Hello! I am learning about valuation of a firm through Discounted Cash Flow model.
Now, I started studying about FCFF specifically, but it's quite confusing. Some books say I need to start from Operating Income of a Financial Statement and other say it should be from Income before taxes.
Which one is right? and one more question:) How can I calculate tax rate? This question is from my confusion over the same question above. I thought I should use tax(from income statement)/operating income but maybe it's tax(from income statement)/income before taxes?
Thank you for reading it and have a nice day!
Submitted April 18, 2017 at 10:20PM by nimbusmettle http://ift.tt/2pyDSBE
