I was solving Question 1c of December 2018 on Opao co and Tai co, in arriving at the free cash flow to Firm and Equity, I deducted the amount needed to replace non current asset which I assumed to be the same as depreciation; however, in the solution it was not deduc...
Macaulay Duration is the length of time taken by the investor to recover his invested money in the bond through coupons and principal repayment. According to your explanation, it is an average time to get half the value. Could you please clarify it? Thank you....