lever

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lev·er

(lev'ĕr, lēv'),
An instrument used to lift or pry.
[Fr. lever, to lift]

lever

[lē′vər, lev′ər]
Etymology: L, levare, to lift up
any one of the numerous bones and associated joints of the body that act as a simple machine so that force applied to one end of the bone tends to rotate the bone in the direction opposite from that of the applied force. The muscles of the body produce the forces that move the levers. The basic components of a lever are the fulcrum, the force arm, and the weight arm. A first-class lever, such as the joint between the base of the skull and the first cervical vertebra, has a fulcrum between the weight and the applied force. The body contains few second-class levers, which have the weight between the fulcrum and the force. A third-class lever, such as the forearm and elbow, has the force between the fulcrum and the weight. The body uses its third-class levers for speed and its first-class levers for either force or speed, depending on the force applied to the weight arm.

lev·er

(lev'ĕr)
An instrument used to lift or pry.
[Fr. lever, to lift]

lever (lev´ur),

n a bar or rigid body that is capable of turning about one joint or axis and in which are two or more other points where forces are applied. There are three classes of levers, and each has its own most effective use.
lever leverage
n the mechanical advantage gained by the use of a lever. A factor in the magnification of stresses generated by an extension-base partial denture.
lever, second-class,
n a lever in which the force arm is longer than the work-producing arm; thus the work produced is always greater than the energy used, with a resultant high efficiency.
lever, third-class,
n a lever in which the axis is at one end, the load at the other end, and the effort is exerted in between, as in a treadle.
References in periodicals archive ?
The return to levered equity in year 2 is 20% and the corresponding return to unlevered equity in year 2 is 17.
In year 1, the return to levered equity is 20% The return to unlevered equity will change to
If we assume that the return to levered equity is constant at 20% for year 1 and year 2, we can find the WACC for the free cash flow.
Summary Table B: Constant return to levered equity Year 0 1 2 Free Cash Flow (FCF) 600.
Summary Table C: Constant return to levered equity, with taxes Year 0 1 2 Free Cash Flow (FCF) 600.
n] is the required return to levered equity in year n.
where En is the present value in year n of the equity cash flow, VLn is the present value in year n of the levered cash flow, and Dn is the present value in year n of the cash flow to the debt holders.
The WACC (pre-tax) in year n is a weighted average of the cost of debt in year n and the return to levered equity in year n, where the weights are based on the percentages of debt and equity at the beginning of year n.
In an M & M world without taxes, the expression for the return to levered equity is as follows:
where p is the return to unlevered equity (assumed to be constant), en is the return to levered equity in year n, En-1 is the value of the levered equity at the beginning of year n, and Dn-1 is the value of the levered equity at the beginning of year n.
Alternatively, one could assume that the return to levered equity is constant.