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Thirteen years ago a firm issued $1,000 par value bonds with a 5% annual coupon rate and a term to maturity of 20 years. Market interest rates have decreased since then and similar bonds today would carry an annual coupon rate of 4%. What would these bonds sell for today if they made (a) annual coupon payments; and (b) semiannual coupon payments?
If the annual coupon bond in #8 above were selling for $1,150, what would be its current yield?
You own a portfolio that has $1,500 invested in Stock A and $3,550 invested in Stock B. If the expected returns on these stocks are 9 percent and 15 percent, respectively, what is the expected return on the portfolio?
Little Books Inc. recently reported $12 million of net income. Its EBIT was $20.4 million, and its tax rate was 40%. What was its interest expense? [Hint: Write out the headings for an income statement and then fill in the known values. Then divide $..
Patrick is purchasing a new home and needs to borrow $250,000 from a mortgage lender. The mortgage lender quotes him a rate of 6.25% APR for a 30--year fixed rate mortgage. What will his monthly payment be?
Which of the following statements regarding a firm's optimal capital structure is true? Review the list and identify which items are correct
A 7.5 percent coupon bond has a face value of $1,000, pays interest semi-annually, has 8 years to maturity, and is currently selling for $996.34. What is the yield-to-maturity?
Debt Management Ratios Calculate the times interest earned ratio for Linda's Hats, Inc. using the following information: sales = $50,000,000, cost of goods sold = $15,000,000, depreciation expense = $2,000,000, addition to retained earnings = $10,000..
Risk and Return, Coefficient of Variation. Based on the following information, calculate the coefficient of variation and select the best investment based on the risk/reward relationship:
You placed $6,559 in a savings account today that earns an annual interest rate of 5 percent compounded annually. How much will you have in this account at the end of 29 years. Assume that all interest received at the end of the year is invested the ..
Wendy's boss wants to use straight-line depreciation for the new expansion project because he said it will give higher net income in earlier years and give him a larger bonus. The project will last 4 years and requires $900,000 of equipment. Which de..
What is the difference between independent floating, managed floating, and fixed exchange rate systems? Provide an example of a direct quote of an exchange rate.
A project is expected to create operating cash flows of $32,000 a year for three years. The initial cost of the fixed assets is $66,000. These assets will be worthless at the end of the project. An additional $3,500 of net working capital will be req..
Taylor Textbooks Inc. buys on terms of 1/13, net 58 days. It does not take discounts, and it typically pays on time, 58 days after the invoice date. Net purchases amount to $400,000 per year. On average, what is the dollar amount of costly trade cred..
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