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Jam llc unexpectedly executed a share buy-back. Before the buy-back the number of outstanding shares was 11,123,000, the market price of one share was $2.04 and the return on levered equity was 12.00%. The return on levered equity after the buy-back is 14.12%. The debt amount was $18,500,000. Also, the company has kept a constant debt level before and after the buy-back. The corporate tax rate is 35% the cost of debt is 2.45% and the return on unlevered equity is not aected by the buy-back.
How many shares were bought back? The answer is 4,344,316 (I posted this answer 2 timee and the answer given was incorrect. Please do not reply until the answer 4,344,316 is reached)
Commercial banks moved heavily into equipment leasing during the early 1970s, acting as lessor. One major reason for this invasion of the leasing industry was to gain the benefits of accelerated depreciation and the investment tax credit on leased eq..
Filer manufacturing has 8 million shares of common stock outstanding. The current share price is $87, and the book value per share is $6. Filer manufacturing also has two bond issues outstanding. The first bond issue has a face value of $75 million a..
Discuss the ways in which a physician office practice can optimize its financial condition and benefit its hospital partner.
A stock is trading at $65 per share. The stock is expected to have a year-end dividend of $5 per share (D1 = $5), and it is expected to grow at some constant rate g throughout time. The stock's required rate of return is 10% (assume the market is in ..
Which of the following statements is true regarding the legal aspects of a life insurance contract?
The newspaper reported last week that Bennington Enterprises earned $34.15 million this year. The report also stated that the firm’s return on equity is 17 percent. Bennington retains 80 percent of its earnings. What is the firm's earnings growth rat..
A mutual fund manager expects her portfolio to earn a rate of return of 10% this year. The beta of her portfolio is .9. Assume rate of return available on risk-free assets is 3% and you expect the rate of return on the market portfolio to be 13%. Cal..
ABC Company sells 3,890 chairs a year at an average price per chair of $142. The carrying cost per unit is $21.89. The company orders 500 chairs at a time and has a fixed order cost of $96 per order. The chairs are sold out before they are restocked...
You've borrowed $23,500 on margin to buy shares in Disney, which is now selling at $47 per share. Your account starts at the initial margin requirement of 50%. The maintenance margin is 35%. What is the percentage margin on the above transaction. How..
General Mills has a $1,000 par value, 29-year to maturity bond outstanding with an annual coupon rate of 11.56 percent per year, paid semiannually. Market interest rates on similar bonds are 11.27 percent. Calculate the bond’s price today.
After an intensive research and development effort, two methods for producing playing cards have been identified by the Turner Company. One method involves using a machine having a fixed cost of $10,000 and variable costs of $1.00 per deck of cards.
When forecasting balance sheet financials, an unusually high projected short-term investment balance suggests which of the following?
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