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Otto Enterprises has a 15-year bond issue outstanding that pays a 9% coupon. The bond is currently priced at $894.60 and has a par value of $1,000. Interest is paid semiannually. What is the yield to maturity?
Microbiotics currently sells all of its frozen dinners cash on delivery but believes it can increase sales by offering supermarkets 1 month of free credit. The price per carton is $110, and the cost per carton is $70. If the interest rate is 1% per m..
A bond matures in 30 years, has a 20 year duration and a yield to maturity of 9.32%. The change in the level of the market interest rate is 0.47%. What is the modified duration and the percentage change in price? What is the tax-equivalent yield of a..
Your firm is contemplating the purchase of a new $575,000 computer-based order entry system. The system will be depreciated straight-line to zero over its five-year life. It will be worth $59,000 at the end of that time. At what level of pretax cost ..
In the last three years, Merry Theaters paid annual dividends of $0.32, $0.42, and $0.50 a share respectively. The company now predicts that it will keep the same dividend for the foreseeable future given that business has leveled off. Given the lack..
You and your wife are making plans for retirement. You plan on living 30 years after you retire and would like to have $80,000 annually on which to live. Your first withdrawal will be made one year after you retire and you anticipate that your retire..
Kantorovich Company normally takes 30 days to pay for its average daily credit purchases of $2,000. Its average daily sales are $3,000, and it collects accounts in 25 days. What is its net credit position? Note that a negative position implies receiv..
Compute the issue price of each of the following bonds. Round your answers to the nearest dollar. ?b. $10,000,000 face value, serial bonds repayable in 40 equal semiannual installments of $500,000, which includes coupon payments and repayment of prin..
(Calculating operating cash flows) assume that a new project will annually generate revenues of $ 2,600,000. Cash expenses including both fixed and variable costs will be $ 500,000, and depreciation will increase by $ 180,000 per year. In addition, l..
All the following statements concerning the use of an insured corporate cross-purchase buy-sell agreement are correct EXCEPT:
E-Eyes.com has a new issue of preferred stock it calls 20/20 preferred. The stock will pay a $20 dividend per year, but the first dividend will not be paid until 20 years from today. If you require a 9.25 percent return on this stock, how much should..
Chuck Tomkovick is planning to invest $22,000 today in a mutual fund that will provide a return of 11 percent each year. What will be the value of the investment in 10 years?
You are being offered an investment that will pay you (and your heirs) $14,330 per year forever, starting 16 years from now. If your discount rate on this investment is 5.6 percent, how much would you be willing to pay for it today?
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