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(A) BOND VALUATION Callaghan Motors' bonds have 10 years remaining to maturity. Interest is paid semiannually, they have a $1,000 par value, the coupon interest rate is 8%, and the yield to maturity is 9%. What is the bond's current market price?
(B) FUTURE PRICE A bond has a $1,000 par value, 10 years to maturity, and a 7% semiannual coupon and sells for $985. Assume that the yield to maturity remains at 7.21% for the next 3 years. What will the price be 3 years from today?
You work for a pharmaceutical company that has developed a new drug. The patent of the drug will last 17 years. You expect that the drugs profits will $2 million dollars in its first year and that this amount will grow at a rate of 5% per year for th..
Beryl’s Iced Tea currently rents a bottling machine for $54,000 per year, including a maintenance expenses. Purchase the machine it is currently renting for $160,000. This machine will require $20,000 per year in ongoing maintenance expenses. The mar..
Bill Dukes has $100,000 invested in a 2-stock portfolio. $35,000 is invested in Stock X and the remainder is invested in Stock Y. X’s beta is 1.50 and Y’s beta is 0.70. What is the portfolio’s beta?
Your job pays you only once a year for all the work you did over the previous 12 months. Today, December 31, you just received your salary of $53,000 and you plan to spend all of it. However, you want to start saving for retirement beginning next yea..
Yield to maturity is higher than the coupon interest rate if a bond is trading at Premium. There exists a negative relationship between outstanding bond prices and going market interest rates.
Organizational culture is considered a product and a process. Discuss organizational culture as a product and a process. Which concept do you favor and why?
St. Johns River Shipyard's welding machine is 15 years old, fully depreciated, and has no salvage value. However, even though it is old, it is still functional as originally designed and can be used for quite a while longer. The new welder will cost ..
We have 20,000 shares of IBM, which we bought for $50 per share. We buy protective puts against them at a strike price of $62 for which we have to pay a $2 premium. Explicate on the results and the ROR we make in the following two cases. First, assum..
Analyze how each of the hypothetical policy changes would affect people's decision to retire. Would the change induce people to retire sooner or later - An increase to 100 percent from its current 85 percent in the maximum fraction of Social Secur..
Garner-Wagner is considering a project that is replicable with a $3,000,000 investment at time zero, and returns $500,000 each year for five years and has a discount rate of I/YR = 10%. If Garner-Wagner goes ahead with this project today, it will obt..
Suppose your firm is considering two mutually exclusive, required projects with the cash flows shown below. The required rate of return on projects of both of their risk class is 10 percent. Project A s Cash flow from year 0 to year 3: -1000, 400, 40..
Sanders Enterprises, Inc., has been considering the purchase of a new manufacturing facility for $276,000. The facility is to be fully depreciated on a straight-line basis over seven years. It is expected to have no resale value after the seven years..
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