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The Bone Company has been factoring its accounts receivable for the past 5 years. The factor charges a fee of 2 percent and will lend up to 80 percent of the volume of receivables purchased for an additional 1.5 percent per month. The firm typically has sales of $500, 000 per month, 70 percent of which are on credit. By using the factor, two savings would be effected:
$2, 000 per month that would be required to support a credit department
A bad-debt expense of 1 percent on credit sales.
Focusing only on the basics and ignoring deductions, what is its tax obligation? - What are its marginal tax rates? What is its average tax rate?
Suppose you deposit $2,000 at the end of year one, nothing at the end of year 2, $800 at the end of year 3, and $1,200 and the end of year 4. Assume these amounts will be compounded at an annual rate of 8%. How much will you have deposited at the end..
Mirza is saving for his retirement. How much money will he accumulate by his 65th65th birthday based on the following saving patterns: Saving $11,000.00 on each birthday starting on his 37th birthday and ending on his 48th birthday (inclusive), with ..
How do I make the most out of the intellipath Experience? Are you still looking to increase your Knowledge State or are you struggling in one area?
A new stain removal product claims to completely remove the stains on 90 percent of all stained garments. Assume that the product will be tested on 20 randomly selected stained garments, and let x denote the number of these garments from which the st..
Please explain convexity in this context: The actual percentage price change when a yield on a coupon bond increases is slightly lower in magnitude than the predicted change due to convexity. As the yield goes up, the duration falls and the bond beco..
Your firm has an average collection period of 29 days. Current practice is to factor all receivables immediately at a 1.25 percent discount. What is the effective cost of borrowing in this case? Assume that default is extremely unlikely
Any forecast of financial requirements involves determining how much money the firm will need and is obtained by adding together increases in assets and spontaneous liabilities and subtracting operating income. The projected balance sheet method of f..
The Timber Ridge Company has the following relationships: Sales/Total assets = 3.55; ROA = 0.0930 What is Timber Ridge’s net profit margin?
The Alphonse Company allocates overhead costs by machine hours. At the beginning of the year the company expects fixed overhead costs to be $60,000 and variable overhead costs to be $80,000. The expected machine hours are 6,000 and the expected direc..
Jiminy’s Cricket Farm issued a bond with 25 years to maturity and a semiannual coupon rate of 6 percent 2 years ago. The bond currently sells for 92 percent of its face value. The company’s tax rate is 35 percent. What is the pretax cost of debt?
The expected return on a given efficient portfolio is 25% and its standard deviation is 4%. Suppose that the risk-free rate is 5% and the expected return on the market portfolio of risky assets is 20%. What is the beta of an efficient portfolio with ..
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