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You have won a lottery which will pay you 10 annual checks of $3 million each. Your checks will begin arriving starting a year from now. Calculate the present value annuity in millions of dollars of these cash flows assuming a discount rate of 5%.
$23.16 million
$30.00 million
$22.23 million
$15.34 million
Simon recently received a credit card with an 18% nominal interest rate. With the card, he purchased an Amazon Kindle for $350. The minimum payment on the card is only $10 per month. If Simon makes the minimum monthly payment and makes no other charg..
what are the internal rates of return for the following projects?
Calculate the following market value ratios. Roberts Company had an average of 10,000 shares outstanding during 2012, the net income was $87,000, and the stock price on December 31, 2012 was $41.00. Depreciation Expense was $50,000. Total assets are ..
A 5-year project has an initial fixed asset investment of $19,740, an initial NWC investment of $1,880, and an annual OCF of -$30,080. The fixed asset is fully depreciated over the life of the project and has no salvage value. Required: If the requir..
Identify the differences between accrual accounting and cash basis accounting. How is the profit margin calculated? Discuss its use in analyzing a company's performance. What is the purpose of closing entries? Describe the closing process
ElVonn, Inc., a decorative firsm issued a $1,000 bond with a coupon rate of 8 percent and 20 years to maturity five years ago. If this bond pays interest semiannually, what is the value of this bond (today) to an investor who requires an 8 percent ra..
Suppose the spot exchange rate for the Canadian dollar is Can$1.04 and the six-month forward rate is Can$1.06. Which is worth more, a U.S. dollar or a Canadian dollar?
Hazel Morrison, a mutual fund manager, has a $60 million portfolio with a beta of 1.00. The risk free rate is 3.25%, and the market risk premium is 6.00%. Hazel expects to receive an additional $40 million, which she plans to invest in additional sto..
Vandalay Industries is considering the purchase of a new machine for the production of latex. Machine A costs $1,830,000 and will last for 5 years. Variable costs are 37 percent of sales, and fixed costs are $152,000 per year. Machine B costs $4,440,..
Suppose that the two years have elapsed since you purchased the security, and you have received the first two payments of $600 each. Now suppose the market interest rate suddenly jumps to 10%. How much would another investor be willing to pay for you..
A supplier is offering your firm a cash discount of 2 percent if purchases are paid for within ten days; otherwise the bill is due at the end of sixty days. Would you recommend borrowing from a bank at an 18 percent annual interest rate to take advan..
Rolston Music Company is considering the sale of a new sound board used in recording studios. The new board would sell for $26,600, and the company expects to sell 1,510 per year. The company currently sells 2,010 units of its existing model per year..
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