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Cash Management
Williams & Sons last year reported sales of $7 million and an inventory turnover ratio of 3.5. The company is now adopting a new inventory system. If the new system is able to reduce the firm's inventory level and increase the firm's inventory turnover ratio to 6.8 while maintaining the same level of sales, how much cash will be freed up? Round your answer to the nearest dollar.
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Page Enterprises has bonds on the market making annual payments, with twelve years to maturity, and selling for $960. At this price, the bonds yield 6.50 percent. What must the coupon rate be on the bonds?
Choose a company from Fortune 500 article. Using the financial data of the selected company, provide the following ratios: Inventory Period, Accounts Receivable Period, and Average Payment Period. Discuss the meaning of these ratios and their relevan..
Assume these securities are correctly priced. Based on the CAPM, what is the expected return on the market? What is the risk-free rate?
When the external capital market is very relaxed (e.g., optimistic investors, low interest rate, and many potential investors), would you recommend a start-up firm to use a lot of short-term debt instead of long-term debt? Why or why not? And would y..
The Generic Publications Textbook Company sells all of its books for $100 per book, and it currently costs $50 in variable costs to produce each text. Management is considering changing the firm’s production technology, which will increase the fixed ..
Find the value of American Call option with an exercise price of $150 and a stock price of $145. The stock can go up by 12% and down by 18% in each of the two binomial periods. The risk free rate is 3%. Determine the price of option today using two p..
Miller, Inc., has declared a $6.30 per share dividend. Suppose capital gains are not taxed, but dividends are taxed at 10 percent. New IRS regulations require that taxes be withheld at the time the dividend is paid. Miller sells for $114 per share, a..
As an equity analyst you are concerned with what will happen to the required return to Universal Toddler Industries stock as market conditions change. Suppose rRF=5% rM =12% and bUTI = 1.4. Under the current conditions what is rUTI, the required rate..
The corporate bylaws are identical for all firms incorporated in a particular state. Corporate bylaws dictate a firm's behavior inside its home country and corporate charter outline rules for operating in foreign countries. For a manufacturing firm, ..
A firm is reviewing a project with labor cost of $6.20 per unit; raw materials cost of $22.45 a unit, and fixed costs of $11,000 a month. Sales are projected at 8,200 units over the 3-month life of the project. What are the total variable costs of th..
In 2013 Caterpillar Inc. had about 655 million shares outstanding. Their book value was $34 per share, and the market price was $87.00 per share. The company’s balance sheet shows that the company had $18.7 billion of long-term debt, which was curren..
Today is a day in May 2525 and a bond with an coupon rate of 8.0% just yesterday paid a coupon. The bond matures in November 2540 and its quoted bond price is 118.03 percent of par (semiannual compounding). Find the yield to maturity (YTM) and curren..
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