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Compact fluorescent lamps (CFLs) have become required in recent years, but do they make financial sense? Suppose a typical 60-watt incandescent lightbulb costs $.35 and lasts for 1,000 hours. A 15-watt CFL, which provides the same light, costs $2.90 and lasts for 12,000 hours. A kilowatt-hour is 1,000 watts for 1 hour. Suppose you have a residence with a lot of incandescent bulbs that are used on average 500 hours a year. The average bulb will be about halfway through its life, so it will have 500 hours remaining (and you can’t tell which bulbs are older or newer).
If you require a 9 percent return, at what cost per kilowatt-hour does it make sense to replace your incandescent bulbs today? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 6 decimal places, e.g., 32.161616.)
Break-even cost ______$
Please explain your calculations.
Rock Bottom Carpets sells 5,600 carpets a year at an average price per carpet of $1,490. The carrying cost per unit is $22.37. The company orders 500 carpets at a time and has a fixed order cost of $69 per order. The carpets are sold out before they ..
Fox Woodworking Inc. issued preferred shares at a face value of $54 to yield 8% 10 years ago. The shares are currently selling at $61. What return are they earning for investors who buy them today?
Calculate the risk (standard deviation) of the following two-security portfolio in correlation coefficient between the two securities is equal to -0.6.
The multiplier for a futures contract on a certain stock market index is $250. The maturity of the contract is one year, the current level of the index is 1,500, and the risk-free interest rate is 0.3% per month. Find the cash flow from the mark-to-m..
John and Sally Claussen are contemplating the purchase of a hardware store from John Duggan. The Claussens anticipate that the store will generate cash flows of $73,000 per year for 20 years. At the end of 20 years, they intend to sell the store for ..
You own three stocks: 600 shares of Apple Computer, 10,000 shares of cisco systems and 5000 shares of Colgate-Palmolive. The current sharte prices and expected returns of Apple, Cisco,and Colgate-palmolive are, respectively, $511,$17,$96 and 12%, 10%..
A state agency is contemplating giving a total of $5 000000 in grants to various universities. These grants would be paid out in installments of $500 000 per year over a 10-year period. The current annual interest rate is 10% on funds of this type. I..
Find the sample standard deviation for a security that has three one –year returns of 5%, 10%, and 15%. Which of the following type of firms are most likely to payout cash dividends? Payout policy refers to the decisions that firms make about whether..
SP Enterprises will pay an annual dividend of $2.08 a share on its common stock next year. Last week, the company paid a dividend of $2.00 a share. The company adheres to a constant rate of growth dividend policy. What will one share of SP common sto..
CSM Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $495,000 is estimated to result in $194,000 in annual pretax cost savings. The press falls in the MACRS five-year class (MACRS Ta..
An investment offers $18,000 per year for 10 years. If the investor can earn 6 percent annually on other investments, what is the current value of this investment?
Your Division is considering two investment projects each of which requires an up front expenditure of $25 million. You estimate that the cost of capital is 10% and that the investments will produce the following after tax cash flows (in millions of ..
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