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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 grants would enable low-skilled persons to be retrained for new jobs, with a resulting benefit of $5000 per year in increased income for each of 1000 persons in the regional labor force, over the next 10 years. These state grants would enable the universities to obtain a total of $1 000000 in matching federal funds for their operations, thereby reducing by $1 000000 the total amount of state funds which would normally be required by the universities. However, the grants would require 10 persons to be added to the university staffs at an average annual salary of $20 000 each, which would have to be paid out of state funds. The current annual interest rate is 10% on funds of this type. Is the retraining program an economical investment for the state, on a present-worth basis? Compute both the present-worth BCR and the present-worth NBV.
As a bond approaches its maturity date, its price approaches
Tim Taylor has written a self improvement book that has the following cost characteristics: Selling Price $16.00 per book Variable cost per unit: Production $4.00 Selling & administrative 2.00 Fixed costs: Production $90,400 per year Selling & admini..
Johnson Products earned $4.20 per share last year and paid a $1.55 per share dividend. If ROE was 14 percent, what is the sustainable growth rate?
We expect to receive $6.75 million this year from our Local Option Income Tax (LOIT). The state collects the tax and sends equal payments to us at the end of each quarter. Assume we use a normal calendar year for accounting purposes. How much money w..
In its negotiations with its investment bankers, Patton Electronics has reached an agreement whereby the investment bankers receive a smaller fee now (6% of gross proceeds versus their normal 10%) but also receive a 1-year option to purchase an addit..
Which of the following is a characteristic of beta? Select one: a. Beta measures only the volatility of returns on an individual bond relative to a bond market index. b. A beta of 1.0 is of equal risk with the market. c. A beta of greater than 1.0 ha..
Petrus Company has a unique opportunity to invest in a two-year project in Australia. The project is expected to generate 5,125,000 Australian dollars (A$) in the first year and 5,242,000 Australian dollars in the second. What is the break-even salva..
Which of the following statements is true about the constant growth model?
The price of a non-dividend paying stock is $19.24 and the price of a 3-month European put option on the stock with a strike price of $20 is $4.22. The risk-free rate is 5% per annum. What is the price of a 3-month European call option with a strike ..
There is a callable preferred stock at 110 par in 9 years, paying $4 annually and having a yield of 6%. Compute its price, if it is called. In case the issuing firm decides to not call it, what would its price be?
If the total assets of a firm are unaffected by a stock dividend, then:
Let’s assume that you have been asked to calculate risk-based capital ratios for a bank with the following accounts. Calculate the equity capital ratio. Calculate the Tier 1 Ratio using risk-adjusted assets. Calculate the Total Capital (Tier 1 and Ti..
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