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Pueblo Corp. is considering relaxing its credit standards to encourage more sales. As a result, sales are expected to increase 15% from the current level of 300 units per year. The average collection period is expected to increase to 35 days from 25 days and bad debts are expected to double the current 1% level. The sale price per unit is $850, the variable cost per unit is $650 and the average cost per unit at the 300 unit level is $700. The firm's required return on investment is 20%. What is the cost of marginal investments in accounts receivable under the proposed plan? (Assume 365-day year)
Simone founded her company using $150,000 of her own money, issuing herself 300,000 shares of stock. An angel investor bought an additional 200,000 shares for $100,000. She now sells another 500,000 shares of stock to a venture capitalist for $2 mill..
Why are derivatives important to the financial community? Does the government regulate the market? How can there be such a meltdown?
Computer stocks currently provide an expected rate of return of 16%. MBI, a large computer company, will pay a year-end dividend of $2 per share. If the stock is selling at $50 per share, what must be the market's expectation of the growth rate of MB..
At year-end 2013, Wallace Landscaping total assets were $1.8 million and its accounts payable were $370,000. Sales, which in 2013 were $2.1 million, are expected to increase by 20% in 2014. Total assets and accounts payable are proportional to sales,..
Write a memo to your supervisor explaining the cash conversion cycle at your company, a manufacturer of plastic toys. Be sure to address the following: Material ordering costs, Labor costs, Credit sales (accounts receivables)
Clearlake does not know how many euros it will receive in the future, so it would have difficulty even if a long-term hedging method were available. How can Clearlake realistically deal with this dilemma and reduce its exposure over the long term?
Zeniba Inc.’s stock is currently selling for $23.56 per share. The company just paid a dividend = $2.00 per share (i.e., D0 = $2.00), and investors expect the dividend to grow at a constant rate out into the future. Investors require a minimum annual..
Filer Manufacturing has 6 million shares of common stock outstanding. The current share price is $85, and the book value per share is $8. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $65 million, ..
Skye Flyer, Inc., has weekly credit sales of $18,600, and the average collection period is 28 days. What is the average accounts receivable figure?
An asset has had an arithmetic return of 10.2 percent and a geometric return of 8.2 percent over the last 88 years. What return would you estimate for this asset over the next 9 years? 24 years? 40 years?
A U.S. Treasury bill with 64 days to maturity is quoted at a discount yield of 1.75 percent. What is the bond equivalent yield?
Define and discuss MM Proposition I with its implications, and the roles of homemade leverage and the Law of One Price in the development of the proposition.
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