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The Vandergrift Company has a revolving credit agreement with Commerce Bank under which the company can borrow up to $5 million at an annual interest rate of 1 percentage point above the prime rate (currently 9 percent). The company is required to maintain a 10 percent compensating balance on any funds borrowed under the agreement and to pay a 0.4 percent commitment fee on the unused portion of the credit line. Assume that Vandergrift has no funds in its account at Commerce Bank that can be used to meet the compensating balance requirement. Determine the annual financing cost of borrowing each of the following amounts under the credit agreement:
a. $1 million
b. $4 million
Last year the price for thermometer covers in a pediatrician's office was $.10 each. This year, the covers cost $.12 each. If the office purchased 20,000 thermometer covers this year, what is the price variance?
what factors determine how frequently transfers should be made from a deposit account to a concentration account? find
The marginal external cost associated with the emissions of sulfur dioxide is estimated to be $30 per pound of this chemical per year. Assume that each ton of steel produced per year results in 5 pounds of sulfur dioxide emissions. Suppose that the s..
Database Systems is considering expansion into a new product line. Assets to support expansion will cost $740,000. What would net income and return on assets (investment) be for the year
A regression of sectoral loan losses against total loans losses, both measured as a percentage of total loans, of a bank results in the following beta coefficients for the real estate (RE) and commercial (CL) loan variables: bRE = 1.2, bCL = 1.6. ..
Inflows and Revenue Management
a coin is tossed 400 times. use the normal-curve approximation to find the probability of obtaininga between 185 and
Vang, Inc., has an average collection period of 27 days. It's average daily investment in receivables is $86,000. What is the receivables turnover? What are annual credit sales?
Sale of Machinery to Subsidiary Corporation as well as Calculation of Income in Acquired Company
Recommend a cash management strategy for the company that will minimize the financing cost and increase the cash flows for the company.
Congress has decided that it has the resources to create one additional administrative agency. You have been appointed to create the agency. What will the agency regulate? List the primary functions of all administrative agencies. How will your ne..
What will be the effect of the price increase on the firm's FCF for the year and chip's Home Brew Whiskey management forecasts that if the firm sells each bottle of Snake-Bite for $20
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