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Lindenwood Marine, Inc. was awarded a contract by the federal government to build flood control dams along the Missouri River. In April 2010, Lindenwood entered into a contract with Noell Engineering, a Missouri engineering company, to construct special turbines to be used in the dam construction. Noell holds itself out to be an expert in water technology and engineering and has supplied turbine for flood control dams throughout the world. Under their contract, Noell was to design, build and supply the turbines for Lindenwood, with a final delivery and installation date of September 2011. Noell supplied the engineering drawings to Lindenwood Marine in August 2010 and promised delivery and installation by the agreed contract date. Under the contract, Noell warranted that the turbines were capable of continuous operation, a feature that was important for the flood control function of the dams. In January 2011, Lindenwood Marine learned through industry publications that certain dams along the Nile River in Egypt and the Danube River in Hungary experienced serious problems with their turbines that that been designed, built and supplied by Noell. In particular, there were reports that the turbines were not able to operate in a continuous manner as was required under Lindenwood's contract with Noell. On January 8, 2011 Lindenwood e-mailed Noell expressing its concern about the turbine failures in Egypt and Hungary and asked Noell for proof that the turbines would meet the specifications for continuous operation as required under the agreement. On February 1, 2011 Noell e-mailed Lindenwood that the turbines would satisfactorily do the job. Lindenwood was not satisfied with Noell's explanation, and in April 2011, Lindenwood told Noell it was cancelling the contract and was purchasing the turbines from one of Noell's competitors. Noell then sued Lindenwood for breach of contract and sought damages. Noell claims that it has incurred substantial expenses in providing the engineering and design for the turbines, purchased materials, and had begun construction of the turbines. Lindenwood says that it was Noell that breached the contract. Discuss the strength of each party's claim for breach of contract, and specifically address in your answer how the legal concepts of performance affect each party's claim.
A stock has an expected return of 15 percent, its beta is 1.55, and the risk-free rate is 6.5 percent. What must the expected return on the market be?
Leyh’s Outdoor Adventures, Inc., would like begin providing life insurance coverage for its employees. Three employees are officers; each earns $100,000 per year. The other three employees each earn $40,000 per year. Evaluate this option and advise t..
Treasury STRIP (semi-annual compounding) has a 4% YTM and 15 years to maturity. What is the $ amount capital appreciation expected over the coming year if YTMs remain unchanged?
Build an office high rise with 450,000 square feet of office space. The street level will be dedicated to retail. Lease the land to the developer in exchange for the use of 12,000 square feet of office space. Calculate the Weighted Cost of Capita. Ca..
An investor currently holds the following portfolio of 4 stocks, each having equal weight: What is the portfolio’s expected return? What is the portfolio’s beta risk? Is it more or less risky than the market?
Suppose the dividends for the Seger Corporation over the past six years were $1.36, $1.44, $1.53, $1.61, $1.71, and $1.76, respectively. Compute the expected share price at the end of 2014 using the perpetual growth method. Assume the market risk pre..
Suppose one of the suppliers to Banner offers terms of 3/20, net 60. What is the approximate cost of the costly trade credit offered by this supplier? (Assume 360 days per year)
You buy a share of The Ludwig Corporation stock for $18.60. You expect it to pay dividends of $1.09, $1.17, and $1.2559 in Years 1, 2, and 3, respectively, and you expect to sell it at a price of $31.90 at the end of 3 years. Calculate the growth rat..
Yield to maturity and future price- A bond has a $1,000 par value, 7 years to maturity, and a 9% annual coupon and sells for $1,095. What is its yield to maturity (YTM)? Round your answer to two decimal places.
What is the expected growth rate in dividends for a firm in which shareholders require a 15% rate of return and the dividend yield is 7%?
Tangshan Industries has issued a bond which has a $1,000 par value and a 13 percent annual coupon interest rate. The bond will mature in ten years and currently sells for $1,250. Using this information, the yield to maturity on the Tangshan Industrie..
Which of the following conclusions would be true if you earn a higher rate of return on your investments? Select one: The greater the present value would be for any lump sum you would receive in the future. The greater the present value would be for ..
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