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Briefly outline facts and discuss the company law principles demonstrated in any FIVE (5) of the following decided cases:
i. Gilford Motor Company Ltd. v Horne (1933);
ii. Macaura v Northern Assurance Co Ltd (1925);
iii. Mercantile Credit Company v Garrod (1962);
iv. Miles v Clarke (1953);
v. Hamlyn v Houston (1903):
vi. Bamford v Bamford (1970); or
vii. Percival v Wright (1902)
A closed-end fund starts the year with a net asset value of $12.00. By year-end, NAV equals $12.10. At the beginning of the year, the fund was selling at a 2% premium to NAV. By the end of the year, the fund is selling at a 7% discount to NAV. The fu..
Bond J has a coupon rate of 7 percent and Bond K has a coupon rate of 13 percent. Both bonds have 20 years to maturity, make semiannual payments, and have a YTM of 10 percent. If interest rates suddenly rise by 2 percent, what is the percentage price..
You purchased a machine for $1.1 million three years ago and have been applying straight-line depreciation to zero for a seven-year life. Your tax rate is 38%. If you sell the machine today (after three years of depreciation) for $700,000, what is yo..
A 13-year annuity pays $3,000 per month, and payments are made at the end of each month. The interest rate is 9 percent compounded monthly for the first six years, and 7 percent compounded monthly thereafter. What is the present value of the annuity?
If Jolly Joe’s buys $100 worth of supplies on credit with terms 3/10 n30 and pays the bill on the 28th day after the purchase: What is the approximate, or “nominal,” cost of trade credit as an annual rate? What is the exact cost of trade credit as an..
Olympia Natural Resources, Inc and Yakima Lumber Ltd., supply cut logs to lumber and paper mills located in the cascades mountain region in the state of Washington. Each company has a different marginal cost of production, depending on its own cost o..
Kaiser Industries has bonds on the market making annual payments, with 12 years to maturity, and selling for $1,182.01. At this price, the bonds yield 8 percent. What is the coupon rate?
Seth Bullock, the owner of Bullock Gold Mining, is evaluating a new gold mine in South Dakota. Dan Dority, the company’s geologist, has just finished his analysis of the mine site. He has estimated that the mine would be productive for eight years, a..
Backwater Corp. has 8 percent coupon bonds making SEMIANNUAL payments with a YTM of 7.2 percent and selling at $1060. How many years for these bonds have lefts until they mature?
If Ample, Inc. stock closed at $22 and the current quarterly dividend is $1.25 per share, what dividend yield would be reported for the stock in The Wall Street Journal?
Today is January 1, 2012 and you are considering purchasing an outstanding bond that was issued on January 1, 2010.
Define the current ratio and return on assets ratio. State what financial management problem each of these financial ratios could be used to identify. What would be a good benchmark to use for each of these financial ratios?
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