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David is the author of a guide to British cafés and snack bars. During the course of a year he travels considerable distances in his car pursuing his researches and consequently he changes his car regularly every 12 months. After three months' use David's current car develops a fault with the odometer which necessitates its replacement. When David trades the car in at the end of the year, he forgets to tell Newtown Motor Co Ltd that the car has done 10,000 more miles than appear on the odometer. Newtown Motor Co Ltd sells the car to June, who discovers a few weeks later that the mileage displayed on the odometer is incorrect. She reports the matter to the local trading standards department.
(a) Discuss the criminal liability of David and Newtown Motor Co Ltd.
(b) What defences may be available to David and Newtown Motor Co Ltd if they are prosecuted?
(c) What advice would you give Newtown Motor Co Ltd to help it avoid prosecution in the future?
The MM irrelevance capital structure theory proved that a firm's value is unaffected by its capital structure. But their study was based on some strong assumptions that: _____
Reclamation costs on a project are expected to be incurred over a 30 year period from 27 to 56 years in the future from now. Reclamation costs are estimated to escalate 7% per year in the future.
A project is expected to create operating cash flows of $29,500 a year for three years. The initial cost of the fixed assets is $61,000. These assets will be worthless at the end of the project. An additional $4,500 of net working capital will be req..
Two years ago, Trans-Atlantic Airlines sold $250 million worth of bonds at $1,000 each. These semi-annual bonds had a maturity of 12 years and a coupon rate of 12.5%. Today these bonds are selling for $1,000. Determine the yield-to-maturity. A semi-a..
Carnoustie Corporation needs 145 desktop computers, which it can buy for $1700 each. Carnoustie will depreciate the computers uniformly over their useful life of 4 years. Calculate the total annual lease payments for all computers, made in advance ea..
The time to complete a construction project is normally distributed with a mean of 40 weeks and a standard deviation of 5 weeks. For each item below, remember to show your calculations / explain reasoning to receive full credit.
A 5,000 par value municipal bond with a coupon rate of 2.7 percent has a yield to maturity of 3.9 percent. If the bond has 10 years to maturity, what is the price of the bond? (Round your answer to 2 decimal places. Omit the "$" sign in your response..
Shi Importer’s balance sheet shows $300 million in debt, $50 million in preferred stock, and $250 million in total common equity. Shi’s tax rate is 40%, rd= 6%, rps= 5.8%, and rs =12%. If Shi has a target capital structure of 30% debt, 5% preferred s..
Change in net working capital should always be positive. Free cash flow can never be negative. A negative cash flow to creditors indicates you must have paid off debt during the period. A negative cash flow to shareholders indicates you must have iss..
XYZ corporation is authorized for 1,000,000 shares and currently has 800,000 shares outstanding. In an attempt to raise additional capital, XYZ decides to issue the remaining 200,000 shares for which it is authorized to do so. The issuance of an addi..
A proposed cost-saving device has an installed cost of $664,000. The device will be used in a five-year project but is classified as three-year MACRS (MACRS Table) property for tax purposes. What level of pretax cost savings do we require for this pr..
Define the term "conflict" and describe how it impacts the negotiation process. Your explanation should include the 4 levels of conflict and the dysfunctions that conflict can create. In your response, you need to also provide your opinion as to w..
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