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Arkin, the owner of Redacre, executed a real estate mortgage to the Shawnee Bank and Trust Company for $100,000. After the mortgage was executed and recorded, Arkin constructed a dwelling on the premises and planted a corn crop. After Arkin defaulted in the payment of the mortgage debt, the bank proceeded to foreclose the mortgage. At the time of the foreclosure sale, the corn crop was mature and unharvested. Arkin contends (a) that the value of the dwelling should be credited to him and (b) that he is entitled to the corn crop. Explain whether Arkin is correct.
Before finalizing these plans, two stores were remodeled as a test. Lisa Lee, assistant controller, was asked to oversee the financial reporting for these test stores, and she and other management personnel were offered bonuses based on the sales gro..
Surmec, Inc. has sales of $2.1 million last year. The company’s primary business line is manufacturing of nuts and bolts. Since this is a mature industry, the analysts are certain that the sales will grow at a steady rate of 7 percent a year for as f..
The treasurer of a U.S company has $1,000,000 to invest for 30 days. A 30-day euro deposit yields 2.00 percent. The present exchange rate of € is $1.1550. What is the annualized yield on the dollar deposit in the euro market if the exchange rate of €..
Suppose you purchase eight put contracts on Testaburger Co. The strike price is $35, and the premium is $2.20. If, at expiration, the stock is selling for $26 per share, what are your put options worth? What is your net profit?
Linda is a doctor that has worked for a well-respected clinic for the last two years. The clinic is a professional service corporation operated as a C corporation. She has now been offered an equal ownership interest in the C Corporation and a limite..
Successful business analysis relies on the analyst’s ability to understand all aspects of the internal and external environment of the business. There are many external factors to consider in such an analysis. Which factor listed below is not conside..
You own a portfolio that is 30 percent invested in Stock X, 25 percent in Stock Y, and 45 percent in Stock Z. The expected returns on these three stocks are 9 percent, 18 percent, and 14 percent, respectively. What is the expected return on the portf..
If Hillsborough Architecture and Engineering purchases a new office building in May for $5.7M, determine the allowable depreciation for each year. Western Carolina Coal Co. expects to produce 125,000 tons of coal annually for 15 years. The deposit co..
Talbot Enterprises recently reported an EBITDA of $8 million and net income of $4 million. It had $1 million of interest expense, and its corporate tax rate was 36%. What was its charge for depreciation and amortization?
A company has just announced a 3-for-1 stock split, effective immediately. Prior to the split, the company had a market value of $5 billion with 100 million shares outstanding. What is the value of the company, the number of shares outstanding, and p..
Negus Enterprises has an inventory conversion period of 79 days, an average collection period of 49 days, and a payables deferral period of 20 days. Assume that cost of goods sold is 80% of sales. What is the length of the firm's cash conversion cycl..
Someone leases a car with the following terms: monthly payment, five year term, 5% annual interest rate, initial value of the lease is $35,000, and value at the end of the lease is $10,000. What are the monthly payments?
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