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High Mountain Gear issued 385,000 shares of stock last week. The underwriters charged a spread of 7.2 percent in exchange for agreeing to a firm commitment. The legal and accounting fees were $302,000. The company incurred $39,000 in indirect costs. The offer price was $17 a share. Within the day of of trading, the stock was selling for $18.80 a share. What was the flotation cost as a percentage of the funds raised?
A. 31.90 percent B. 35.78 percent C. 32.51 percent D. 26.26 percent E. 29.08 percent
Do you think finance departments are the best place to train future CEOs? Provide two actual examples of CFOs of publicly-traded companies who became CEOs of publicly-traded companies within the past 5 years.
Suppose risk-free rate of return = 3%, market return = 9%, and Stock B’s return = 12%. Calculate Stock B’s beta. If Stock B’s betas were 0.80, what would be its new rate of return?
Jeff believes that Microsoft stock will move significantly in either direction with the release of the next version of Windows. Jeff wants to design a strangle strategy to take advantage of the possible move in the stock price. Should Jeff embark on ..
A bank expects to raise $20 Million in new money if it pays a deposit rate of 8%, and $120 in new money if it was a deposit rate of 8.5%. The bank expects to earn 9.5% on all money that is receives in new deposits. What is the marginal cost of deposi..
Zane Perelli currently has $100 that he can spend today on polo shirts costing $25 each. Alternatively, he could invest the $100 in a risk-free U.S. Treasury security that is expected to earn a 9% nominal rate of interest. The consensus forecast of l..
Identify every breakeven point for the overall option strategy. A ratio call write (100 shares of stock purchased at $24, 2 short calls with strike = 35.00 and premium = 0.25 each). Each call contract covers 100 shares.
When a depreciable asset is sold at whatever market price it was able to be sold for, a tax gain or tax loss on disposal is calculated, based on the ________ of the asset at the time of disposal.
Thatcher Corporation's bonds will mature in 15 years. The bonds have a face value of $1,000 and an 7.5% coupon rate, paid semiannually. The price of the bonds is $900. The bonds are callable in 5 years at a call price of $1,050. Round your answers to..
Nonconstant Growth Stock Valuation Assume that the average firm in your company's industry is expected to grow at a constant rate of 5% and that its dividend yield is 7%. If the last dividend paid (D0) was $3, what is the value per share of your firm..
You and your spouse are in good health and have reasonably secure careers. Each of you makes about $40,000 annually. You own a home with an $80,000 mortgage, and you owe $15,000 on car loans, $5,000 on personal debts, and $4,000 on credit card loans...
Which of the following is a default option for most mutual funds? Mutual funds often report returns as the growth of $10,000 over a period of time. The process of selling certain issues in a portfolio and purchasing new ones to replace them is known ..
Due to a pre-existing contract, Recycle America Inc. has the opportunity to acquire 10,000 pounds of scrap aluminum and 2,500 pounds of scrap lead for $10,750. If the current market price for scrap aluminum is $0.83 per pound and the current market p..
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