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A group of investors are discussing the formation of a new property and casualty insurer. The proposed company would market a new homeowner's policy that combines traditional homeowner coverages with unemployment benefits if the policy owner becomes involuntarily unemployed.
Each investor would contribute at least $100,000 and would receive a proportionate interest in the company.
In addition, the company would raise additional capital by selling ownership rights to other investors.
Management wants to avoid the expense of hiring and training agents to sell the new policy and wants to sell the insurance directly to the public by selective advertising in personal finance magazines.
Determine the interest payment for the following three bonds- 3.95 percent coupon Treasury note. Corporate zero coupon bond maturing in ten years.
You are purchasing a new car for a price of $38,000. The dealer is offering two financing programs. Program 1 will allow you to take possession of your new car and defer your first payment for 6 months. Interest accrues monthly on your purchase durin..
If you put up $41,000 today in exchange for a 6.75 percent, 14-year annuity, what will the annual cash flow be?
It is estimated that the annual sales of an energy saving device will be 25,000 the first year and increase by 10,000 per year until 55,000 units are sold during the fourth year. In the fifth year and each year thereafter the sales will decrease by 5..
Suppose there is 9-month forward premium for natural gas of 10% i.e. the forward price is 10% higher than the spot price. The risk-free rate 6% and the storage cost is paid continuously at 8%. What is the convenience yield for 9-month natural gas con..
Charleston Corporation (CC) now operates as a "regular" corporation, but it is considering a switch to S Corporation status. CC is owned by five stockholders who each hold 20% of the stock, and each faces a personal tax rate of 35%. How much more (or..
Explain the characteristics of a line of credit. What is it about these loans that make them by far the most popular type of short-term credit? When the economy is growing at a slow pace, it puts a damper on production and sales. This is due to the f..
Cooling Tools, Inc. is currently producing 1306 of small refrigerators per month but the company’s CEO plans to increase production at a rate of 8.04 percent per month until the firm is producing 7043 of refrigerators per month. How many months will ..
The annual standard deviation of returns on Stock A’s equity is 31% and the correlation coefficient of these returns, with those on the market index (S&P 500 index), is 0.82. Comparable numbers of Stock B are 34% and 0.64. What can you say about Stoc..
Phillips Equipment has 80,000 bonds outstanding that are selling at par. Bonds with similar characteristics are yielding 6.75 percent. The company also has 750,000 shares of 7 percent preferred stock and 2.5 million shares of common stock outstanding..
Sloan Transmissions, Inc., has the following estimates for its new gear assembly project: price = $1,200 per unit; variable costs = $240 per unit; fixed costs = $2.6 million; quantity = 70,000 units. What values should the company use for the four va..
The firm's weighted average cost of capital, denoted rwacc, is the cost of capital that reflects the risk of the overall business, which is the combined risk of the firm's equity and debt. When using the discounted free cash flow model we should use ..
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