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Your firm successfully issued new debt last? year, but the debt carries covenants.? Specifically, you can only pay dividends out of earnings made after the debt issue and you must maintain a minimum quick? (acid-test) ratio left parenthesis Current Assets minus Inventory right parenthesis divided by Current Liabilities(Current Assets−Inventory)/Current Liabilities of 1.2. Your net income this year was $69.7 million. Your cash is $10.3 ?million, your receivables are $7.6 ?million, and your inventory is $4.6 million. You have current liabilities of $19.5 million. What is the maximum dividend you could pay? (in cash and in? stock) this year and still comply with your? covenants?
Bond J is a 3 percent coupon bond. Bond K is a 11 percent coupon bond. Both bonds have 9 years to maturity, make semi annual payments, and have a YTM of 7 percent.(a) If interest rates suddenly rise by 3 percent, what is the percentage price change o..
As chairman of Alpha Inc you are evaluating a potential move to acquire Beta Corp. You both have similar risk. "Alpha Inc" has a WACC of 9%. Beta Corp finished the past fiscal year with $3,250,000 in FCF (free cash flow). If free cash flow for beta c..
Compute the MIRR statistic for Project J if the appropriate cost of capital is 9 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Project J Time: 0 1 2 3 4 5 Cash flow –$1,400 $470 $1,680 –$560 $420 –$14..
First Simple Bank pays 8.3 percent simple interest on its investment accounts. First Complex Bank pays interest on its accounts compounded annually. Required: What rate should the bank set if it wants to match First Simple Bank over an investment hor..
You observe that the current interest rate on short-term U.S. Treasury bills is 2.85 percent. You also read in the newspaper that the GDP deflator, which is a common macroeconomic indicator used by market analysts to gauge the inflation rate, current..
Future Value of a Single Payment. If you deposit $6,000 in a bank account that pays 8.3% interest annually, how much would be in your account after 5 years? Round your answer to the nearest cent.
After reflecting on what you have learned and how you have benefited by taking AC430: Advanced Tax—Corporate, write a minimum 1-page response to the questions below. Make sure to address the critical elements so you will be successful in completing t..
Sqeekers Co. issued 13-year bonds a year ago at a coupon rate of 8.5 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 6.8 percent, what is the current bond price?
The preferred stock of Gator Industries sells for $34.63 and pays $2.77 per year in dividends. What is the cost of preferred stock financing? What are the floatation costs for issuing the preferred share and how should this cost be incorporated into..
A long position in a forward contract that was negotiated some time ago will expire in three months and has a delivery price of $33. The current forward price for three-month forward contracts (on the same asset and with the same expiration date as y..
You are currently working at a mid-sized certified public accounting firm. Your client is Bob Jones. Bob, age 60 and single, has recently retired from IBM. Differentiate between accrual accounting and cash basis. Based on the type of business and the..
The "difference" in the buy term and invest the difference strategy is the difference in ______________ between term life insurance and whole life insurance. The primary reason life insurance policies have a savings element is to allow the
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