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Microtech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Microtech to begin paying dividends, beginning with a dividend of $1.75 coming 3 years from today. The dividend should grow rapidly - at a rate of 50% per year - during Years 4 and 5; but after Year 5, growth should be a constant 7% per year. If the required return on Microtech is 14%, what is the value of the stock today? Round your answer to the nearest cent.
Urban's which is currently operating at full capacity, has sales of $47,000, current assets of $5,100, current liabilities of $6,200, net fixed assets of $51,500, and a 5 percent profit margin. The firm has no long-term debt and does not plan on acqu..
The Faulk Corp. has a 6 percent coupon bond outstanding. The Gonas Company has a 13 percent bond outstanding. Both bonds have 8 years to maturity, make semiannual payments, and have a YTM of 9.5 percent. If interest rates suddenly fall by 2 percent, ..
Bruce owns several restaurants and hotels near a local interstate. One restaurant, Beef and More, needs modernized. He is trying to decide whether to accept an offer and sell Beef and More as is for the offer price of $1.1 million or renovate the res..
For a project to have more than one IRR, then both IRRs must be greater than the WACC. If two projects are mutually exclusive, then they are likely to have multiple IRRs. If a project is independent, then it cannot have multiple IRRs.
What are the five Cs of credit? Discuss their importance in credit analysis. Describe the five Cs of bad credit introduced in the text.
We know the following about Radice. Total assets are $120m, D is $40m, E is $60m, preferred stock of $20m, cash is $10m and the # of shares is 1m. We estimate that the market value of equity is 3 times the book value of it. Finally, a fire sale of th..
Over the years, Janjigian Corporation's stockholders have provided $15,250 of capital, part when they purchased new issues of stock and part when they allowed management to retain some of the firm's earnings. The firm now has 1,000 shares of commons ..
Elements of the Statement of Cash Flows
Utilizing the free cash flow approach calculates the value of a firm's common stock given the following information:
Tocserp is considering the purchase of a new machine that will produce widgets. The widget maker will require an initial investment of $8,000 and has an economic life of five years and will be fully depreciated by the straight line method. The machin..
Most states have turned to the lottery to raise money for education and other state financing needs. Determine the largest payout for the state in which you reside. Explain the options for receiving the money and select the method you would choose. P..
Mullet Technologies is considering whether or not to refund a $175 million, 13% coupon, 30-year bond issue that was sold 5 years ago. It is amortizing $8 million of flotation costs on the 13% bonds over the issue's 30-year life. Mullet's investment b..
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