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Fulkerson Manufacturing wishes to maintain a sustainable growth rate of 9.5 percent a year, a debt-equity ratio of .49, and a dividend payout ratio of 28 percent. The ratio of total assets to sales is constant at 1.26. Required: What profit margin must the firm achieve? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) Profit margin %
Determining present value, relate to compounding, as used in determining future value? How are you able to apply discounting and compounding concepts to lump sum transactions versus transactions that involve a series of equal cash flows?
Your money is tied up and you need to borrow $10,000. The following two alternatives are available at different banks: (1) Pay $3,311.61 at the end of each year for 5 years, starting at the end of the first year (5 payments total at 18 percent nomina..
What is the required return for a stock that has a 5.7% constant-growth rate, a price of $21.25, an expected dividend of $1.70, and a P/E ratio of 10?
Read the Focus on Ethics box (“Psst! Have You Heard Any Good Quarterly Earnings Forecasts Lately?”). Explain what quarterly earnings guidance is, and what purpose it is supposed to serve. If you were a corporate CEO, would you discontinue this practi..
We Cheat U Loans offer to loan you $6,000 at 6% simple interest for a five-year period. In order to make it easier for you to pay, they take each year’s interest of $360 and add it to the $6,000 principal to get $7,800 ($6,000 + 5 x $360).
Presto Cleaners recently liquidated its retail dry cleaning unit. That unit represented 35 percent of the firm's overall market value. Prior to the liquidation, the firm's stock was selling for $28 a share and there were 7,000 shares outstanding. The..
Jim would like to retire in 35 years. Once he retires, he would like to have 120,000 at the end of each year until the day he passes away (30 yrs. after retirement). He believes he can earn a 7% return on his investment. Starting next year how much m..
Jiminy's Cricket Farm issued a 30-year, 10.4 percent semiannual bond 9 years ago. The bond currently sells for 85.5 percent of its face value. The company’s tax rate is 30 percent. What is the pretax cost of debt? What is the aftertax cost of debt?
The direct spot quotes on the pound in New York are $1.4783 – 91. The 30-day forward quotes in points are (bid - ask) 14 – 9. What is the outright 30-day forward bid quote?
At the beginning of 2013, Norris Company had a deferred tax liability of $7,000, because of the use of MACRS depreciation for income tax purposes and units-of-production depreciation for financial reporting. Norris had a retained earnings balance of ..
Someone told you that the table on page 45 of the Cohen Finance Book does not apply to companies like Microsoft or Apple that have much larger profit ratios, not the 1.6% displayed in C4. Is this true or false? Explain.
Consider two mutually exclusive projects with the following cash flows: Project S is a 4 year project with initial (time 0) cash outflow of 3000 and time 1 through 4 cash inflows of 1500, 1200, 800 and 300 respectively. Project L is a 4 year project ..
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