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A firm recently paid a $0.50 annual dividend. The dividend is expected to increase by 10 percent in each of the next four years. In the fourth year, the stock price is expected to be $23. If the required return for this stock is 13.5 percent, what is its current value?
You have won the church spring raffle. You are presented with three price choices, and you must pick the best one. The discount rate if 8%. Choice 1 = $4,800 payment one year from now; Choice 2 = 5 payments of $1,200 starting at the end of this year;..
TexMex Food Company is considering a new salsa whose data are shown below. The equipment to be used would be depreciated by the straight-line method over its 3-year life and would have a zero salvage value, and no change in net operating working capi..
Advance, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 10 years to maturity that is quoted at 108 percent of face value. The issue makes semiannual payments and has a coupon rate of 9 percent annually. What..
The Orleans Parish School Board hired Johnson & Higgins (J&H) to provide consulting services. J & H provided those services over the next few years but was then acquired by Marsh & McLennan, a larger insurance firm. Describe what happened in the rela..
IBM (US) has purchased a non-deliverable forward (NDFs) from Bank of America to hedge Kr300,000,000 account receivable (AR) from Korea. The current spot rate is $.0011/Kr. The NDF forward exchange rate is Kr1065/$. At maturity, the spot rate turns ou..
Ace Products sells marked playing cards to blackjack dealers. It has not paid a dividend in many years, but is currently contemplating some kind of dividend. What adjustments would have to be made to the capital accounts for a 10 percent stock divid..
A proposed project requires an initial cash outlay of $749,000 for equipment and an additional cash outlay of $48,500 in year one to cover operating costs. During years 2 through 4, the project will generate cash inflows of $354,000 a year. What is t..
Bleakly Enterprises has a capital structure of 45 percent common stock, 5 percent preferred stock, and 50 percent debt. The flotation costs are 4.5 percent for debt, 7 percent for preferred stock, and 9.5 percent for common stock. The corporate tax r..
A company's 7% coupon rate, semiannual payment, $1,000 par value bond that matures in 30 years sells at a price of $657.02. The company's federal-plus-state tax rate is 30%. What is the firm's after-tax component cost of debt for purposes of calculat..
Cirque de Soleil's shift from animals, candy and beverage concessionaires in the aisles, and feature performers to a live theater, operatic-style format exemplifies this type of value innovation: George took on a 30-year, $250,000 conventional mortga..
London purchased a piece of real estate last year for $82,600. The real estate is now worth $103,500. If London needs to have a total return of 0.20 during the year, then what is the dollar amount of income that she needed to have to reach her object..
An investor is forming a portfolio by investing $55,000 in stock A that has a beta of 1.33, and $75,000 in stock B that has a beta of 0.95. The market risk premium is equal to 6.30% and Treasury bonds have a yield of 4.25%. What is the required rate ..
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