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You have just received notification that you have won the $2.18 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you’re around to collect), 62 years from now.
Required: What is the present value of your windfall if the appropriate discount rate is 11 percent? (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16). Enter your answer in dollars, not millions, e.g.
What is the present value of the following annuity? $1,021 every half year at the beginning of the period for the next six years, discounted back to the present at 8.93 percent per year, compounded semi annually?
You have purchased a house for $190,000. A bank will make you a loan at 4% interest for 30 years with annual payments. About what would be your annual payment?
Delta Mills and Franklin Mill are identical firms except for their capital structures. Delta is an unlevered firm with $750,000 in stock. Franklin is a levered firm with $375,000 of stock and an interest rate on debt of 8 percent. Both Delta and Fran..
The bid-ask spread on a security is the difference between:
Nofal Corporation will pay a $4.70 per share dividend next year. The company pledges to increase its dividend by 7.25 percent per year, indefinitely. Required: If you require a return of 10 percent on your investment, how much will you pay for the co..
The Johnson National Bank has purchased a bond that has a coupon rate of 5.5% and a face value of $1000. It has 4 years to maturity and is selling in the market for $917. The bond makes annual coupon payments. What is the duration of the bond? A) 5.5..
For each of the following cash flows, decide whether there is a unique yield rate i > ?1? Can you guarantee that the yield rate is positive?
What is the (1) marginal and (2) average tax rate paid for a firm with taxable income of a). $25,000? b). $85,000? c). $250,000? d). $12 million? e). $200 million?
The examples in the text show a unique characteristic (think: positive or negative sign) associated with how the PRESENT VALUE (PV) of a monetary sum (when given) should be expressed when you are solving for future value (FV) of that sum. What is tha..
Ichinomiya Company has a total value of $54 million. Its debt is in the form of zero-coupon bonds, which will mature in 4 years. The face value of bonds is $15 million. The riskless rate is 3.15% at present. The σ of Ichinomiya is 0.42. Find the debt..
Pricing objectives and pricing methods in the services sector
Blandet Company has $4,000,000 in assets. It has decided to finance 30% with long term financing (9%rate) and 70% with short-term financing (7%) rate. What will be the annual interest cost?
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