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1. One year ago Lerner and Luckmann Co. issued 15-year, noncallable, 5.5% annual coupon bonds at their par value of $1,000. Today, the market interest rate on these bonds is 5.5%. What is the current price of the bonds, given that they now have 14 years to maturity?
a. $1,000.00
b. $990.37
c. $993.58
d. $1,003.21
e. $996.79
2. Field Industries' outstanding bonds have a 25-year maturity and $1,000 par value. Their nominal yield to maturity is 9.25%, they pay interest semiannually, and they sell at a price of $1,075. What is the bond's nominal (annual) coupon interest rate?
a. 9.86%
b. 9.70%
c. 10.18%
d. 10.02%
e. 10.34%
During 2014, Raines Umbrella Corp. had sales of $860,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $680,000, $85,000, and $180,000, respectively. In addition, the company had an interest expense of $55,0..
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Fyre, Inc., has sales of $625,000, costs of $260,000, depreciation expense of $79,000, interest expense of $43,000, and a tax rate of 35 percent. What is the net income for this firm? Suppose the firm had 40,000 shares of common stock outstanding. Wh..
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A company’s assets consist of $15,775 of cash, $45,865 of accounts receivable, $87,234 of inventory, What is the company’s times interest earned?
What is required of the corporation to claim the tax credit?
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