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Moonscape has just completed an initial public offering. The firm sold 4 million shares at an offer price of $10 per share. The underwriting spread was $.60 a share. The price of the stock closed at $14 per share at the end of the first day of trading. The firm incurred $400,000 in legal, administrative, and other costs. What were flotation costs as a fraction of funds raised? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Costs as percent of funds raised 42 %
Coccia Co. wants to issue new 18-year bonds for some much-needed expansion projects. The company currently has 9 percent coupon bonds on the market that sell for $1,045, make semiannual payments, and mature in 18 years.
The Jackson–Timberlake Wardrobe Co. just paid a dividend of $1.10 per share on its stock. The dividends are expected to grow at a constant rate of 5 percent per year indefinitely. Investors require a return of 11 percent on the company's stock. What ..
In your own simple words, compare the usefulness of the IRR rule and NPV rule for capital budgeting decisions. Explain how they are connected and outline how to give meaning to the imaginary roots of the IRR equation.
Martin invested $1,000 six years ago and expected to have $1,500 today. He has not added or withdrawn any money from this account since his initial investment. All interest was reinvested in the account. Martin earned simple interest rather than comp..
Which of the following investment alternatives would provide the greatest ending wealth for your investment if you are thinking of opening a savings account? Record the return alternative with the highest EAR. Government of St Vincent and the Grenadi..
Insurers may reject individuals for long-term coverage because of:
You receive $2,800 at the end of each year for 25 years starting at the end of year 1 and ending at the end of year 25 EXCEPT for years 11, 12 and 13. For years 11, 12 and 13, you will make payments (not receive payments) of $1,000 at the end of thos..
Identify the macro sovereign risks and problems and their potential effect on QN's competitive advantage (in fact QN has not established what its competitive advantage really is, though it has been very successful in the UK and the euro area).
The most important insight regarding capital structure goes back to Modigliani and Miller: With perfect capital markets, a firm's security choice alters the risk of the firm’s equity, but it does not change its value or the amount it can raise from o..
Suppose a company has a net income of $1,000,000 and a plowback ratio of 40%. There are 50,000 shares of stock outstanding. The company plans to increase dividends by 22% each year for the next 2 years and then apply a 2.25% growth rate to dividends ..
Kinky Copies may buy a high-volume copier. The machine costs $170,000 and will be depreciated straight-line over 5 years to a salvage value of $30,000. Kinky anticipates that the machine actually can be sold in 5 years for $37,000.
LC Delivery has decided to sell 1,500 shares of stock through a Dutch auction. The bids received are as follows:300 shares at $36 a share, 500 shares at $35, 1,000 shares at $34, 1,200 shares at $33, and 1,800 shares at $32 a share. How much will LC ..
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