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Suppose that Ken-Z Art Gallery has annual sales of $894,000, cost of goods sold of $584,000, average inventories of $170,000, average accounts receivable of $139,000, and an average accounts payable balance of $64,000. Assuming that all of Ken-Z’s sales are on credit, what will be the firm’s cash cycle? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)
A stock has a beta of 1.3 and an expected return of 12.8 percent. A risk-free asset currently earns 4.3 percent. Required: (a) What is the expected return on a portfolio that is equally invested in the two assets?
Suppose your firm is seeking a five-year, amortizing $900,000 loan with annual payments and your bank is offering you the choice between a $950,000 loan with a $50,000 compensating balance and a $900,000 loan without a compensating balance. If the in..
What is the future value of an annuity where $3,000 is deposited every 6 months for 8 years, and earns interest at 12 percent compounded semi-annually?
Porter Plumbing's stock had a required return of 10.50% last year, when the risk-free rate was 5.50% and the market risk premium was 4.75%. Then an increase in investor risk aversion caused the market risk premium to rise by 2%. The risk-free rate an..
The current exchange rate is 0.93 euros per dollar, but you believe the dollar will decline to 0.85 Euros per dollar. If a euro-denominated bond is yielding 2%, what return do you expect in U.S. dollars?
You hold a diversified portfolio consisting of a $5,000 investment in each of 20 different common stocks. The portfolio beta is equal to 1.15. You have decided to sell one of your stocks, a lead mining stock whose b is equal to 1.0, for $5,000 net an..
Shinoda Corp. has 6 percent coupon bonds making annual payments with a YTM of 5.4 percent. The current yield on these bonds is 5.75 percent. How many years do these bonds have left until they mature?
You need to accumulate $10,000. To do so, you plan to make deposits of $1,250 per year, with the first payment being made a year from today, in a bank account which pays 12 percent annual interest. Your last deposit will be less than $1,250 if less i..
The risk-free rate of return is 6.0%, the expected rate of return on the market portfolio is 18%, and the stock of Xyrong Corporation has a beta coefficient of 1.7. Xyrong pays out 50% of its earnings in dividends, and the latest earnings announced w..
What is just-in-time (JIT) inventory system? What are the advantages and disadvantages of JIT systems?
Determine the incremental cash flows associated with the proposed replacement. Be sure to consider the depreciation in year 6.
A) Assume the following: Euro spot = Euro 0.8115/$1.00; SwF spot = SwF 1.4260/$1.00; and Euro/SF spot = Euro 0.5625/SwF 1.00. Assume you have $1,000,000 available for arbitrage transactions. Show how you can make arbitrage profits at these spot rates..
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