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A firm's preferred stock pays an annual dividend of $4, and the stock sells for $73. Flotation costs for new issuances of preferred stock are 7% of the stock value. What is the after-tax cost of preferred stock if the firm's tax rate is 35%?
Suppose your company imports computer motherboards from Singapore. The exchange rate is S$1.2348/US$. You have just placed an order for 34,000 motherboards at a cost to you of 142.9 Singapore dollars each. You will pay for the shipment when it arrive..
You are considering two mutually exclusive projects. Project A has cash flows of -$72,000, $21,400, $22,900, and $56,300 for years 0 to 3, respectively. Should you accept or reject these projects based on payback analysis?
Fifth National Bank just issued some new preferred stock. The issue will pay an annual dividend of $24 in perpetuity, beginning 13 years from now. If the market requires a return of 3.8 percent on this investment, how much does a share of preferred s..
BMX Company has one employee. FICA social security taxes are 6.2% of the first 117,000 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. prepare the employer’s September 30 journal entries to record salary expense and its related ..
McGilla Golf has decided to sell a new line of golf clubs. The clubs will sell for $790 per set and have a variable cost of $390 per set. The company has spent $149,000 for a marketing study that determined the company will sell 53,000 sets per year ..
Describe the basic features of the three functions underlying the credit process at commercial banks.
We are evaluating a project that costs $1,100,000, has a ten-year life, and has no salvage value. Assume that depreciation is straight-line to zero over the life of the project. Sales are projected at 42,000 units per year. Calculate the best-case an..
Bob Gibson's has sales for the year of $311,400, cost of goods sold equal to 78 percent of sales, and an average inventory of $42,800. The profit margin is 6 percent and the tax rate is 35 percent. How many days on average does it take the firm to se..
Your company has been approached to bid on a contract to sell 3,900 voice recognition (VR) computer keyboards a year for four years. Due to technological improvements, beyond that time they will be outdated and no sales will be possible. Additionally..
The state lottery's million dollar payout provides for $2 million to be paid over 24 years in 25 payments of $80,000. The first $80,000 payment is made immediately, and the 24 remaining $80,000 payments occur at the end of each of the next 24 years. ..
A firm has decided to renew part of its production process by acquiring a new and more efficient machine at a cost of $24 million which can be depreciated on a linear basis over 4 years. At the end of the project, the resale market value of the machi..
The portfolio managers of a firm determined that over the next year interest-sensitive assets are in the amount of $1.5 billion while interest-sensitive liabilities are in the amount of $1.8 billion. Calculate GAP and Duration GAP (DGAP) for this sit..
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