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1. A protective covenant:
A. protects the borrower from unscrupulous practices by the lender.
B. guarantees the interest and principal payments will be paid in full on a timely basis.
C. prevents a bond from being called.
D. limits the actions of the borrower.
E. guarantees the market price of a bond will never be less than par value.
2. Toy Mart recently announced that it will pay annual dividends at the end of the next two years of $1.60 and $1.10 per share, respectively. Then, in Year 5 it plans to pay a final dividend of $13.50 a share before closing its doors permanently. At a required return of 13.5 percent, what should this stock sell for today?
$3.24
$16.20
$9.43
$13.33
$12.70
Erna Corp. has 8 million shares of common stock outstanding. The current share price is $73, and the book value per share is $7. Erna Corp. also has two bond issues outstanding. Suppose the most recent dividend was $4.10 and the dividend growth rate ..
Given the tax rate of 40% of this corporation, calculate its after-tax weighted average cost of capital (WACC) for Duke Corporation. Answer true, false or uncertain and explain briefly on the following statement. "the after-tax wacc cannot ever be hi..
Suppose you had held a portfolio consisting of 50% of Stock A and 50% of Stock B. Calculate the standard deviation of returns for each stock for the portfolio. Year rA rB 2009 -30.00% -7.50% 2010 63.00% 22.50% 2011 30.00% -19.50% 2012 -12.00% 75.00% ..
Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 24 percent for the next three years, with the growth rate falling off to a constant 6 percent thereafter. If the required return is 14 percent, and the company just paid a di..
The six-month forward exchange rate is 1.3950. The six-month USD interest rate is 1% per annum continuously compounded. Estimate the six-month euro interest rate.
Drew recently purchased a new machine for his business. The price of the machine was $12,000, but Drew also paid $100 in sales tax, $300 in freight, and $1,000 in installation and testing costs. What is Drew's basis in the new machine?
You are planning to save for retirement over the next 25 years. To do this, you will invest $700 a month in a stock account and $300 a month in a bond account. The return of the stock account is expected to be 9.0 percent, and the bond account will p..
Nynet, Inc., paid a dividend of $3.99 last year. The company's management does not expect to increase its dividend in the foreseeable future. If the required rate of return is 17.0 percent, what is the current value of the stock?
A cost-cutting project has an initial cost of $1,200 and annual costs of $380 for each year of the project's 4-year life. The equivalent annual cost for this project is best described as the:
In mid-2010, some policymakers and economists were afraid that the U.S. economy might slip into another recession,- What does an upward-sloping yield curve have to do with the chance that a recession may occur?
Moonlight Bay Inn is incorporated on January 2, 2010, by its three owners, each of whom contributes $20,000 in cash in exchange for shares of stock in the business. In addition to the sale of stock, the following transactions are entered into during ..
Conch Republic Electronics is a midsized electronics manufacturer located in Key West, Florida. The company president is Shelly Couts, who inherited the company. The company originally repaired radios and other household appliances when it was founde..
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