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Sales increase Pierce Furnishings generated $2 million in sales during 2014, and its year-end total assets were $1.5 million. Also, at year-end 2014, current liabilities were $500,000, consisting of $200,000 of notes payable, $200,000 of accounts payable, and $100,000 of accrued liabilities. Looking ahead to 2015, the company estimates that its assets must increase by $0.75 for every $1.00 increase in sales. Pierce's profit margin is 7%, and its retention ratio is 30%. How large of a sales increase can the company achieve without having to raise funds externally? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest cent.
Suppose Petron "management team will choose the strategy that leads to the highest expected value of Petron's equity. Which strategy will management choose if Petron currently has no debt, debt with face value of $20million and $40 million?
A trader opens a margin account and purchases 500 shares of Google at $40 per share. The initial margin requirement is 50%. If price increases to $50 per share, how many more shares she can buy by borrowing more from her broker?
Barneycle’s Boat Shop sells 4,000 of its glow-in-the-dark boats each year and has fixed order costs of $180.61 per order. Carrying cost per boat is $200 per year. What is the optimal order quantity for these boats?
Meadow Brook Manor would like to buy some additional land and build a new assisted living center. The anticipated total cost is $29 million. The CEO of the firm is quite conservative and will only do this when the company has sufficient funds to pay ..
The future earnings, dividends, and common stock price of Carpetto Technologies Inc. are expected to grow 5% per year. Carpetto's common stock currently sells for $20.75 per share; its last dividend was $1.80; and it will pay a $1.89 dividend at the ..
A nation-state whose government no longer effectively functions and has lost control of a significant portion of its territory is known as which of the following?
Assume that the real risk-free rate is 4 percent and the maturity risk premium is zero. If the nominal rate of interest on one-year bonds is 11 percent and on comparable-risk two-year bonds it is 12 percent, What is the one-year interest rate that is..
A business borrows $296,926 for 9 years at an annual rate of interest of 6%. If payments are annual and the loan will negatively amortize by $49,469, what will be the annual payment required? What is the present value of a perpetuity making quarterly..
A firm’s capital consists of: - $10m in common with a 14% yield - $6m in preferred with a 7.5% coupon and a 9% yield - $4m in bonds with a 6% coupon and a 4.3% yield-to-maturity. Its average tax rate is 24% and its marginal tax rate is 32%. What is t..
Which one of the following will increase the value of a firm's net working capital?
Assume that the spot FX rate ($/SGD)=0.3000, and tHe (PHP/SGD)=2.0000 (where SGD is the Singapore dollar, and PHP is the Phillipine Peso). Also assume that (PHP/$)=5.0000. Given this information, what is the arbitrage profit to a U.S. investor from c..
Consider a project to produce solar water heaters. It requires a $10 million investment and offers a level after-tax cash flow of $1.59 million per year for 10 years. The opportunity cost of capital is 9.75%, which reflects the project’s business ris..
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