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Given the following information, what is the total cash flow to Class A investors in year 1? (State your answer as a positive number, rounded to the nearest cent.) A CMO is being issued with 3 tranches. The A tranche will consist of $20M of principal and have a coupon of 7%. The B tranche will have a coupon of 7.5% and a principal of $10M. The Z tranche will carry a coupon of 8.25% with a principal of $25M. The mortgages backing the security issued are FRM at 8.5% with 10 year maturities and annual payments (for simplicity). The issue will be over collateralized by $3M and the issuer (residual) will receive cash flows only after all classes of investors have been completely repaid. Priority payments will be made to the A tranche and will include the promised coupon. Interest will be accrued to the Z tranche until A is completely repaid. The B class will receive interest payments only until the A class is repaid. The A class will then receive all remaining CFs from the pool that year. After A is repaid, B will receive priority principal payments. The Z class will accrue interest at 8.25% until both A and B are repaid. It will receive current interest and principal payments at that time. Assume there is no prepayment and no servicing fees.
A retailer bought a sofa for $200. The initial price was $449, however the sofa sold for $329. What were the initial markup percentage_______________; maintained markup percentage_______________; markdown percentage__________; and reduction percentag..
What does this imply about the firm's overall degree of transaction exposure? Are currency correlations perfectly stable over time?
A zero coupon bond with 2.5 years to maturity has a yield to maturity of 25% per annum. A 3-year maturity annual-pay coupon bond has a face value of $1000 and a 25% coupon rate. The coupon bond also has a yield to maturity of 25%. Does the longer mat..
John Jones currently holds tax-exempt bonds that pay 7% interest and is in the 32% tax bracket. He is considering buying taxable bonds. With all else the same, what interest rate on the taxable bonds will he need to get the same after-tax return as t..
Discuss how a project’s risk can be incorporated into capital budgeting analysis. Should discounted cash flows be used to evaluate capital budgeting projects?
Which of the following statement about the pacesetting style of leadership is false?
Which of the following statements related to preferred stock is correct? Preferred shareholders normally receive one vote per share of stock owned. Preferred shareholders determine the outcome of any election that involves a proxy fight. Preferred sh..
ratio analysiscalculate the current ratio quick ratio cash to current liabilities ratio over a two-year period.
Annieco's last dividend was $1.50 and is expected to grow at a 10% rate per year. The current stock price is $48. What is the current cost of common equity for this company?
You are evaluating a project for a small manufacturing firm. The firm has provided the following information: the initial cost of the project is $2,500 for equipment purchase; the CCA rate is 10 percent; tax rate is 25 percent; and the pre-tax cash f..
Fijisawa, Inc. is considering a major expansion of its product line and has estimated the following cash flows associated with such an expansion. Calculate the net present value. Calculate the profitability index. Calculate the internal rate of retur..
The price of a laser printer purchased by Paul's Printers and Office Supplies was $713. It cost $27 for delivery. The salvage value at the end of a 5-year life is $65. Prepare a depreciation schedule using the sum-of-the-year's method, and then enter..
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