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An investor in the 28 percent tax bracket is trying to decide which of two bonds to purchase.
One is a corporate bond carrying an 8 percent coupon and selling at par. The other is a municipal bond with a 5.5 percent coupon, and it, too, sells at par. Assuming all other relevant factors are equal, which bond should the investor select?
A Treasury bill with 141 days to maturity is quoted at 97.540. What is the bank discount yield, the bond equivalent yield, and the effective annual return? (Do not round intermediate calculations. Enter your answers as a percent rounded to 3 decimal ..
Consider a project to supply 104 million postage stamps per year to the U.S. Postal Service for the next five years. You have an idle parcel of land available that cost $1,940,000 five years ago; if the land were sold today, it would net you $2,140,0..
All of the following accounts are considered to be current liabilities on the balance sheet except:
Harris Company must set its investment and dividend policies for the coming year. It has three independent projects from which to choose, each of which requires a $3 million investment. These projects have different levels of risk, and therefore diff..
GTB, Inc., has a 20 percent tax rate and has $53.00 million in assets, currently financed entirely with equity. Equity is worth $5 per share, and book value of equity is equal to market value of equity. The firm is considering switching to a 20-perce..
Osbourne, Inc., has an odd dividend policy. The company has just paid a dividend of $5 per share and has announced that it will increase the dividend by $4 per share for each of the next five years, and then never pay another dividend. If you require..
Bertelli's is analyzing a project with an initial cost of $55,000 and cash inflows of $33,000 a year for two years. This project is an extension of the firm's current operations and thus is equally as risky as the current firm. What is the projected ..
Stephen and Chris are also looking at issuing preferred and common stock to further expand TechU's businesses. They also want to examine their existing stock value to get a picture of how much they can sell additional stock for. What is the current v..
Other things equal, as the discount rate and the time increases, the future value:
A bond has a $1,000 par value, 20 years to maturity, a 6.5% semi-annual coupon, and sells for $1,037.25. Find the yield to maturity. Find the current yield. Find the yield to call if the bond is called in 6 years with a call price of $1,020
When measuring the cost of capital, many companies measure the cost of the common stock in the company. However, does common stock have a cost when there is no obligation to pay the stockholders except upon liquidation of the company?
Sqeekers Co. issued 11-year bonds a year ago at a coupon rate of 8.9 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 7.2 percent, what is the current bond price?
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