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New York Waste (NYW) is considering refunding a $50,000,000, annual payment, 14% coupon, 30-year bond issue that was issued 5 years ago. It has been amortizing $3 million of flotation costs on these bonds over their 30-year life. The company could sell a new issue of 25-year bonds at an annual interest rate of 10% in today's market. A call premium of 14% would be required to retire the old bonds, and flotation costs on the new issue would amount to $3 million. NYW's marginal tax rate is 40%. The new bonds would be issued when the old bonds are called. Should the bonds be refunded? Calculate the NPV of refunding.
What is the dividend yield? (Round your answer to 2 decimal places. What is the expected capital gains yield?
At the starting of last year, you invested $4,000 in 80 shares of the Chang company. During the year, Change paid dividends of $5 per share.
Provide suitable example of three companies with workings out of how third company has greater required rate of return even if standard deviation of returns of third company share is lower.
Suppose that you own 3,000 shares of Blueco, Inc.'s common stock and which you currently receive cash dividends of $.42 per share per year.
Rainbow Company has a debt-equity ration of 1.25. Return on assets is 7.5%, and total equity is $625,000. What is the equity multiplier? Return on equity? Net Income?
Who are the main users of financial statements? Does each user look for the same information? Explain and give examples.
Springfield Nuclear Energy Inc. bonds are currently trading at $1,105.38. The bonds have a face value of $1,000, a coupon rate of 9.5% with coupons paid annually, and they mature in 15 years. What is the yeild to maturity of the bonds?
Garth's Micro Brewery, whose shares are currently trading at $40 per share, is considering acquiring Wayne's Beer Bottling Co. What is the offer value per share and offer premium?
Determine what financial information does the current ratio measure and when you calculate a current ratio, what does the calculated number mean?
Is direct method or stop-down method better for cost allocation within St. Benedict’s? Describe your answer.
Assume that you just won the state lottery. Your prize can be taken either in form of $40,000 at the end of each of the next 25 years (i.e., $1 million over 25 years) or as a lump sum of $500,000 paid immediately.
Risky, Corporation, an S corporation, borrows $100,000 from The Last Rational Bank for use in the real estate business. The $100,000 borrowed
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