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1. Yield to maturity Moe’s Inc. has bonds outstanding with a par value of $1000 and 10 years to maturity. These bonds pay a coupon of $45 every six months. Current market conditions are such that the bond sells for $938. Calculate the yield to maturity on the issue.
2. Duration A newly issued 5-year Altec Corp. bond has a price of $1,095.99, a par value of $1,000 and a 12% coupon rate. Find the duration of the bond.
Service Department Charges In divisional income statements prepared for Mills Construction Company, the Payroll Department costs are charged back to user divisions on the basis of the number of payroll checks, and the Purchasing Department costs are ..
Two years ago, an investor purchased a $1,000 par 6% coupon bond that pays interest semi annually. Inflation over the last two years has been 2% per year. the inflation-adjusted value of the next interest payment is ?
For each of the following coverages briefly describe the type of coverage provided and give an example of a loss that would be covered.
GTB has a 25% tax rate and has $85.80 million in assets, currently financed entirely with equity. Equity is worth $6 per share, and book value of equity is equal to market value of equity. What will be the level of the expected EPS if GTB switches to..
Suppose your client is risk-averse but can invest in only one of the three securities, A, B, or C, in an uncertain world characterized as follows. Next year the economy will be in an expansion, normal, or recession state with probabilities 0.43, 0.31..
A firm pays a current dividend of $2, which is expected to grow at a rate of 8% indefinitely. If the current value of the firm’s shares is $54, what is the required return applicable to the investment based on the constant-growth dividend discount mo..
Determine the net (pretax) benefit to Peterson of using wire transfers if annual sales are $15 million and $75 million.
Suppose Levi's Luxury Shop has cash of $8,745, inventory of $36,287, fixed assets of $14,204, accounts payable of $66,410, and accounts receivable of $20,033. What is the current ratio?
Last year Joan purchased a $1,000 face value corporate bond with an 11% annual coupon rate and a 10 year maturity. At the time of purchase, it had an expected yield to maturity of 9.79%. If Joan sold the bond today for $1060.49 what rate of return wo..
Tell Corporation plans a new issue of preferred stock paying annual dividend $5 per share. Similar risk stock currently offers an annual return to investors of 17%. What is the price of this preferred stock?
(Net present value calculation) Big Steve’s, makers of swizzle sticks, is considering the purchase of a new plastic stamping machine. This investment requires an initial outlay of $100,000 and will generate net cash inflows of $18,000 per year for 10..
The preferred stock of Gator Ind. sells for $35.87 and pays $2.76 per year dividends. What is the cost of preferred stock pricing? What are the flotation costs for issuing the preferred shares and ow should this cost be incorporated into the NVP of t..
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