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Pierce furnishings generated $2 million in sales during 2008, and its year-end total assets were $1.5 million. Also, at year-end 2008, 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 2009, the company estimates that its assets must increase by $.75 for every $1.00 increase in sales. Pierces profit margin is 5%, and its payout ratio is 40%. How large a sales increase can the company achieve without having to raise funds externally?
Consider four different stocks, all of which have a required return of 17 percent and a most recent dividend of $4.50 per share. Stocks W, X, and Y are expected to maintain constant growth rates in dividends for the foreseeable future of 10 percent, ..
The Zecor Company has warrants outstanding with an exercise price of $45. The warrants have a market price of $21. Zecor's common stock is currently selling at $52 per share. How many shares of stock can be purchased with this warrant? Show work.
Jaster Jets has $17 billion in total assets. Its balance sheet shows $0.85 billion in current liabilities, $11.05 billion in long-term debt, and $5.1 billion in common equity. It has 700 million shares of common stock outstanding, and its stock price..
ABC Corp. issued a 12 percent, 20 year coupon rate bond 5 years ago. Interest rates are now 8 percent. The par value of the bond is $1,000. Based on semi-annual analysis, what is the current price of the bond?
You buy a(n) 7.8% coupon, 7-year maturity bond for $982. A year later, the bond price is $1,152. Assume coupons are paid once a year and the face value is $1,000. What is the new yield to maturity on the bond (one year from now)? What is your bond's ..
What is the accumulated sum of each of the following streams of payments?
Scanlin, Inc., is considering a project that will result in initial after tax cash savings of $1.76 million at the end of the first year, and these savings will grow at a rate of 3 percent per year indefinitely. The cost-saving proposal is somewhat r..
Which yield curve theory is based on the premises that financial instruments of different terms are not substitutable and therefore the supply and demand in the markets for short-term and long-term instruments is determined largely independently?
Find the solution using the mathematical equivalence formulae (such as F=P(1+i)n ), substitute and solve (with your calculator – not with the tables) for the final answer. Solve by using the proper equivalence expressions (such as F = P(F/P, i, n)) a..
A firm decides to use debt to raise its return on equity. It currently has sales of $2 million, total assets of $1 million and a debt ratio of 20%. It's net profit margin has been 10% and it expects it to stay there into the future. If it borrows an ..
The common stock of Omega Corporation is currently selling for $50 per share. It is expected that Omega will pay a dividend equal to $2 per share this year. In addition, analysts have indicated that the company has been growing at a constant rate of ..
The write a short report outlining the legislation/convention, what is it used for, why is it important in your organsation and how can it relate to business operations.
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