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Problem - You are reviewing the notes payable and interest expense accounts of Cole Manufacturing Co. as of December 31, 2017 and noted that the company regularly borrows from the bank in order to ?nance working capital. The following schedule shows loans with 12% interest rate, with interest payable at maturity. All loans are repaid at its scheduled maturity date and interest expense is recorded when the loans are repaid.
DATE OF LOAN
AMOUNT
MATURITY DATE
TERM OF LOAN
Nov. 01, 2016
P500,000
Oct. 31, 2017
1 year
Feb. 01, 2017
1,500,000
July 31, 2017
6 months
May 01, 2017
800,000
Jan. 31, 2018
9 months
The client recorded interest expense of P 150,000 for 2017. Compute for the correct amount of interest expense that should be reported in the 2017 income statement.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
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