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a) In 2013, McDowell Enterprises negotiated and closed a long-term lease contract for newly constructed truck terminals and freight storage facilities. The buildings were constructed on land owned by the company. On January 1, 2014, McDowell took possession of the leased property. The 20-year lease is effective for the period January 1, 2014, through December 31, 2033. Advance rental payments of $801,000 are payable to the lessor (owner of facilities) on January 1 of each of the first 10 years of the lease term. Advance payments of $408,000 are due on January 1 for each of the last 10 years of the lease term. McDowell has an option to purchase all the leased facilities for $1 on December 31, 2033. At the time the lease was negotiated, the fair value of the truck terminals and freight storage facilities was approximately $7,216,800. If the company had borrowed the money to purchase the facilities, it would have had to pay 9% interest. Compute the present value of lease value and purchase value.
b) Last year the company exchanged a piece of land for a non-interest-bearing note. The note is to be paid at the rate of $15,250 per year for 9 years, beginning one year from the date of disposal of the land. An appropriate rate of interest for the note was 11%. At the time the land was originally purchased, it cost $90,490. What is the fair value of the note?
Seventeenth Bank has an issue of preferred stock with $9.00 stated dividend that just sold for $60 per share. What is the bank’s cost of preferred stock? (Show your work and round your answer to two decimal places
A retail customer wishes to purchase a home. She needs to borrow money to buy it. Suggest which products might be useful to them, and how they are consistent with the aims of Islamic banking?
Suppose you receive 2,500,000 British Pounds (not Euros) today and plan to convert into US dollars early next February. Which is the correct action to take today in order to hedge against GBP exchange rate risk?
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She also has mortgage on condo for $97,500 of which $3,200 is payable during the current year. total current asset is?
The a/p aging report shows: A. Purchases by vendor detail B. An item list C. Vendor transaction history and trial balance D. Payments made by customers E. Due and overdue bills
To avoid any uncertainty regarding his business' financing needs at the time when such needs may arise, Cyrus Brown wants to develop a cash budget for his latest venture: Cyrus Brown Manufacturing (CBM)
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Brendan was given a gold coin originally purchased for $1 by his great grandfather 50 years ago. Today the coin is worth $450. Determine the rate of return (interest rate) realized from the original $1 investment to the future value of $450. (You are..
Which of the following will increase the rate of return for a security that plots on the security market line?
The risk free rate is 7%, the return in the market is 10%, and the beta is 1.30. What return must you receive to be satisfied that you are being fairly compensated for the risk of the firm?
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