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You have been assigned to implement a three-month hedge for a stock mutual fund portfolio that primarily invests in medium-sized companies. The mutual fund has a beta of 1.25 measured relative to the S&P Midcap 400, and the net asset value of the fund is $165 million.
a. Should you be long or short in the Midcap 400 futures contracts?
Long:
Short:
b. Assuming the Midcap 400 Index is at 640 and its futures contract size is 500 times the index, determine the appropriate number of contracts to use in designing your cross-hedge strategy. (Do not round intermediate calculations. Round your answer to the nearest whole number.)
Contracts:
The following estimates have been prepared for a project: What must be the variable cost per unit?
If you were to put $1,000 in the bank at 6% interest each year for the next ten years, which table would you use to find the ending balance in your account?
Medwig Corporation has a DSO of 23 days. The company averages $5,000 in credit sales each day. What is the company's average accounts receivable? Round your answer to the nearest dollar. Williams & Sons last year reported sales of $13 million and an ..
A put option is currently selling for $5.70. It has a strike price of $50 and seven months to maturity. The current stock price is $57. The risk-free rate is 4.6 percent, and the stock will pay a $2.70 dividend in two months. What is the price of a c..
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During the year, the Senbet Discount Tire Company had gross sales of $1.25 million. The firms's cost of goods sold and selling expenses were $544,000 and $234,000, respectively. The firm also had notes payable of $990,000. What was the firm's net inc..
You have decided to invest $70,000 in Stock Fund, and $30,000 in Bond. The returns for each fund are forecasted below: Fill in the portfolio’s forecasted return for a strong economy and a weak economy. Then calculate the expected return for the portf..
The current price of a stock paying no income is 20.37 and the six-month continuous interest rate is 7.48%. European call and put options with strike price 24 and exercise date in six months are trading at 5.09 and 7.78, respectively. Find an arbitra..
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