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David Cheung is an operations manager for a large manufacturer. He earned $72,500 in 2015 and plans to contribute the maximum allowed to the firm's 401(k) plan. Assuming that David is in the 25 percent tax bracket, calculate his taxable income and the amount of his tax savings. How much did it actually cost David on an after-tax basis to make his retirement plan contribution?
To help finance a major expansion, Castro Chemical Company sold a no callable bond several years ago that now has 20 years to maturity. This bond has a 9.25% annual coupon, paid semi-annually, sells at a price of $875, and has a par value of $1,000. ..
You expect Seton Venture to have a ROE of 18%, a beta of 1.25, an expected earnings per share (E1) of $4.73, and a stable retention ratio (b) of 70%. Calculate the intrinsic value estimate of Seton Venture stock (V0) according to the constant growth ..
Bennington Industrial Machines issued 142,000 zero coupon bonds seven years ago. The bonds originally had 30 years to maturity with a yield to maturity of 7.2 percent. Interest rates have recently increased, and the bonds now have a yield to maturity..
You own a portfolio that is 35 percent invested in Stock X, 20 percent in Stock Y, and 45 percent in Stock Z. The expected returns on these three stocks are 9 percent, 17 percent, and 13 percent, respectively. What is the expected return on the portf..
You want to buy a car. To do so, you will need to take out a loan in the amount of $19,000. The longest you are willing to pay on the loan is five years. The interest rate on this type of loan is 5.0% per year. How much will the equal monthly payment..
If an investor buys shares in a no-load mutual fund for $33.10 and the shares appreciate to $43.30 in a year. a) what would be the percentage return on the investment? If the fund charges an exit fee of 1 percent, what would be the return on the inve..
The Jackson–Timberlake Wardrobe Co. just paid a dividend of $1.10 per share on its stock. The dividends are expected to grow at a constant rate of 5 percent per year indefinitely. Investors require a return of 11 percent on the company's stock. What ..
A 15-year bond with a face value of $1,000 currently sells for $850. Which of the following statements is CORRECT?
Saving for a Child’s Education. Harry and Sally want to prepare for their future child by saving appropriately for his/her college education. Suppose they anticipate needing the funds 20 years from today. Assume that the cost of a four-year college e..
Multinational firms can reduce their tax liability through transfer pricing. Countries that adopt a fixed exchange rate give up control of their monetary policy. If the shareholders gain from a merger comes at the expense of other stakeholders, then..
Assume that a firm's manager decides to fund its entire investment need this year by issuing $500 million in bonds. After-tax cost of these bonds is 6%. The firm’s optimal capital structure calls for 40% debt and 60% equity. The cost of equity is 16%..
You borrow $11M by issuing a par-value bond that has a 10-year maturity, promises an annual coupon payment of 5 percent, and has a face value of $10M. The expected return on this bond is also 5 percent. What is the value of this bond, as determined b..
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