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Question: You are planning to open a small shelter for homeless men in the basement of your church. The governing board has promised you the funds needed to start up the shelter if you can negotiate a reimbursement rate from the city that covers your operating expenses. You expect that you will be able to house 9 men each night, and the city assures you that there will be no shortage of homeless men at any time during the year. You will have to pay one full-time staff person $37,000 a year, and hire a second part-time staffer for $15,000 a year. You will have laundry and food costs of $35 per man per week, and the church will have to pay an additional $2,600 a year in insurance to cover the activities of the shelter. The City will pay you $180 per homeless man per week, and payments will come 2 months after service has been provided. All salaries and food costs are paid when service is provided. The shelter will not have to pay its share of the insurance costs until the last month of the year. (Remember that 9 a night, means that only 9 will be there for a week.) Develop an annual operating budget using accrual accounting for the shelter in order to show its expected profit or loss. [NOTE: Assume that there are 52 weeks in a year]
Pacific Packaging's ROE last year was only 5%; but its management has developed a new operating plan that calls for a debt-to-capital ratio of 40%.
Bankston Corporation forecasts that if all of its existing financial policies are followed, its proposed capital budget would be so large that it would have to issue new common stock. Since new stock has a higher cost than retained earnings, Banks..
Calculate the gain or loss on disposal. Gain should be entered as a positive number. Loss should be entered as a negative number.
The following equation can, under certain assumptions, be used to forecast financial requirements: Under what conditions does the equation give satisfactory predictions, and when should it not be used?
A given project has a BAC = $10,000, PV(cumulative to date) = $5,000, AC(cumulative to date) = $6,000, and EV(cumulative to date) = $5,500. What is the schedule status of the project?
Sociologists explain deviance by three (3) major perspectives: biological, functional conflict, and symbolic interaction. Identify your role, for example, as a parent and which perspective best reflects your personal experience. Discuss the main r..
The variance of Willow is 0.1960 and the variance of Sky Diamond is 0.1260. What is the correlation coefficient between the returns of the two stocks?
What is the average inventory held during the year including safety stock if the store insists on a 2 days safety stock (assume 365 days a year)?
Assume all after-tax earnings will be distributed to shareholders as dividends. Using the zero growth rate valuation model (g=0), find out the share price of ABC under of the three capital structures.
The Falling Snow Company is considering production of a lighted world globe that the company would price at a markup of 0.30 percent above full cost. Management estimates that the variable cost of the globe will be $68 per unit and fixed costs per..
Stephen Garner opened a law firm by investing $25,000 cash and office furniture with a fair value of $10,400. Organized as a professional corporation, the business issued common stock to Garner.
If each project's cost of capital were 10%, which project, if either, should be selected? If the cost of capital were 17%, what would be the proper choice? What is each project's MIRR at the cost of capital of 10%?
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