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The most recent financial statements for Live Co. are shown here: Income Statement Balance Sheet Sales $11,000 Current assets $23,719 Debt $23,377 Costs 6,600 Fixed assets 16,598 Equity 16,940 Taxable income $4,400 Total $40,317 Total $40,317 Taxes (34%) 1,496 Net income $2,904 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 32 percent dividend payout ratio. No external equity financing is possible. Required: What is the sustainable growth rate? (Do not round your intermediate calculations.) rev: 09_17_2012 12.7 % 13.2 % 5.8 % 5.15 % 13.7 %
Which one of the following statements concerning liquidity is correct?
A common stock pays an annual dividend per share of $5.25. The risk-free rate is 9% and the risk premium for this stock is 6%. If the annual dividend is expected to remain at $5.25, what is the value of the stock?
Dizzy Corporation’s 10-year semi annual bond bearing a coupon rate of 12% is currently selling for $950. Given this information, which of the following is the correct valuation equation for this bond? Note: PVIFA(r,t) = [{1-1/(1+r)t}/r] and PVIF(r,t)..
You are CFO of a large company that has a few subsidiaries. A new board member is unfamiliar with consolidation procedures particularly with respect to the elimination of intercompany inventory transactions. Provide a summary of your talking points w..
Mammoth Mutual Fund of New York has $10 million to invest in certificates of deposit (CDs) for the next 6 months (180 days). It can buy either a Pittsburgh National Bank (PNB) CD with an annual yield of 11 percent, or a Swiss bank CD with a yield of ..
Describe the margin and maintenance margin of a futures contract. Show an example of the profitability of a futures contract when the price rises by 10 percent on a contract with a 10 percent margin. Summarize the details of Eurodollar futures: prici..
First Simple Bank pays 9.8 percent simple interest on its investment accounts. First Complex Bank pays interest on its accounts compounded annually. Required: What rate should the bank set if it wants to match First Simple Bank over an investment hor..
If the required materials to be purchased are 18,000 pounds, the production needs are three times the direct materials purchases, and the beginning direct materials are three and a half times the direct materials purchases, what are the desired endin..
If you believe that investors require a 20 percent rate of return on a stock of this risk, what price would you recommend as the IPO price for Konawalski?
A bank makes a loan of $200,000 and will receive payments of $1,911.30 each month for 15 years. How much (in dollars) would the bank have to charge in points (or, an origination fee) if it were concerned about the credit quality of the borrower and r..
Bank regulators require adequate capital levels in banks because:
Changing compounding frequency Using annual, semi annual, and quarterly compounding periods for each of the following, (1) calculate the future value if $5,000 is deposited initially, and (2) determine the effective annual rate (EAR).
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