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Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $50,000 for the current period. Assuming an ordinary tax rate of %35, compute the firm's earnings after taxes and earnings available for common stockholders (earnings after taxes and preferred stock dividends, if any) under the following conditions:
a. The firm pays $12,000 in interest.
b. The firm pays $12,000 in preferred stock dividends.
Which of the following statements is FALSE regarding the beta coefficient?
Belton is issuing a $1,000 par value bond that pays 11 percent annual interest and matures in 15 years. Investors are willing to pay $ 940 for the bond. Flotation be 12 percent of market value. The company is in an 25 percent tax bracket. What will b..
Suppose that MNINK Industries’ capital structure features 63 percent equity, 7 percent preferred stock, and 30 percent debt. Assume the before-tax component costs of equity, preferred stock, and debt are 11.60 percent, 9.50 percent, and 9.00 percent,..
Evaluate the financial statements and the financial position of health care institutions.
We are evaluating a project that costs $744,000, has a six-year life, and has no salvage value. Assume that depreciation is straight-line to zero over the life of the project. Sales are projected at 45,000 units per year. Price per unit is $60, varia..
In the hope of high returns, venture capitalists provide funds to finance new companies. However, potential competitors and structures of the market into which the new firm enters are extremely important in realization of profits.
Tyler Trucks stock has an annual return mean and standard deviation of 12 percent and 35 percent, respectively. Michael Moped Manufacturing stock has an annual return mean and standard deviation of 10.8 percent and 53 percent, respectively. What is t..
On March 1 the price of oil is $52 and the July futures price is $51. On June 1 the price of oil is $60 and the July futures price is $58. A company entered into a futures contract on March 1 to hedge the purchase of oil on June 1. It closed out its ..
As a benefits manager, how might the potential demise of Social Security affect the decisions you make regarding other benefits that you have the option of providing to your employees? How might it affect your company's human resource planning proces..
In February 2015, Radio Shack filed for bankruptcy protection under Chapter 11 of the Bankruptcy Act. Why did the company file under Chapter 11 instead of Chapter 7? Are all Radio Shack stores included in the bankruptcy? How does the company plan to ..
Suppose that you borrow $1000 and the loan is to be repaid in three equal, end of year payments (an ordinary annuity). The interest rate on the loan is 6%. How much is your annual payment?
A Treasury bill with 113 days to maturity is quoted at 98.630. What is the bank discount yield, the bond equivalent yield, and the effective annual return?
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