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The Educated Horses Corporation needs to raise $60 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds. The SEC filing fee and associated administrative expenses of the offering are $900,000. If the offer price is $21 per share and the company’s underwriters charge a 9 percent spread, how many shares need to be sold?
a) 2,857,143 shares
b) 3,186,814 shares
c) 2,900,000 shares
d) 3,110,882 shares
e) 3,039,717 shares
You want to invest in a stock that pays $5 annually dividend for the next four years, you will sell the stock for $20. If you want to earn 12% on this investment, what is the price for this stock today?
Fullerton Company's bonds are currently selling for $1,200.00 per $1000 par-value bond. The bonds have a 10% coupon rate and will mature in 11 years. What is the yield to maturity? (assume semi-annual coupon payments).
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What should be the prices of the following preferred stocks if comparable securities yield 6.5%?
Raya Mutual Fund of Kuala Lumpur has RM5 million to invest in certificates of deposit (CDs) for the next six months (180 days). If the Mumbai Bank CD is purchased and held to maturity, determine the net gain (loss) in Malaysian ringgit relative to CI..
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The next dividend payment by ECY, Inc., will be $1.88 per share. The dividends are anticipated to maintain a growth rate of 4 percent, forever. ECY stock currently sells for $37 per share. What is the required return?
1.explain concept of financial intermediation. how does the possibility of financial intermediation increase the
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