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Mikkleson Mining stock is selling for $40 per share and has an expected dividend in the coming year of $2.00, and has an expected constant growth rate of 5.00%. The company is considering issuing a 10-year convertible bond that would be priced at its $1,000 par value. The bonds would have an 8.00% annual coupon, and each bond could be converted into 20 shares of common stock. The required rate of return on an otherwise similar nonconvertible bond is 10.00%. What is the estimated floor price of the convertible at the end of Year 3?
Compute Macaulay and modified durations for the following bonds: a 5-year bond paying annual coupons of 3.322% and selling at par. an 8-year bond paying semi annual coupons with a coupon rate of 9% and a yield of 8%
You buy a share of The Ludwig Corporation stock for $23.80. You expect it to pay dividends of $1.10, $1.14, and $1.1815 in Years 1, 2, and 3, respectively, and you expect to sell it at a price of $30.95 at the end of 3 years. Calculate the expected d..
Suppose you want to estimate the cost of equity for a private company in the food industry that has similarities to Hormel Foods (HRL), Tyson Foods (TSN) and Conagra Foods (CAG). Using the adjusted Close price calculate 35 monthly returns for each co..
Dewey Cheatem deposited $25,000 into a savings account. This savings account pays 8% annual interest compounded semi-annually. Beginning a year from now and continuing in perpetuity, equal annual withdrawals are to be made. What is the maximum amount..
Describe Pareto efficiency and explain how markets can achieve Pareto efficiency. Is Pareto efficiency a normative or positive criterion?
How does a hedge fund differ from a traditional mutual fund? - What are the two types of hedge funds and how are their requirements for participation different?
ssume a tax rate of 6.2% on $110,100 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. - Complete the following payroll register
Future value: Larry James is planning to invest $25,000 today in a mutual fund that will provide a return of 0.09 each year. What will be the value of the investment in 10 years? Chuck Brown will receive from his investment cash flows of $3,135, $3,5..
A $150,000, 15-year, monthly payment mortgage loan carries an interest rate of 5.5%, plus three points. The points are financed. What is the lender’s expected annual yield if the loan is amortized over the full 15 years?
Suppose the dividends for the Seger Corporation over the past six years were $1.49, $1.57, $1.66, $1.74, $1.84, and $1.89, respectively. Compute the expected share price at the end of 2014 using the perpetual growth method. Assume the market risk pre..
You are considering a walk-in podiatry clinic. Your financial projections for the first year of operations are as follows Revenues (10,000 visits) $400,000 Wages and Benefits 220,000 Rent 5,000 Depreciation 30,000 Utilities 2,040 Medical Supplies 50,..
The capital budget of Serious Products Company is $1,000,000. The company wants to maintain a target capital structure that is 40% debt and 60% equity. The company forecasts that its net income this year will be $800,000. If the company follows a res..
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