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In the year 2000, the Congressional Budget Office offered the following estimates regarding Medicare (the U.S. government program that pays for part of the health costs of individuals who are permanently disabled or over 65 years old):• Medicare would begin partial coverage for prescription drugs in 2003 • In 2003, the total cost of prescription drugs for those on Medicare would be $48 billion• The cost of prescription drugs was projected to rise at 12% a year• Medicare would pay $400 billion over the 10-year period from 2003-2012 for the prescription drug benefitb. What fraction of the total prescription drug cost over the 10 years would be covered by the new $400 billion prescription drug benefit?c. Assuming the fraction of the total, found it part (b), would be constant over each of the10 years, how much would have been paid by Medicare on drugs in 2003? d. Is your answer to part (c) a lot of money? Provide a brief explanation as to why it may be considered a lot of money, and a brief explanation as to why it may NOT be viewed as a lot of money.
Electronics Unlimited has the following capital structure: 60 percent stock, 10 % preferred stock, and 30% in debt. The after-tax cost of debt is 8 percent, the cost of preferred stock is 10 percent, and the cost of common stock is 12 percent.
Stephens Security has two financing alternatives: (1) A publicly placed $50 million bond issue. Which alternative has the lower cost (annual percentage yield)?
You want to bank enough money to pay for 4 years of college at $20,000 per year for your child. The savings account will pay an effective rate of 5% per year.
What is included in other comprehensive income? Why are items included in other comprehensive income, but not included in net income? Should these items be included in net income, or not included at all?
Calculation of net present Value of Maple Media is considering a proposal to enter a new line of business
Describe EBIT and discuss why optimal level of leverage from a tax-saving perspective is the level at which interest equals EBIT.
The Griffey Lang Food Corporation faces a difficult problem. In management's effort to grow the business, they accrued a debt of $150 million while the value of the company is only $125 million.
Shock Electronics sells portable heaters for $25 each unit, and the variable cost to produce them is $17. Mr. Amps estimates that the fixed expenses are $96,000.
Joe runs a little parts shop. His hourly labor price to customers is $40 every hour and his hourly material value works out to about 25 percent of the hourly labor price.
Assume Timex has nonmaturing preferred stock outstanding that pays a $1.00 quarterly dividend and has a required return of 8 percent APR.
You wish to retire a $10,000,000 bond that can be called in 5 years for 110 percent of par value, or $11,000,000.
Furriers purchased 1000 shares of Loose Corporation stock on January 10, 2005, for $800 per share and classified the investment as securities Available for Sale.
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