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Erin McQueen purchased 50 shares of BMW, a German stock traded on the Frankfurt Exchange, for 64.5 euros (€) per share exactly 1 year ago when the exchange rate was 0.67 €/US$. Today the stock is trading at 71.8 (€) per share, and the exchange rate is 0.75 €/US$.
a. Did the € depreciate or appreciate relative to the US$ during the past year? Explain.
Project K costs $25,000, its expected cash inflows are $5,000 per year for 8 years, and its WACC is 11%. What is the project's discounted payback?
All of the following statements concerning a Section 6166 instalment payment of estate taxes attributable to the inclusion of a closely held business in a decedent’s gross estate are correct EXCEPT: Under certain circumstances, the estate will forfei..
Compute the gross margin ratio and net profit margin ratio, compare the current ratio and acid-test ratio and compute the debt ratio and equity ratio.
Which of the following properties is not eligible for the §179 expense election when purchased? Jake purchased a $300,000 earthmover for his business. He sold the earthmover for $245,000 after taking $210,000 of depreciation. What is the nature and a..
Which of the following events is likely to increase the value of put options on the common stock of GCC Company? Futures contracts have less default risk because the exchange acts as the counterparty for all transactions. Forward contracts trade on a..
At year-end 2013, Wallace Landscaping total assets were $1.9 million and its accounts payable were $335,000. Sales, which in 2013 were $2.8 million, are expected to increase by 30% in 2014. Total assets and accounts payable are proportional to sales,..
There is a callable preferred stock at 110 par in 9 years, paying $4 annually and having a yield of 6%. Compute its price, if it is called. In case the issuing firm decides to not call it, what would its price be?
Oriole Industries has $10 million in outstanding bonds that are selling for 99 percent of par value. The bonds pay an annual coupon of 9 percent and mature in 10 years. What is Oriole Industries' pre-tax component cost of debt?
A pension fund manager is considering three mutual funds. The first is a stock fund, the second is a long-term government and corporate bond fund, and the third is a T-bill money market fund that yields a sure rate of 4.6%. The probability distributi..
The Pilson Company has an election coming. The company will be electing 5 persons to its board of directors. Pilson uses cumulative voting. There are 100,000 voting shares outstanding. A small group of shareholders has gotten together and discovered ..
Great Wall Pizzeria issued 8-year bonds one year ago at a coupon rate of 6.1 percent. If the YTM on these bonds is 7.5 percent, what is the current bond price?
Lakonishok Equipment has an investment opportunity in Europe. The project costs €12 million and is expected to produce cash flows of €1.8 million in Year 1, €2.6 million in Year 2, and €3.5 million in Year 3.
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