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Assume that Bunch Inc. has an issue of 18-year $1, 000 par value bonds that pay 7% interest, annually. Further assume that today's required rate of return on these bonds is 5%. How much would these bonds sell for today?
The Smart company plans to borrow $750,000 for one year from Excellent Credit Resource Bank at an interest rate of 12% and they require a 20 percent compensating balance. What is the effective rate of interest? (use 360 day year)
The major source of long-term financing for U.S. industrial firms is:
Which of the following is not a reason some investors never purchase stock? Which of the following is not a reason some investors never purchase stock?
The Wei Corporation expects next year's net income to be $20 million. The firm's debt ratio is currently 40%. Wei has $14 million of profitable investment opportunities, and it wishes to maintain its existing debt ratio. According to the residual dis..
Texas Utilities pays a quarterly dividend of $0.77. Assume that the stock is trading at $35 per share, and that tomorrow is the ex-dividend date. Based on the past behavior of the firm’s shares on the ex-dividend date, you believe that the drop in th..
What is an annuity? How is it defined? What is the difference between an ordinary annuity and an annuity due?
Janine Welch inherited a house from her father. Her father’s basis in the house was $550,000, and the fair market value at the date of her father’s death was $875,000. Her father’s taxable estate was only $2.4 million, so the estate did not owe any f..
In 1903, the first Green Jacket Golf Championship was held. The winner’s prize money was $310. In 2015, the winner’s check was $1,670,000. What was the annual percentage increase in the winner’s check over this period?
You are evaluating a product for your company. You estimate the sales price of product to be $190 per unit and sales volume to be 10,900 units in year 1; 25,900 units in year 2; and 5,900 units in year 3. The project has a 3 year life. The tax rate i..
Purple Haze Machine Shop is considering a four-year project to improve its production efficiency.
Mercil Corporation is going to buy one of the following two machines. Each machine meets the specifications for a particular task in the company. Mercil's tax rate is 30 percent and its cost of capital is 15 percent. Annual depreciation is $5,000, an..
Rocky Ground Camping Supply Inc. has 200,000 shares of stock outstanding, each with a par value of $5 and a market value of $15. In addition, on the balance sheet there is additional paid in capital of $950,000 and retained earnings of $1,450,000. Su..
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