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During 2014, Raines Umbrella Corp. had sales of $860,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $680,000, $85,000, and $180,000, respectively. In addition, the company had an interest expense of $55,000 and a tax rate of 35 percent. (Ignore any tax loss carry back or carry forward provisions.)
Suppose Raines Umbrella Corp. paid out $65,000 in cash dividends. Is this possible? If spending on net fixed assets and net working capital was zero, and if no new stock was issued during the year, what is the net new long-term debt?
Cochrane, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of $2,490,000. The fixed asset will be depreciated straight-line to zero over its three-year tax life. What are the net cash flows of th..
At current prices and a 13% cost of capital, a project's NPV is $100,000. By what minimum amount must the initial cost of the project decrease (revenues will be unchanged) before you would wait 2 years to invest?
We buy a put option of Stefanic and associates. Its premium is $1 and the strike price is $34. The current market price is $40. If the price drops to $20, shall we exercise the put option? If not, why not , and If yes, why yes? Compare the two cases ..
Six-month T-bills have a nominal rate of 4%, while default-free Japanese bonds that mature in 6 months have a nominal rate of 2%. In the spot exchange market, 1 yen equals $0.005. If interest rate parity holds, what is the 6-month forward exchange ra..
Preparing monthly forecasts of Fantastic's financial statements and monthly cash budgets for 1981 and 1982
You owe $10,000 to a credit card company. Your credit card debt is 127 days overdue after the grace period. The interest rate is 19%. How much do you need to pay off this debt?
Which of the following is considered a hybrid organizational form?
Suppose you believe that Johnson Company's stock price is going to increase from its current level of $22.50 sometime during the next 5 months. For $310.25 you can buy a 5-month call option giving you the right to buy 100 shares at a price of $25 per..
Assume a municipal bond has 18 years until maturity and sells for $5.640 It has a coupon rate of 5.70 percent and it can be called in 10 years. What is the yield to call if the call price is 110 percent of par?
Thomson engineering is issuing new 10 year bonds that have 20 warrants attached. If not for the attached warrants the bonds would carry a 9% interest rate. However with the warrents attached the bonds will pay a 7 % annaual coupon and still sell f..
When comparing common stock of the same company it is fair to say that all shares, no matter how many classes, are all created with the same equal rights. companies sometimes have two different classes of shares with unequal rights to dividends an..
Bradford Manufacturing Company has a beta of 1.9, while Farley Industries has a beta of 0.75. The required return on an index fund that holds the entire stock market is 8.5%. The risk-free rate of interest is 6.75%. By how much does Bradford's requir..
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