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Cyberco Corporation has 5 million shares of stock outstanding. Cyberco's after-tax profits are $15 million and the corporation's stock is selling at a price-earnings multiple of 10, for a stock price of $30 per share. Cyberco management issues a 25% stock dividend. a. Calculate Cyberco's earnings per share before and after the stock dividend. b. Suppose an investor owns 100 shares of Cyberco before the stock dividend. Use the price earnings multiple to estimate the value of the investor's holdings both before and after the dividend. c. Comment on the results of the stock dividend for current shareholders.
Development of a code of ethics should involve all of the following EXCEPT
In what ways is the estimated net present value of this project more uncertain than that of a similar project in a more developed European country?
Kuhn Company is considering a new project that will require an initial investment of $4 million. It has a target capital structure of 58% debt, 6% preferred stock and 36% common equity. Flotation costs will represent 8% of the funds raised by issuing..
A 6-month European put option with a strike price of $120 is selling for $10. The continuous compounded risk free rate of interest is 12% per annum. What is the maximum profit that can be made on a written put?
GBK, Inc. has sales of 10,552; total assets of 6210; and a debt-equity ratio of 1.40. If its return on equity is 15%, what is its net income? What is the sustainable growth rate for Your Firm, Inc.?
Essary Enterprises has bonds on the market making annual payments, with seven years to maturity, a par value of $1,000, and selling for $950. At this price, the bonds yield 6 percent. What must the coupon rate be on the bonds?
Rocking Motors Inc manufactures motorized wheel chairs. The average selling price for the various units is $500. The associated costs is $300 per unit. Fixed costs for the firm average $180,000 annually. Company has $1,000,000 debt paying 12% interes..
8 years ago you started making annual deposits of $365 into an account paying 8% annual return. You continue to make these deposits every year without fail. If you keep doing this every year for the next 7 years, how much money will you have in 7 yea..
You have $14,600 on deposit with no outstanding checks or uncleared deposits. Assume you deposit a check for $6,200. Does this create a disbursement float or a collection float? What is your available balance? What is your book balance?
The City of Sinasonville operated a motor pool fund as an internal service fund. A loan of $500,000 was made from an enterprise fund, to be repaid over 10 years with no interest. Capital assets were purchased as follows: A budget is prepared to break..
Navel County Choppers Inc. is experiencing rapid growth. The company expects dividends to grow at 20 percent per year for the next 10 years before leveling off at 5 percent into perpetuity. The required return on the company’s stock is 11 percent. If..
A bond for Firebird, Inc. has a coupon rate of 7% and face value of K1000, 000. The yield to maturity is 6.8%. The bond has a remaining life of 30 years and makes annual coupon payments? What is this bond's current market value?
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