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Michael and Dianne Shankle divorced. An Arkansas state court ordered Michael to pay Dianne alimony and child support, as well as half of the $184,000 in their investment accounts. Instead, Michael withdrew more than half of the investment funds and spent them. Over the next several years, the court repeatedly held Michael in contempt for failing to pay Dianne. Six years late, Michael filed for the Chapter 7 bankruptcy, including the petitions schedule the debt to Dianne of unpaid alimony, child support, and investment funds. Is Michael entitled to a discharge of this debt, or does it qualify as an exception? Explain.
Midwest Packaging's ROE last year was only 6%; but its management has developed a new operating plan that calls for a debt-to-assets ratio of 40%, which will result in annual interest charges of $517,000. Under these conditions, the tax rate will be ..
Della's Pool Halls has 12,000 shares of stock outstanding with a par value of $1 per share and a market price of $39 a share. The firm just announced a 4-for-3 stock split. How many shares of stock will be outstanding after the split?
A European call option allows one to purchase 2 shares of stock B with 1 share of stock A at the end of a year. A European put option which allows one to sell 2 shares of stock B for 1 share of stock A costs 11.5. Determine the premium of the Europea..
What is the difference between the expected rate of return and the required rate of return? What does it mean if they are different for a particular asset at a particular point in time?
The Wildwood Widget Company needs a milling machine for its new assembly line. The machine presently costs $85,000, but has a cost inflation rate of 2%. Widget will not need to purchase the machine for 3 years. If the general inflation is expected to..
Kiki owns 15% of Dexters corporation. What tax bearing does Kiki derive from this situation?
You have chosen biology as your college major because you would like to be a medical doctor. However, you find that the probability of being accepted into medical school is about 10 percent. Without considering the additional educational years or the..
“An inverted yield curve is a good predictor of US recessions”. Discuss the validity of this statement and explain in detail your reasoning. Discuss bonds as investments. Corporations prefer bonds over preferred stock for financing their operations ..
Valuation - corporate bond a $1,000 corporate bond with 20 years to maturity pays a coupon of 7% (semi-annual) and the market required rate of return is a) 6.6% b) 13%. What is the current selling price for a) and b)?
It is July and a trader buys 100 December call options with a strike price of $26. The stock price is $26.51 and the option price is $4.12. At the expiration, the stock price becomes $30.22. Calculate the option profit to the trader. Please show your..
You are now 25 years old and have just been sold an insurance policy with $10,000 protection on your life. The cost is $170 per year. If you live to age 65, the insurance company will pay you $20,000. Assuming you live to age 65, what portion of the ..
What is the importance of optimal capital structure? Should a company base its optimal capital structure on the book value, market values or target values? What is recommended for Nike's optimal capital structure and why?
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