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Rawlings needs to raise $38,800,000 for its new manufacturing plant in Jamaica. Berkman Investment Bank will sell the bond for a commission of 2.3%. The market yield is currently 7.7% on twenty-year zero-coupon bonds. If rawlings wants to issue a zero-coupon bond, how many bonds will it need to sell to raise the $38,800,000? Assume that the bond is semiannual and issued at par value of $1,000.
How many bonds will Rawlings need to sell to raise the $38,800,000?
Rose Resources faces a smooth annual demand for cash of $10.1 million; incurs transaction costs of $330 every time they sell marketable securities, and can earn 4.0 percent on their marketable securities. What will be their optimal cash replenishment..
Define the current ratio and return on assets ratio. State what financial management problem each of these financial ratios could be used to identify. What would be a good benchmark to use for each of these financial ratios?
A manufacturer purchased 12,000 worth of equipment with a life of 10 years. Assuming 9% interest, the equivalent uniform annual cost of the equipment is?
Rust Pipe Co. was established in 1994. Four years later, the company went public. At that time, Robert Rust, the original owner, decided to establish two classes of stock. The first represents Class A founders' stock and is entitled to eleven votes p..
Consider a four-month European put option on a non-dividend-paying stock when price is $55, the strike price is $60, and the risk-free interest rate is 12% per annume? What is the lower bound for the price of this European put option. you check the m..
Duration of the need, Concern about the financial viability of the current insurer, Capacity of the policyholder to fund premiums, Cost of the premium compared to alternatives
A bank in Venezuela borrows $5 million in U.S. dollars, promising to repay the loan plus 6% interest at the end of the year. The currency in Venezuela is the “bolivar.” What about if the exchange rate starts at 1600 bolivars to the dollar but rises t..
use the model developed in the excel spreadsheet to answer the following questions1. what is the efn to achieve the
Stocks A and B in a portfolio earn annual returns of 12% and 15%, respectively. If an investor invests 70% of his money in Stock A and 30% in Stock B, what is the expected annual return of the investor’s portfolio? Most stocks have betas in the range..
Are dividends relevant in determining share values? Identify one factor that indicates they are, and one that indicates they are not. Give your opinion on this question and why you hold it. Select one of the following theories and provide an argument..
Jan sold her house on December 31 and took a $35,000 mortgage as part of the payment. How much interest was included in the first payment?
Tinker Spy Corp. has a high-yield junk bond with the following features: Principal $1,500 Coupon 0% for years 1 through 5 and 9% for years 6 through 10 Maturity 10 years The current interest rate on comparable debt is 9 percent. If you expect that th..
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