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Gardial GreenLights, a manufacturer of energy efficient lighting solutions, has had such success with its new products that it is planning to substantially expand its manufacturing capacity with a $20 million investment in new machinery. Gardial plans to maintain its current 45% debt-to-total-assets ratio for its capital structure and to maintain its dividend policy in which at the end of each year it distributes 30% of the year's net income. This year's net income was $8 million. How much external equity must Gardial seek now to expand as planned? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answer to two decimal places. $ million
Which of the following are negative covenants that might be found in an indenture?
You’ve observed the following returns on Doyscher Corporation’s stock over the past five years: –28.8 percent, 16.2 percent, 35.4 percent, 3.6 percent, and 22.6 percent. The average inflation rate over this period was 3.36 percent and the average T-b..
As a consultant to GBH skiwear, you have been ask to compute the appropriate discount rate to use in the evaluation of the purchase of a new warehouse facility. What discount rate should you use to evaluate the warehouse project?
Discuss capital rationing and soft rationing and what are some of the important points to remember while estimating the cash flows of a project?
Suppose you are committed to owning a $195,000 Ferrari. If you believe your mutual fund can achieve a 13 percent annual rate of return and you want to buy the car in 10 years on the day you turn 30, how much must you invest today?
Earnhardt Driving School’s 2010 balance sheet showed net fixed assets of $4.7 million, and the 2011 balance sheet showed net fixed assets of $5.3 million. The company’s 2011 income statement showed a depreciation expense of $405,000. What was net cap..
In industries with volatile earnings, the residual dividend policy results in the most consistent dividend stream. If the clientele effect is correct, firms should follow a constant dividend payout ratio policy. In general, the higher the number of p..
When reviewing the financial statements of a company, there are many different ratios to choose from. Choose a ratio that looks at liquidity, solvency, and profitability and discuss its importance?
Use appropriate current Treasury bill data to determine a continuously compounded interest rate suitable to price June options. Note: You need to indicated your sources of data and document your procedure.
Suppose you will need $50,000 in 4 years to start up a new business you have planned. With a 5% real interest rate, how much do you have to invest now in order to achieve this goal? Repeat Problem #3, but assume you can contribute an equal amount on ..
A machine was purchased 5 years ago at the cost of $25000. It can be sold now for $6000. If the machine is kept for 5 more years, it is anticipated that the machine can be sold for $1000. a.) At a cost of capital of 12%, what is the present value of ..
Suppose that the Board of Directors pays the CEO a bonus in any year that the share price goes up compared to the previous year, but no bonus if the share price either falls or stays the same. What would this particular type of compensation scheme be..
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