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Rowan Company has a net profit margin of 8.3 percent, debt ratio of 50 percent, total assets of $5,087,200, sales of $6,738,600, and a dividend payout ratio of 65 percent. The firm’s management desires a sustainable growth rate (SGR) of 12 percent but does not wish to change the company’s level of debt or its payout ratio. What will the firm’s new net profit margin have to be in order to achieve the desired growth rate? (Round intermediate calculation to 2 decimal places, e.g. 5.25 and final answer to 1 decimal place, e.g. 17.5%.) Net profit margin =____________%
A discount factor:
Suppose that Ken-Z Art Gallery has annual sales of $894,000, cost of goods sold of $584,000, average inventories of $170,000, average accounts receivable of $139,000, and an average accounts payable balance of $64,000. Assuming that all of Ken-Z’s sa..
Your company is considering a new project that will require $985,000 of new equipment at the start of the project. The equipment will have a depreciable life of 9 years and will be depreciated to a book value of $157,000 using straight-line depreciat..
Mr. Smith has saved $1,800 each year for 20 years. A year after the saving period ended, Mr. Smith withdrew $7,500 each year for a period of 5 years. In the sixth and seventh years, he only withdrew $5,000 per year. In the eighth year, he decided to ..
A major purpose of the prospectus is to: When underwriters issue securities on a best efforts basis, they: Stock underwriters are: Which one of the following best describes an initial public offering?
You have decided to invest 30 percent in X; 30 percent in Y; and 40 percent in Z. The probability of the state of the economy is Boom 20%; Normal 55%; and, Bust 25%. The rate of return for stock X is Boom .15; Normal .10; and, Bust .00. What is the p..
Western Carolina Coal Co. expects to produce 125,000 tons of coal annually for 15 years. The deposit cost $2M to acquire; the annual gross revenues are expected to be $9.50 per ton, and the net revenues are expected to be $4.25 per ton. Compute the a..
You are trying to estimate the cost of capital for Miami Corp and had collected the following information: Ø The firm has debt with a book value of 20 million, trading at 120% of par bond. Estimate the market value of the debt. Estimate the market va..
A borrower has secured a 30 year, $150,000 fully amortizing fixed rate loan at 7% with monthly payments. Fifteen years later, an investor wants to purchase the loan from the lender. If market interest rates are 5%, what would the investor be willing ..
Stock Y has a beta of 1.0 and an expected return of 13.5 percent. Stock Z has a beta of .6 and an expected return of 9 percent. What would the risk-free rate have to be for the two stocks to be correctly priced?
Today, the stock price of VALE S.A. (based in Brazil) is priced at BRL 13 per share. The spot rate of the Brazilian Real (BRL) is $.25. During the next year, you expect that the stock price of Vale to Increase by 10%. You also expect that the BRL wil..
If interest rates rise, the current value of the bond will rise. If interest rates fall, the face amount of a bond will remain the same. An investor may anticipate that a callable bond may be called If interest rates have fallen.
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