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Big Manufacturer, Inc.’s perpetual preferred stock has an annual dividend of $7.50 per share and is selling in the market for $85.00 per share. If your required return on this preferred stock is 9.0%, what is the intrinsic value of this preferred stock?
Note: Enter your answer rounded off to the nearest cent. Do not enter $ or comma in the answer box. For example, if your answer is $12,300.456 then enter as 12300.46 in the answer box.
Jonah’s Fishery has EBITDA of $67 million. Jonah’s market value of equity and debt is $433 million and $40 million, respectively. Jonah has cash on the balance sheet of $16 million. What is Jonah’s EV ratio?
Fissler AG, headquartered in Germany, records all of it sales worldwide in euros. Its USA division realized sales of €2,675,000 last year when the exchange rate was $1.33/€ and sales of €2,355,000 this year when the exchange rate was $1.48/€. What wa..
Which of the following would most likely increase the accounting return to shareholders?
Acme Services’ CFO is considering whether to take on a new project that has average risk. She has collected the following information: • The company has outstanding bonds that mature in 26 years. The bonds have a face value of $1,000, an annual coupo..
Should we base our decisions on which opportunities to pursue solely based on quantitative evaluation methods like NPV, IRR, MIRR, Payback, Real Options and others? Support your view.
Fixed stock repurchases allow managers to repurchase shares only when they feel those shares are undervalued. Since the early 1980s, it has become increasingly more difficult to do a stock repurchase due to SEC regulations. Stock repurchases send the..
A financial company that advertises on television will pay you $61,000 now for annual payments of $9,400 that you are expected to receive for a legal settlement over the next 11 years. Assume you estimate the time value of money at 12 percent.
CSM Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $496,000 is estimated to result in $195,000 in annual pretax cost savings. The press falls in the MACRS five-year class (MACRS Ta..
The stock of Uptown Men's Wear is expected to produce the following returns given the various states of the economy. What is the expected return on this stock? Probabilities: Recession:0.4 Normal:0.4 Boom:0.2 Returns: Recession:-11% Normal:12% Boom:2..
A portfolio is comprised of three index funds: an equity index comprising 40% of the total portfolio, a bond index comprising 30% of the total portfolio and an international index comprising 30% of the total portfolio. After each quarter the portfoli..
Modern Federal Bank is setting up a brand new branch. The cost of the project will be $1.2 million. The branch will create additional cash flows of $235,000; $412,300; $665,000, and $875,000 in years 1-4 respectively. The firm’s cost of capital is 12..
Bond J has a coupon rate of 4.3 percent. Bond S has a coupon rate of 14.3 percent. Both bonds have eleven years to maturity, make semi annual payments, and have a YTM of 9.6 percent. If interest rates suddenly rise by 3 percent, what is the percentag..
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