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Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next eight years, because the firm needs to plow back its earnings to fuel growth. The company will then pay a dividend of $16.50 per share 9 years from today and will increase the dividend by 5.75 percent per year thereafter. Required: If the required return on this stock is 13.75 percent, what is the current share price? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $3 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be wort..
Consider a 20-year, $105,000 mortgage with a 5.70 percent interest rate. After nine years, the borrower (the mortgage issuer) pays it off. How much will the lender receive?
Stanley has $2,400 that he is looking to invest. His brother approached him with an investment opportunity that could give Patrick $4,800 in 4 years. What interest rate would the investment have to yield in order for Stanley’s brother to deliver on h..
Abebi, who has just celebrated her 28th birthday, will retire on her 58th birthday, and she has just set up a retirement plan to pay her income starting on her retirement day, and to continue paying for 19 more years. Abebi's goal is to receive $110,..
In the percent-of-sales method
A client would like you to forecast the monthly car payments on a 4 year car loan in 6 years for a convertible that currently has a price of $82,000 (that is expected to rise with inflation) for his child who will be of driving age then. Given curren..
Compact fluorescent lamps (CFLs) have become more popular in recent years, but do they make financial sense? Suppose a typical 60-watt incandescent lightbulb costs $0.52 and lasts for 1,000 hours. A 15-watt CFL, which provides the same light, costs $..
Company Y does not plow back any earnings and is expected to produce a level dividend stream of $5.20 a share. If the current stock price is $40.20, what is the market capitalization rate?
Why did Microsoft decide in 2004 to double its cash dividend and buy back up to $30 billion of the company's stock over the next four years?
Verano Inc. has two business divisions a software product line and a waste water clean-up product line. The software business has a cost of equity capital of 10% and the waste water clean-up business has a cost of equity capital of 7%. Verano has 50%..
Find the amount to which $700 will grow under each of the following conditions. Round your answer to the nearest cent. 7% compounded annually for 5 years
Secondary Loan Company wants to purchase your mortgage from the local bank. The original loan amount was $200,000 for 30-years at an interest rate of 4%. The loan was made two (2) years ago. If Secondary Loan Company requires a 6% return, how much wo..
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