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Broussard Skateboard's sales are expected to increase by 15% from $8.2 million in 2013 to $9.43 million in 2014. Its assets totaled $3 million at the end of 2013. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2013, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 6%, and the forecasted payout ratio is 75%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Round your answer to the nearest dollar. Do not round intermediate calculations.
Suppose you borrowed $15,000 at a rate of 8.5% and must repay it in 5 equal instalments at the end of each of the next 5 years. How much would you still owe at the end of the first year, after you have made the first payment?
Your landscaping company can lease a truck for $8,900 a year for 6 years. It can instead buy the truck for $45,000. The truck will be valueless after 6 years. What is the present value of the lease payments if the opportunity cost of capital is 7%? I..
Phillips Industries runs a small manufacturing operation. For this fiscal year, it expects real net cash flows of $201,000. Phillips is an ongoing operation, but it expects competitive pressures to erode its real net cash flows at 4 percent per year ..
Large- Cap stocks had the nominal rates of return of 13.20 percent. The rate of inflation during the last year was 4.07 percent. What is the real rate of return of large-cap stocks?
After reading this chapter, it isn't surprising that you're becoming an invest- ment wizard. With your newfound expertise, you purchase 100 shares of KSU Corporation for $37 per share. What would be your total return on your KSU Corporation investme..
A small business owner visits his bank to ask for a loan. The owner states that he can repay a loan at $3,500 per month for the next three years and then $2,500 per month for two years after that. If the bank is charging customers 11.00 percent APR, ..
You are the CFO of a small startup company. You have just completed a six-month cash flow forecast and determined that the company will incur a one month negative cash flow two months from now. What specific policy actions can you undertake with your..
Your child's orthodontist offers you two alternative payment plans. The first plan requires a dollar4.500.00 immediate up-front payment. The second plan requires you to make monthly payments of dollar152.48. payable at the end of each month for 3 yea..
It has been argued that shareholder wealth maximization is not a realistic normative goal for the firm, given the social responsibility activities that the firm is “expected” to engage in (such as contributing to the arts, education, etc.). Explain w..
Risk is an important concept affecting security prices and rates of return. Risk is the chance that some unfavorable event will occur, and there is a trade-off between risk and return. The higher an investment’s risk, the equivalent Item 1 the return..
What is the required rate of return on a preferred stock with a $50 par value, a stated dividend of 9% of par, and a current market price of (a) $66, (b) $86, (c) $115, and (d) $137 (assume the market is in equilibrium with the required return equal ..
FITCO Inc. is a Pharmaceutical company which is considering investing in a new equipment for the production of pain-reliever machine for individuals who suffer from cardio vascular diseases. Calculate the initial outlay of the project. Calculate the ..
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