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You are the CEO of L'Malle LLC, a nonpublic company that builds and manages shopping malls. L'Malle plans to raise $4,400,000 for construction of L'Malle's newest shopping center complex, Grande L'Malle Geneva. In an effort to avoid the application of the Securities Act of 1933, L'Malle's CFO has proposed that L'Malle issue 22 Profit Participation Plans (PPPs) to two insurance companies, four mutual funds, and 16 individual investors. Under the PPPs, each owner will contribute $200,000 cash to finance the construction of Grande L'Malle Geneva (GLG) and receive 3 percent of the profits generated by GLG. L'Malle will be the exclusive manager of GLG, making all decisions regarding its construction and operation, for which L'Malle will receive a fee equal to 34 percent of GLG's profits.
Are the PPPs securities under the Securities Act of 1933?
A firm has total assets of $1,920,000. It has $828,000 in long-term debt. The stockholders equity is $628,000. What is the debt to total asset ratio?
A STRIPS traded on May 1 2013, matures in 18 years on May 1 2031. Assuming a 6.1 percent yield to maturity, what is the STRIPS price?
To pay off $50,000,000 worth of new construction bonds when they come due in 18 years, a water municipality must deposit money into a sinking fund. Payments to the fund will be made quarterly, starting three months from now. If the interest rate for ..
A 10-year annual payment corporate bond has a market price of $1058. It pays annual interest of $60 and its required rate of return is 4 percent. By how much is the bond mispriced?
The stock is expected to pay dividend of $3.0 and currently is selling at $30. What is its expected dividend yield? If the dividend is expected to grow at constant rate of 5%, what is its total return?
Individuals who own homes may take a tax deduction for interest paid. Many individuals believe that this tax law discriminates against individuals who rent. Do you think this deduction is discriminatory? Explain and share your thoughts.
RBC requirements may induce bank managers to change their asset composition. Explain why. Determine how a shift from any of the following should affect a bank's required capital. How will each shift affect the bank's profit potential?
Suppose that the risk free rate is 4 percent and the market rate of return is 12 percent. For a health care firm with a market beta of 1.3, what is the expected return on its publicly traded stock?
Calculate the net present value (NPV) for the following twenty-year projects. Comment on the acceptability of each. Assume that the firm has an opportunity cost of 14%.
Clarion Products raises trees, cuts the trees into logs, and processes the logs into paper. Clarion Products sells the paper to a distributor, who then sells the paper to printers. Compute the profits of each stage of the value chain. Show amounts in..
What will the holder receive when the bond matures? If the current rate of interest on a comparable debt is 8 percent, what should be the price of this bond? Would you expect the firm to call this bond Why?
In 2014 Cost of goods sold 5,920.00, addition retained earnings 587.50 Net income 1137.50 interest 270.00 Depreciation 1100.00 selling and general expenses 1440.00, Tax rate 35%. What is the amount of dividends paid in 2014?
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