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The 2015 income statement for Duffy’s Pest Control shows that depreciation expense was $201 million, EBIT was $512 million, and the tax rate was 30 percent. At the beginning of the year, the balance of gross fixed assets was $1,582 million and net operating working capital was $421 million. At the end of the year, gross fixed assets were $1,833 million. Duffy’s free cash flow for the year was $425 million.
Calculate the end-of-year balance for net operating working capital. (Enter your answer in millions of dollars rounded to 1 decimal place.)
An investment pays $500 per year for the first 4 years, $400 per year for the next 3 years, and $700 per year the following 8 years (all payments are at the end of each year). If the discount rate is 10.00% compounding quarterly, what is the fair pri..
A company has 2 million shares outstanding. It paid a dividend of $2 during the past year, and expects that dividends will grow at 6 percent annually in the future. Stockholders require a rate of return of 13 percent. What would you expect the price ..
On July 4, 2012, you convert $500,000 U.S. dollars to Japanese yen in the spot foreign exchange market and purchase a 1-month forward contract to convert yen into dollars. How much will you receive in U.S. dollars at the end of the month? (use foreig..
SportsMart sells 500,000 baseballs annually. The baseballs cost SportsMart $24 per dozen ($2.00 each). Annual inventory carrying costs are 25% of inventory value and the cost of placing and receiving an order are $78. Determine the: Economic Order Qu..
In 2012, the total payroll for the New york Yankees was almost 200million, while the total payroll for the Oakland Athletics (a team known for using basball analytics or sabermetrics) was about 55million, less than one-third of the Yankees payroll. d..
Identify and discuss two reinburstment methods that the organization may utilize, and explain what risks those methods may or may not bring to the organization.
An investor purchases a 1000 bond redeemable at par that pays semiannual coupons at a nominal rate of 8% compounded semiannually and matures in ten years. The bond will yield an annual rate of 7% convertible semiannually to maturity. If the bond is c..
Springfield Nuclear Energy Inc. bonds are currently trading at $1,639.76. The bonds have a face value of $1,000, a coupon rate of 10.5% with coupons paid annually, and they mature in 10 years. What is the yield to maturity of the bonds?
Dupuis can borrow at 12.00 percent. Dupuis currently has no debt, and the cost of equity is 15 percent. The current value of the firm is $676,000. The corporate tax rate is 38 percent. What will the value be if Dupuis borrows $227,000 and uses the pr..
Explore the capital budgeting techniques covered in the unit, NPV, PI, IRR, and Payback. Compare and contrast each of the techniques with an emphasis on comparative strengths and weaknesses.
Pumpkin Pie Industries has 5 million shares of common stock outstanding, 1 million shares of preferred stock outstanding, and 10 thousand bonds. If the common shares are selling for $50 per share, the preferred shares are selling for $31 per share, a..
The current price of a stock is $50, the annual risk-free rate is 6%, and a 1-year call option with a strike price of $55 sells for $7.20. What is the value of a put option, assuming the same strike price and expiration date as for the call option?
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