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Frick Co. has outstanding a 7%, ten-year $100,000 face-value bond. The bond was originally sold to yield 6% annual interest. Frick uses the effective interest rate method to amortize bond premium, and does not elect the fair value option for reporting financial liabilities. On June 30, year 1, the carrying amount of the outstanding bond was $105,000. What amount of unamortized premium on bond should Frick report in its June 30, year 2 balance sheet?
The date of death for a widow was 2012. If the estate was valued at $7,100,000 and the estate was taxed at 35 percent. What was the heir’s tax liability? (Round your answer to the nearest dollar amount)
Calculate the exercise value of the firm's warrants if the common sells at each of the following prices: Assume the firm's stock now sells for $20 per share. The company wants to sell some 20-year, $1,000 par value bonds with interest paid annually. ..
Pearce’s has a long-term debt ratio of .45 and a current ratio of 1.25. Current liabilities are $875, sales are $5,780, profit margin is 9.5%, and ROE is 18.5%. What is the amount of net fixed assets?
Bond Pricing. A General Power bond carries a coupon rate of 8%, has 9 years until maturity, and sells at a yield to maturity of 7%. (Assume annual interest payments.) (LO6-1 and LO6-2) a. What interest payments do bondholders receive each year? b. At..
Consider the following cash flows: Year Cash Flow 0 −$31,000 1 17,300 2 15,200 3 10,600 Requirement 1: What is the profitability index for the above set of cash flows if the relevant discount rate is 10 percent? (Do not round intermediate calculation..
Morning Star Inc. sold an issue of 30-year, $1,000 par value bonds to the public. The bonds has a 14.6% coupon rate and pays interest annually. It is now 7 years later. The current market rate of interest of the Morning Star INc. bonds is 11.7%. What..
You have $110,000 to invest in a portfolio containing Stock X and Stock Y. Your goal is to create a portfolio that has an expected return of 15 percent. Stock X has an expected return of 13.2 percent and a beta of 1.16, and Stock Y has an expected re..
Primrose Corp has $16 million of sales, $1 million of inventories, $2 million of receivables, and $2 million of payables. Its cost of goods sold is 75% of sales, and it finances working capital with bank loans at an 7% rate. How much cash would be fr..
Loan Payments You wish to buy a $25,000 car. The dealer offers you a 4-year loan with a 9 percent APR. What are the monthly payments? How would the payment differ if you paid interest only? What would the consequences of such a decision be?
You are evaluating two different cookie-baking ovens. The Pillsbury 707 costs $61,000, has a 5-year life, and has an annual OCF (after tax) of –$10,800 per year. The Keebler CookieMunster costs $94,000, has a 7-year life, and has an annual OCF (after..
Revise the following sentences to emphasize the perspective of the audience and the “you” view. To help us avoid fraudulent transactions and suffer potential losses, we encourage our customers to frequently review their accounts and immediately repor..
You wish to know how well a company is managing its accounts receivable and inventory. You will be looking at:
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