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When an executive uses company assets to underwrite personal loans, the agency problem occurs as the company takes on debts to provide its executives with higher incomes. In 2001, WorldCom CEO Bernard Ebbers took out over $400 million in loans from the company at the favorable interest rate of 2.15%. WorldCom did not report the amount on its executive compensation tables in its annual report. Details of the loans did not come out until the company's accounting scandal hit the news late that year. In your essay, explain what justified Mr Ebbers to take out the loans from his company? How this example was considered as a conflict of interests. Was the compensation scheme in the best interest of shareholders'? Explain the justification of board of directos to approve these loans to Mr Ebbers and other members. What are the CEOs and shareholders? What alternatives and solutions would you suggest to solve this ethical dilemma?
You want to buy a new sports coupe for $73,800, and the finance office at the dealership has quoted you a 6.2 percent APR loan for 60 months to buy the car. What will your monthly payments be? What is the effective annual rate on this loan?
What are the effects of coupon rate to the sensitivity of a bond price and to changes in interest rates?
working capital management eoq and external fundspart one working capital analysiscapers inc. has just promoted you to
What is the annual cost, before any tax considerations, of the lease option? Are there any tax considerations and if so, what is the after tax annual cost of the lease agreement? Explain your answer.
.Approximately what expected future long-run growth rate would provide the same EBITDA multiple in 2010 as Ideko has today (i.e., 9.1). Assume that the future debt-to-value ratio is held constant at 40%; the debt cost of capital is 6.8%; Ideko’s mark..
Kinky Copies may buy a high volume copier. The machine cost $100,000 and will be depreciated straight-line over five years to a salvage value of $20,000.
a company facing a tax rate of 45 has an equity beta of 1.35. the riskless rate is 5 and the expected market risk
If you were required to pay perpetuity after the tenth year out of the balance left in the pension fund, how much could you afford to pay?
Briefly explain how investors and analysts could use the information in note 1.
Good years are followed by equally bad years for a mutual fund. It earns +8%, -8%, +12%, -12% in successive years. What is the investor's overall return for the four years?
Describe SOX requirements
Dorchester Inc. has asked you to aid forecast exchange rates for the 3 potential countries you've selected for your proposal. First plot exchange rates from the past year and try to identify patterns that can be projected into the future.
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