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What is collateral on a loan that remains in the possession of the borrower and not the bank?
a. possessory collateral
b. nonpossessory collateral
c. secured position
d. lien
You have been hired as a consultant for Pristine Urban-Tech Zither, Inc. (PUTZ), manufacturers of fine zithers. The market for zithers is growing quickly. PUTZ has a 40 percent tax rate, and the required return on the project is 12 percent. Assume th..
The trick here is just to calculate the price as the present value of future cash flows, just like in Chapter 6. Notice that the coupon payments) don't start immediately for one bond. You must adjust the present value equation for an annuity to refle..
The Newport Beach Sanitary Agency is presently shipping its waste to another municipality at an annual cost of $100,000. It is considering building a landfill near the city. Show how to calculate the present value of this project. Explain why the IRR..
Several stock valuation models were described in the chapter, including zero-growth, constant growth, variable growth, free cash flow, book value, and P/E multiple models. Which of these do you believe would generate the most accurate value estimates..
Landmark Coal operates a mine. During July, the company obtained 500 tons of ore, which yielded 250 pounds of gold and 63,700 pounds of copper. The joint cost related to the operation was $500,000. Gold sells for $325 per ounce and copper sells for $..
You need to save $50,000 in 10 years from today. You want to make annual payments at the end of each year into a sinking fund that will earn interest at an annual rate of 10 percent. What will the annual payments have to be? Suppose that the borrower..
Calculate the one-, three-, and six-month forward premium or discount for the Japanese yen versus the U.S. dollar using the following American term quotations. For simplicity, assume each month has 30 days. What is the interpretation of your results?
The Electrotech Corporation manufactures two industrial-sized electrical devices: generators and alternators. Both of these products require wiring and testing during the assembly process. Each generator requires 2 hours of wiring and 1 hour of testi..
A firm has total assets of $162,000, long-term debt of $46,000, stockholders' equity of $95,000, and current liabilities of $21,000. The dividend payout ratio is 60 percent and the profit margin is 8 percent. Assume all assets and current liabilities..
The Bell Weather Co. is a new firm in a rapidly growing industry. The company is planning on increasing its annual dividend by 18 percent a year for the next 4 years and then decreasing the growth rate to 6 percent per year. The company just paid its..
Logitech stock is currently selling for $30 per share. The next expected annual dividend is $3 at the end of this year and the dividend growth rate is 6% per year. What is the stock price at the start of year 4 (end of yr 3)?
A firm has an issue of $1,000 par value bonds with a 9 percent stated interest rate outstanding. The issue pays interest annually and has 20 years remaining to its maturity date. If the bonds of similar risk are currently earning 11 percent, the firm..
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