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Jiminy's Cricket Farm issued a 30-year, 7.4 percent semiannual bond 8 years ago. The bond currently sells for 91 percent of its face value. The book value of this debt issue is $96 million. In addition, the company has a second debt issue, a zero coupon bond with 11 years left to maturity; the book value of this issue is $66 million, and it sells for 55.5 percent of par. The company’s tax rate is 34 percent. Required What is the total book value of debt? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars (e.g., 1,234,567).) Total book value of debt $ 162000000 What is the total market value of debt? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars (e.g., 1,234,567).) Total market value $ 123990000 What is the aftertax cost of the 7.4 percent coupon bond? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).) Aftertax cost of debt % What is the aftertax cost of the zero coupon bond? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).) Aftertax cost of debt % What is the aftertax cost of debt? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).) Aftertax cost of debt %
A project has an initial cost of $40,000, expected net cash inflows of $9,000 per year for 7 years, and a cost of capital 11%. What is the project's discounted payback period?
Bui Corp. pays a constant $14.50 dividend on its stock. The company will maintain this dividend for the next eight years and will then cease paying dividends forever. Required: If the required return on this stock is 10 percent, what is the current s..
The currency of your country. Is it stable? Does your country have fixed or floating exchange rates? Does the exchange rate fluctuate a lot? The banking system in your country.
How can currency futures be used by corporations? How can currency futures be used by speculators? Forward versus futures contracts. Compare and contrast forward and futures contracts.
Amortizing Bond Assume that a bond makes 30 equal annual payments of $1,000 starting one year from today. (This security is sometimes referred to as an amortizing bond.) If the discount rate is 3.5% per annum, what is the current price of the bond?
The Port Authorities of New York and New Jersey estimate that the annual net revenues for the George Washington Bridge (GWB) will total $13M by the end of this year (t=1). At the end of three years (t=4) you expect a toll increase of 10%. Revenues wi..
Jane has lived in her home 6 years got married last month gave her husband one half interest in home. if they sell the home next month how much is the max exclusion from taxation on the gain.
Calculate a firm's free cash flow if it has net operating profit after taxes of $60,000, depreciation expense of $10,000, net fixed asset investment requirement of $40,000, a net current asset requirement of $30,000, and a tax rate of 30%.
When are each obtained? What is the risk profile of each? What types of lenders participate in each? Why and how do construction and permanent lenders cooperate?
Buckeye Corp. is currently an all-equity firm with a market value of equity of $100 million. The current expected return on Buckeye''s equity is 25%. Buckeye operates in a world with no taxes.
Suppose you want to have a balance of $31,000 in an account in 8 years. How much money do you need to deposit quarterly if the account earns 6% compounded quarterly to reach your goal?
A declining stock market index due to lower share prices _____.
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