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The XLarge Corporation has a convertible bond outstanding with a conversion ratio of 20. The common stock is selling for $48.00. The convertible bond is selling for $1,160.00. SHOW ALL WORK FOR CREDIT
a) What is the conversion value? __________
b) What is the conversion premium? ________
c) What is the conversion price? ____________
d) If the common stock falls to $45, and the pure bond price is $890, will the bond sell for greater than its conversion value?
e) Why do firms offer convertible bonds? (discuss)
If a firm's earnings per share grew from $1 to $2 over a 10-year period, the total growth would be 100%, but the annual growth rate would be less than 10%. True or false? Explain.
The duration of a 10-year bond is 8.75 and the duration of a 2-year bond is 1.25. Both bonds are priced at par. How many of the 2-year bonds would you need to own to have the same interest rate sensitivity as one 10-year bond?
The following situations involve the provision of non-audit services. Indicate whether providing the service is a violation of AICPA rules or SEC rules including Sarbanes-Oxley requirements on independence. Explain your answer as necessary.
Credit standards and accounts receivable Evaluate the effective annual interest rate associated with loan
Why does the tax rate for a comprehensive consumption tax that is designed to replace an equal-yield comprehensive income tax have to be higher than the income tax rate? What is the impact on savings and excess burden in the investment markets?
wheeler inc. is presently in a stage of abnormally high growth because of the excess demand for widgets. the company
Reflect on the evaluation models your team discussed for your Course Project. Consider the curriculum components you could integrate into these evaluation models.
1. What is the dollar gain or loss to the bank from the combined cash and futures market operations discussed above? 2. What is the basis at the initiation of the hedge? 3. What is the basis at the termination of the hedge?
a guy borrows 9700 and wants to repay it 750 every six months with the first payment in 6 months. if the loan terms are
The operator costs $22.00 per hour. Using 1,000 billable hours per year determine the net present value for the purchase of the dump truck using a MARR of 18%. Should your company purchase the dump truck?
If Nick's standard deduction is $11,900, his itemized deductions are $12,200, and he gets an exemption of $3,800 for himself, his wife, and each dependent, what is his taxable income?
Explain the difference in the cost of financing with foreign currencies during a strong-dollar period versus a weak-dollar period for a U.S. firm.
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