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A firm has $900,000 in inventory qualifying for a short-term loan with a warehouse receipt. A commercial bank will accept this warehousing agreement and inventory as collateral and will advance 80% of the value of the inventory on loan at 6%. The bank charges $5,000 upfront for the agreement. The firm will use the borrowing for 60 days. What is the effective annual rate on the borrowing?
A firm is considering actions which will raise its debt ratio. It is anticipated that these actions will have no effect on sales, operating income, or on the firm's total assets. If the firm does increase its debt ratio, which of the following will o..
A 6.70 percent coupon bond with 28 years left to maturity can be called in nine years. The call premium is one year of coupon payments. It is offered for sale at $1,136.95. What is the yield to call of the bond?
A bond issued by company ABC has 7% coupon, 10 years to maturity, and is currently priced at $1010. What is the bond’s yield? (show the steps and calculations you did) Find the coupon payments. Draw the time-line diagram.
Car dealers are trying a number of promotional methods to induce car sales. One dealer offers a year’s supply of free gas to any consumer who buys a car during the month of July. Calculate the present value of the gas promotion
Drogo, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 16 years to maturity that is quoted at 105 percent of face value. The issue makes semiannual payments and has an embedded cost of 10 percent annually. Wh..
Distinguish between a variable cost, a fixed cost, and a mixed cost. Identify a publicly traded, well-known company, and identify what you envision would be a variable cost, a fixed cost, and a mixed cost for this company.
Three years ago, Joe bought a 5-year, 10% coupon paid semi annually bond for $1000. Currently, with interest rates having risen sharply, the bond is selling for $800 and you decide to sell it off. If you had re-invested the semi-annual coupons as you..
A firm evaluates all of its projects by applying the IRR rule. A project under consideration has the following cash flows: Year Cash Flow 0 –$ 28,900 1 12,900 2 15,900 3 11,900 If the required return is 14 percent, what is the IRR for this project?
Assume that the Federal Reserve injects $2 billion into the financial system. If the reserve requirement is 18%, what is the maximum increase in money supply? Why might the maximum increase not be achieved?
Calculate net patient service revenue (dollars in thousands), using the information below. The table below is a list of accounts at December 31, 2012, for healthy clinic (Dollars are in thousands)
For a U.K. firm to hedge a ?100,000 payable using options, there are two possible ways the firm can approach this. Can you please provide a description of each of the two possible hedging approaches?
Which of the following is characteristic of fractional reserve banking?
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