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Assume the U.S. interest rate is 7.5%, the New Zealand interest rate is 6.5%, the spot rate of the NZ$ is $.52, and the one year forward rate of the NZ$ is $.50. At the end of the year, the spot rate is $.48. Based on this information, what is the effective financing rate for a U.S. firm that takes out a one year, uncovered NZ$ loan? SHOW ALL WORK
A) about –1.7%.
B) about 0.0%.
C) about 14.7%.
D) about 15.4%.
E) about 8.3%.
A Treasury bond with 7 years to maturity is currently quoted at 123:7. The bond has a coupon rate of 11.3 percent. What is the yield value of a 32nd for this bond?
Pearson Brothers recently reported an EBITDA of $9.5 million and net income of $2.8 million. It had $2.0 million of interest expense, and its corporate tax rate was 30%. What was its charge for depreciation and amortization? Write out your answer com..
A couple will retire in 30 years; they plan to spend about $ 116,914 a year in retirement, which should last about 29 years. They believe that they can earn 8 percent interest on retirement savings. How much do they need to have saved in 30 years in ..
A corporation’s pretax net income of $1,000,000 is taxable based on 30% of the first $300,000, 35% of the next $300,000, and 40% of the balance: What is the corporation’s average tax rate? What is the corporation’s marginal tax rate?
You are given the following information for Gandolfino Pizza Co.: sales = $51,000; costs = $22,700; addition to retained earnings = $7,600; dividends paid = $2,800; interest expense = $5,100; tax rate = 35 percent. Calculate the depreciation expense.
A management company has 10 percent coupon bonds on the market with fifteen (15) years left to maturity. The bonds make annual payments. If the bond currently sells for $1,200, what is its YTM?
Scatter Diagrams and High-Low Cost Estimation From April 1 through October 31, Will County Highway Department hires temporary employees to mow and clean the right-of-way along county roads. What factors might have caused the difference in the equatio..
The authors of the Financial Crisis Inquiry Report were not concerned that from 1999 to 2008, the financial sector expended $2.7 billion in reported federal lobbying expenses; individuals and political action committees in the sector made more than $..
One reason that the credit default swap market grew so rapidly from 2000 to 2007 is that:
Epley Industries stock has a beta of 1.30. The company just paid a dividend of $.30, and the dividends are expected to grow at 4 percent. The expected return on the market is 13 percent, and Treasury bills are yielding 4.5 percent. The most recent st..
Suppose you borrow $15,000 and then repay the loan by making 12 monthly payments of $1,297.92 each. What rate will you be quoted on the loan? What is the effective annual rate you are paying? A 15-year corporate bond pays $40 interest every six month..
Discuss the elements of zero-base budgeting. How does it work? What are the advantages and disadvantages of zero-base budgeting? Provide a real-life example of a user of this type of budgeting.
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