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Given the following information, what is the ending balance of Class A securities after the year 1 payments? (State your answer as a positive number, rounded to the nearest cent.) A CMO is being issued with 3 tranches. The A tranche will consist of $20M of principal and have a coupon of 7%. The B tranche will have a coupon of 7.5% and a principal of $10M. The Z tranche will carry a coupon of 8.25% with a principal of $25M. The mortgages backing the security issued are FRM at 8.5% with 10 year maturities and annual payments (for simplicity). The issue will be overcollateralized by $3M and the issuer (residual) will receive cash flows only after all classes of investors have been completely repaid. Priority payments will be made to the A tranche and will include the promised coupon. Interest will be accrued to the Z tranche until A is completely repaid. The B class will receive interest payments only until the A class is repaid. The A class will then receive all remaining CFs from the pool that year. After A is repaid, B will receive priority principal payments. The Z class will accrue interest at 8.25% until both A and B are repaid. It will receive current interest and principal payments at that time. Assume there is no prepayment and no servicing fees.
Blue Dog Manufacturing Corp. just reported a net income of $11,000,000, and its current stock price is $23.00 per share. Blue Dog is forecasting an increase of 25% for its net income next year, but it also expects it will have to issue 2,100,000 new ..
DLQ Inc. bonds mature in 12 years and have a coupon rate of 6 percent. If the market rate of interest increases, then the
The Horizon Company will invest $60,000 in a temporary project that will generate the following cash inflows for the next three years. The firm will also be required to spend $10,000 to close down the project at the end of the three years. If the cos..
Calculate the firms earnings per share (EPS) for each year, recognising that the number of shares issued has remained unchanged since the firm's inception. Comment on the EPS performance in view of your response to question 1a.
Discuss at least 3 Money Market instruments and 3 Capital Market Instruments. What roles do they play in the flow of money given their differences?
When an Italian student attends a US college, which of the following balance of payments entries occurs for the United States? All of the following are appropriate response for a U.S. exporter to appreciation of the dollar EXCEPT?
If you invest $3,377 today in an account earning 15.12% interest and leave the account unmolested for 35 years; how much will be in the account at the end of the 35 years?
As the project manager, the project team is looking to you for direction on each of these issues. Review the comments of the key players, consult the grading rubric below and then answer the following questions.
Early in September 1983, it took 275 Japanese yen to equal $1. Nearly 28 years later, in August 2011, that exchange rate had fallen to 105 yen to $1. What would the dollar price of the automobile be in August 2011, again assuming that the car's price..
A bank borrows money at the 5 year CD rate found in the paper with daily compounding. It loans money at the 15 year mortgage rate in the paper which is compounded monthly. If the bank borrows $10,000,000 from depositors and loans the $10,000,000 out ..
Summarize the authoritative guidance for asset impairments under IFRS. Give at least two (2) examples of events that could cause an asset to be tested for impairment, and recommend the best method to determine the fair value of an impaired asset. Exp..
Identify and briefly describe two phases of the capital budgeting process. (b) Would saving time by skipping one of these phases in the capital budgeting process make sense financially?
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