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Organic Produce Corporation has 8 million shares of common stock outstanding, 550,000 shares of 7 percent preferred stock outstanding, and 180,000 of 8.2 percent semiannual bonds outstanding, par value $1,000 each. The common stock currently sells for $64.50 per share and has a beta of 1.25, the preferred stock currently sells for $107.50 per share, and the bonds have 15 years to maturity and sell for 93.5 percent of par. The market risk premium is 6.8 percent, T-bills are yielding 5.5 percent, and the firm’s tax rate is 34 percent. What is the firms cost of each form of financing? Round answer to two decimals.
Squidward Tentacles & Co. will pay an annual dividend of $0.65 one year from now. The dividend is expected to grow at a 12% rate for the next 4 years and then settle down to a steady growth rate of 2% per year in perpetuity. If Squidward Tentacle’s r..
The current yield on a par value bond will exceed the bond's yeild to maturity. The yield to maturity on a premium bond exceeds the bond's coupon rate. The current yield on a premium bond is equal to the bond's coupon rate
If a firm's sales are $1,500,000 and it costs 9 percent to carry current assets, what is the potential savings if management can increase inventory turnover from 3 to 4 times a year and increase receivables turnover from 4.5 to 6 times a year?
Lebron received $50,000 of compensation from his employer and he received $400 of interest from a municipal bond. What is the amount of Lebron's gross income from these items? Lydia and John Wickham filed jointly in year 1. They divorced in year 2. I..
You are evaluating two different silicon wafer milling machines. The Techron I costs $258,000, has a three-year life, and has pretax operating costs of $69,000 per year. The Techron II costs $450,000, has a five-year life, and has pretax operating co..
Suppose you are working with two factor portfolios, portfolio 1 and portfolio 2. The portfolios have expected returns of 15% and 6%, respectively. Based on this information, what would be the expected return on well-diversified portfolio A, if A has ..
What is the current account generally composed of? What is the financial account generally composed of? What are some of the major objectives of the IMF?
Present value of dividends: Fresno Corp. is a fast-growing company that expects to grow at a rate of 30 percent over the next two years and then to slow to a growth rate of 18 percent for the following three years. If the last dividend paid by the co..
Andres Michael bought a new boat. He took out a loan for $24,420 at 2.75% interest for 4 years. He made a $4,850 partial payment at 4 months and another partial payment of $2,810 at 9 months. How much is due at maturity?
Income statement preparation On December 31, 2015, Cathy Chen, a self-employed certified public accountant (CPA), completed her first full year in business. During the year, she billed $360,000 for her accounting services. She had two employees, a bo..
Use BAII Plus Calculator and show calculator entry for the following: The next dividend payment by ZYX, Inc. will be $1.99 per share. The dividends are anticipated to maintain a growth rate of 4.5 percent forever. If ZYX stock currently sells for $31..
If interest parity holds and the interest rate in the U.K. is 6 percent, the interest rate in the US is 4.5 percent, and the one-year forward exchange rate is 1.75 dollars per British pound, what must be the spot exchange rate? Is the U.S. dollar exp..
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