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Goldman Sachs & Co. sold a 12.5% interest in its annual profits to Sumitomo Bank Ltd of Japan in return for a capital investment of $500 million. Sumitomo was one of the world’s largest commercial banks, with assets of 172 billion. Goldman’s capital was 1.3 billion. Analyst believed that this combination illustrated the growing internationalization of securities market and the need for greater amounts of capital to finance larger trading positons and investment banking activities. Under the agreements Sumitomo’s interest would be non-voting and Goldman would remain a partnership. What is the market to book value ratio for Goldman Sachs& Co.?
Interest payable on a loan becomes a liability when
Which of the following best matches the primary goal of financial management?
On your very first day, Bill asks you to help him with his retirement planning. Bill is now 50 years old and plans to retire in 10 years. He wants to have a total of $400,000 in savings in 10 years when he retires. He currently has $100,000 saved up;..
You own a lot in Key West, Florida, that is currently unused. Similar lots have recently sold for $1,370,000. Over the past five years, the price of land in the area has increased 5 percent per year, with an annual standard deviation of 28 percent. W..
Bond Prices [LO2] Sqeekers Co. issued 15-year bonds a year ago at a coupon rate of 4.1 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 4.5percent, what is the current bond price?
Shares of SoHot Donuts common stock are currently selling for $15. Next year’s dividend is expected to be $1.50 per share and the market rate of return is 10%. At what rate is the dividend projected to be growing?
A firm has a market value equal to its book value. Currently, the firm has excess cash of $7,700 and other assets of $27,300. Equity is worth $35,000. The firm has 700 shares of stock outstanding and net income of $3,500. What will the stock price pe..
Determine the Marginal profitability of additional sales, Cost of additional investment in receivables, Additional bad-debt loss and Cost of additional investment in inventory.
You buy a share of The Ludwig Corporation stock for $21.40. You expect it to pay dividends of $1.07, $1.1449, and $1.2250 in Years 1, 2, and 3, respectively, and you expect to sell it at a price of $26.22 at the end of 3 years. Calculate the growth r..
A deposit of $800 is planned for the end of each year into an account paying 8 percent/year compounded annually. The deposits were not made for the tenth and eleventh years. All other deposits were made as planned. What amount will be in the account ..
If a firm uses the same company cost of capital for evaluating all projects which of the following is likely?
Given this information, is triangular arbitrage possible?- If so, explain the steps that would reflect triangular arbitrage, and calculate the profit from this strategy if you had $1,000,000 to use.
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