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Rights Offering The Clifford Corporation has announced a rights offer to raise $40 million for a new journal, the Journal of Financial Excess. This journal will review potential articles after the author pays a nonrefundable reviewing fee of $5,000 per page. The stock currently sells for $34 per share, and there are 3.4 million shares outstanding.
a. What is the maximum possible subscription price? What is the minimum?
b. If the subscription price is set at $30 per share, how many shares must be sold? How many rights will it take to buy one share?
c. What is the ex-rights price? What is the value of a right?
d. Show how a shareholder with 1,000 shares before the offering and no desire (or money) to buy additional shares is not harmed by the rights offer.
Suppose Microsoft has no debt and an equity cost of capital of 9.2%. The average debt-to-value ratio for the software industry is 13%. What would its cost of equity be if it took on the average amount of debt for its industry at a cost of debt of 6%?
CSH has EBITDA of $5 million. You feel that an appropriate EV/EBITDA ratio for CSH is 8. CSH has $9 million in debt, $3 million in cash, and 775,000 shares outstanding. What is your estimate of CSH's stock price?
1 is when the activities in the stage must stop because there is no place to deposit the item just completeda.nbspnbsp
There are two methods for constructing the statement of cash flows: the direct method and the indirect method. What are the similarities and differences between the two methods
What is the undiscounted cash flow in the final year of an investment, assuming $10,000 after-tax cash flows from operations, $1,000 from the sale of a fully depreciated machine, $2,000 required in additional working capital, and a 35% tax rate? P..
Compare and contrast the various investment products that are available to an individual investor(like yourself) and the types of institutions that sell them.
Make sure that you show your work on each circumstance and the overall benefit of the method you determined to be best.
If a firm's earnings per share grew from $1 to $2 over a 10-year period, the total growth would be 100%, but the annual growth rate would be less than 10%. True or false? Explain.
1. you noticed from the prospectus that the fund youre considering is advertised as a no-load investment company but
comparing investment criteria. define each of the following investment rules and discuss any potential shortcomings of
penguin pucks inc. has current assets of 7000 net fixed assets of 25800 current liabilities of 6600 and long-term
Shyam & Co., caused the accompanying costs amid the year 2003.Classify the accompanying things under capital or income
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