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What is the Macaulay duration of a 7.6 percent coupon bond with seven years to maturity and a current price of $942.40? What is the modified duration? (Round your answer to 3 decimal places.)
Duration
Macaulay Years
Modified Years
Firm A and Firm B have the same total assets, ROA and profit margin (greater than 0). However, Firm B has a higher debt ratio and interest expense than Firm A.
Hughes Technology Corp. recently went public with an initial public offering in which it received a total of $62.15 million in new capital funding. Calculate the number of shares issued through this IPO.
A LONG forward contract that was negotiated some time ago will expire in 2.5 years and has a delivery price of $60. The current stock price underlying this forward contract is $65. The risk-free rate with continuous compounding is 7% for all maturiti..
Bond rating agencies have invested significant sums of money in an effort to determine which quantitative and non-quantitative factors best predict bond defaults. To recoup those costs, some bond rating agencies have tied their ratings to the purchas..
The lack of historical data makes it difficult to create a forecast and budget for a new company. Class, how many years of historical sales data do you think are necessary in order to create an accurate forecast of sales? Explain.
Real Estate Finance Assignment-Your aunt has already received several loan quotes from different banks. Determine the monthly payment and effective borrowing cost for each loan below by creating a separate worksheet for each $131,600 loan given she p..
A stock has a beta of 1.28 and an expected return of 12.6 percent. A risk-free asset currently earns 4.2 percent. What is the expected return on a portfolio that is equally invested in the two assets? (Do not round intermediate calculations.
Farmers sometimes store their grain and wait to sell at a later date if they think market prices will increase. If they are accurate in their forecasts, this can be a profitable strategy. Let’s look at an example and determine the best course of acti..
Burke Tires just paid a dividend of D0 = $1.50. Analysts expect the company's dividend to grow by 30% this year, by 10% in Year 2, and at a constant rate of 5% in Year 3 and thereafter. The required return on this low-risk stock is 9.00%. What is the..
If a bond is selling on the open market at $960 is it selling at a premium or discount? List 2 factors that might contribute to this selling price. What is the value today of a bond with the below attributes? What is the value of $50,000 invested at ..
Someone told you that the table on page 45 of the Cohen Finance Book does not apply to companies like Microsoft or Apple that have much larger profit ratios, not the 1.6% displayed in C4. Is this true or false? Explain.
McDowell Industries sells on terms of 3/10, net 25. Total sales for the year are $1,561,000; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 74 days after their purchases. Assume 365 days in year for ..
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