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Bonds issued 14 years ago by Kramer Manufacturing mature in 11 years and have a $1,000 face value. Each bond carries a 6 percent coupon, payable semiannually, and currently sells for $993.65. What is the yield to maturity? 5.87 percent 5.92 percent 6.08 percent 6.14 percent 6.20 percent
Determining the Ex-Dividend Date. On Tuesday, December 8, Lippincott Power Co.’s board of directors declares a dividend of 75 cents per share payable on Tuesday, January 26, to shareholders of record as of Tuesday, January 12. What is the ex-dividend..
Suppose two factors are identified for the U.S. economy: the growth rate of industrial production, IP, and the inflation rate, IR. IP is expected to be 5% and IR 6%. A stock with a beta of 1 on IP and 0.5 on IR currently is expected to provide a rate..
The difference between the weighted-average cost of capital (WACC) and the pre-tax (unlevered) WACC is
First City Bank pays 8 percent simple interest on its savings account balances, whereas Second City Bank pays 8 percent interest compounded annually. If you made a deposit of $8,500 in each bank, how much more money would you earn from your Second Ci..
Robert Rhodes borrows $10,000 at an annual effective interest rate of 4% and agrees to repay it with installments at the end of each year for 30 years. The first 15 payments are each 2R, and the last 15 payments are each R. However, X is determined s..
Two years ago, Espirit De Corps sold $250 million worth of bonds at $1,000 each. The bonds had a maturity of 12 years when they were originally issued and a coupon rate of 12%. Today these bonds are selling for $910. Determine the yield-to-maturity (..
You hold a portfolio consisting of a $5,000 investment in each of 20 different stocks. The portfolio beta is equal to 0.87. You have decided to sell a coal mining stock (b = 1.00) at $5,000 net and use the proceeds to buy a like amount of a mineral r..
Briles offered to sell his used automobile to Nevarro for $12,600 cash. Nevarro agreed to nuy the car, gave Brilles a check for $12,600 and drove away in the car. The next Nevarro sold the car for $13,000 to Houfh a bona fide purchaser. The $12600 ch..
Given the corporation tax rate of 30% the before tax weighted average cost of capital for Le Monde is lower than its after tax WACC. For le monde corporation, the costs of various types of capital are as follows:
The Market price is $775 for a 9-year bond ($1,000 par value) that pays 9 percent annual interest, but makes interest payments on a semiannual basis (4.5 percent semiannually). What is the bond's yield to maturity?
The Framingham Company expects to grow at 4% indefinitely. Economists are currently asserting that investment opportunities in short term government securities (Treasury bills) are readily available at a risk free rate of 5%. The firm recently paid a..
Lucinda has a mortgage loan with an interest rate of 3.9% APR, compounded monthly for 30 years. Her taxes and insurance are $375 per month. Lucinda has an estimate for a contract for $8,500 firm, fixed price to remodel the house and this expense will..
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