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You have an arrangement with your broker to request 1,025 shares of all available IPOs. Suppose that 11% of the time, the IPO is "very successful" and appreciates by 104% on the first day, 85% of the time it is "successful" and appreciates by 10%, and 4% of the time it "fails" and falls by 17%. a. By what amount does the average IPO appreciate the first day; that is, what is the average IPO underpricing? b. Suppose you expect to receive 60 shares when the IPO is very successful, 230 shares when it is successful, and 1,025 shares when it fails. Assume the average IPO price is $18. What is your expected one-day return on your IPO investments?
Using the discounted payback period rule and a cutoff point of 2.5 years, should the company invest in this project?
Julie Horton, CEO of Horton Mfg., wants the company to reduce the percent of generators that customers return. In June, the company shipped 9,000 generators, and 2,610 were eventually returned. What percent of the June shipment was eventually returne..
A 7-year, 11.00% semiannual coupon bond with a par value of $1000 may be called in 5 years at a call price of $1,155.00. The bond sells for $970.50. (Assume that the bond has just been issued.). What is it’s yield to maturity?
According to the Capital Asset Pricing Model, this security is
Merlo, Inc. maintains a debt-equity ratio of 0.60 and follows a residual dividend policy. The company has after-tax earnings of $3,300 for the year and needs $2,900 for new investments. What is the total amount Merlo will pay out in dividends this ye..
How much money should you place in this savings account every month in order to accumulate the required amount to buy the house of your dreams?
Karsted Air Services is now in the final year of a project. What is the equipment's after-tax salvage value?
Calculate the company’s disbursement float, collection float, and net float.
What are the incentives/motives/ethical challenges in starting a business? How does the utility model differ from the patent?
If you are importing a good valued $1000 from Japan with an exchange rate of $1=Yen 100, you agreed to pay 100,000 Yen in 90 days. But if Yen is stronger, say, $1=Yen 90, the total Yen you will pay is Yen 100,000/90 Yen/$) = $1,111 that means additio..
Assume that annual interest rates are 7 percent in the United States and 6 percent in Turkey. An FI can borrow (by issuing CDs) or lend (by purchasing CDs) at these rates. The spot rate is $0.6667/Turkish lira (TL). At what forward rate is this arbit..
Your firm needs a computerized machine tool lathe which costs $55,000 and requires $12,500 in maintenance for each year of its 3-year life.
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