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Housing Construction Company (HCC) has agreed to build a housing project for the city of New York. On January 1st, 2006 the company and the city agreed on the following terms: the construction should take no more than three years, and HCC would be paid a total of $300 million for the project; the $300 million would be paid in three payments of $100 million at the end of year 2006, 2007, and 2008. HCC expects contractions costs to be $100 million in year 2006, $100 million in year 2007, and $20 million in year 2008.
a. If HCC uses the completed contract method, what revenues and expenses would HCC recognize in year 2006, 2007, and 2008?
b. If HCC uses the percentage of completion method, what revenues and expenses would HCC recognize in year 2006, 2007, and 2008?
A mortgage broker is offering a $174,900 25-year mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 3.1 percent APR interest rate. After the second year, the mortgage interest rate charg..
After a 5-for-1 stock split, Strasburg Company paid a dividend of $1.45 per new share, which represents a 12% increase over last year's pre-split dividend. What was last year's dividend per share?
Patriotic Bank currently has $800 million in transaction deposits on its balance sheet. The current reserve requirement is 10 percent, but the Federal Reserve is decreasing this requirement to 8 percent. Present the balance sheet (before and after ch..
Suppose Petron "management team will choose the strategy that leads to the highest expected value of Petron's equity. Which strategy will management choose if Petron currently has no debt, debt with face value of $20million and $40 million?
Some time ago, Julie purchased eleven acres of land costing $14,690. Today, that land is valued at $27,514. How long has she owned this land if the price of the land has been increasing at 4 percent per year?
The Jordan Company has return on total assets of 13%, and the debt-equity ratio is 0.65. What is Jordan’s ROE?
An investment project has annual cash inflows of $4,300, $4,000, $5,200, and $4,400, and a discount rate of 13 percent. What is the discounted payback period for these cash flows if the initial cost is $7,900?
Boo pack is preparing to pay its first dividends. It is going to pay $1.00, $2.50, and $5.00 a share over the next three years, respectively. After that, the company has stated that the annual dividend will be $1.25 per share indefinitely. What is th..
Identify an industry to focus on. Explain why you chose this industry - Identify the top companies in the industry
A stock has an expected return of 14.9 percent, the risk-free rate is 5.85 percent, and the market risk premium is 7.6 percent. What must the beta of this stock be? (Do not round intermediate calculations. Round your answer to 3 decimal places (e.g.,..
Draw a profit-volume graph for Hawkesbury Company - Prepare income statements for 20x4 using (a) absorption costing and (b) variable costing.
Orbital Communications has operating plants in over 100 countries. It also keeps funds for transactions purposes in many foreign countries. Assume in 2010 it held 280,000 kronas in Norway worth $53,000. The funds drew 12 percent interest, and the kro..
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