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The Johnson Company bought a truck costing $24,000 two and a half years ago. The truck's estimated life was four years at the time of purchase. It was accounted for by using straight line depreciation with zero salvage value. The truck was sold yesterday for 19,000. What taxable gain must be reported on the sale of the truck?
A portfolio is comprised of two stocks, C and D. The expected return of the portfolio is 12%, the expected return of the market is 10%, and the risk free rate is 1.5%.Stock C’s beta is 1.2 and Stock D's beta is 0.9. What are the weightings of Stocks ..
Assume a clinical laboratory is considering a new test. Here are the key assumptions: annual fixed direct costs = $20,000, annual overhead allocation = $10,000, variable cost per test = $5, and expected volume = 5,000 tests. What price should be set ..
Which of the following would lower the sum of the present values of expected cash flows?
The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,390,000, and the December 31, 2014, balance sheet showed long-term debt of $1,560,000. The 2014 income statement showed an interest expense of $93,000. What was the fir..
A stock you are buying today promises no dividends for a long time. In exactly 10 years, you expect the stock will pay its first annual dividend of $1.90. At that time, you also believe the stock could be sold for $41.00. If today you can buy the sto..
Dearborn Supplies has total sales of $196 million, assets of $90 million, a return on equity of 30 percent, and a net profit margin of 7.9 percent. What is the firm's debt ratio?
On January 1,, 2004, Pearce and Co. will issue new bonds to finance its expansion plans. Currently outstanding 9%, January 1, 2020 Pearce and Co. bonds are selling for 1,141. If interest is paid semi annually for both bonds, what must the coupon rate..
A fast-growing firm recently paid a dividend of $0.60 per share. The dividend is expected to increase at a 20 percent rate for the next three years. Afterwards, a more stable 10 percent growth rate can be assumed. If an 11 percent discount rate is ap..
You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of .4 percent per year, compounded monthly for the first six months, increasing thereafter to 16.7 percent compounded monthly. Assume you transfer t..
Consider an asset with a beta of 1.2, a risk-free rate of 5%, and a market return of 13%. What is the reward-to-risk ratio in equilibrium? What is the expected return on the asset?
Explain what the standard deviation of returns is and why it is especially useful in finance, and calculate it for an asset.
Tanner Tavern writes four checks a day for an average amount of $5,400 each. These checks generally clear the bank four days after they are written. In addition, the firm generally receives and deposits checks amounting to $18,700 each day. All depos..
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