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A company has net income of $1,500 and profit margin of 12%. The company’s depreciation expense for the year was $500, interest expense was $300, and the average tax rate is 35%.
a. What was the company’s taxable income?
b. What was the company’s EBIT?
c. What were the company’s total expenses from operations?
Grohl Co. issued 6-year bonds a year ago at a coupon rate of 12 percent. The bonds make semi annual payments. If the YTM on these bonds is 12 percent, what is the current bond price?
moneyball a book by michael lewis 2003 highlights how creativity framing and robust technical analysis all played a
Several years ago, a Texas bank offered a thirty-year CD with an annual return indexed to inflation. The rate offered was the annual percentage increase in the CPI plus 4 percent. Show the after-tax real return you would earn, assuming that the infla..
We want to determine cost of equity for Firm A. We know that Firm A’s target debt-to equity ratio is 2.00. We also know that there is a comparable firm which has exactly same lines of business and therefore is expected to have the same level of busin..
Kaufman Enterprises has bonds outstanding with a $1,000 face value and 10 years left until maturity. They have an 10% annual coupon payment, and their current price is $1,175. The bonds may be called in 5 years at 109% of face value (Call price = $1,..
Consider the following project which costs $2,000 with a salvage value of zero in 4 years. The project will produce a new widget which will be sold for $135 and have variable costs of $95 per unit. The company has fixed costs of $3,000 and a required..
Suppose you are considering buying a new car. You are going to make monthly payments (at the end of each month) on a loan of $33,000 for five years. If the annual percentage rate is 7.5% what is your monthly payment? Based on your payment, what is th..
Suppose you own 2,000 common shares of a firm. The EPS is $10, the DPS is $3.00 and the stock sells for $80. The firm announces a 2 for 1 split. Immediately after the split, how many shares will you have? What will be the adjusted EPS and DPS and, wh..
A company is 35% financed by risk-free debt. The interest rate is 12%, the expected market risk premium is 9%, and the beta of the company's common stock is 1.5. What is the company cost of capital? What is the after-tax WACC, assuming that the compa..
A person purchased a house 20 years ago for $270,000 by paying 20% down and signing a 30-year mortgage at 9.45% compounded monthly. The current appraised value of the house is $390,000. If a bank will loan this person 95% of the equity in the house, ..
Describe the characteristics of the ladder investment strategy and compare them to the barbell investment strategy. Why should the barbell strategy outperform the ladder strategy in a stable or declining interest rate environment? Why should the ladd..
ASD Corp. will pay a dividend of $1.15 on each of its common shares next year. The company has stated that it will maintain a constant growth rate of 4.2% per year forever. If you require 8.5% return to invest in ASD stock (and assuming you agree wit..
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