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Broussard Skateboard's sales are expected to increase by 15% from $8 million in 2013 to $9.2 million in 2014. Its assets totaled $4 million at the end of 2013. Baxter is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2013, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 3%. Assume that the company pays no dividends. Under these assumptions, what would be the additional funds needed for the coming year?
Zerox Copying Company plans to borrow $202,000. New Jersey National Bank will lend the money at one-half percentage point over the prime rate at the time of 10.50 percent (11 percent total) and requires a compensating balance of 29 percent. What is t..
The covariance of the returns between Willow Stock and Sky Diamond Stock og 0.0700. The variance of Willow is 0.2550. and the variance of Sky Diamond is 0.1450. What is the correlation coefficient between the returns of the two stocks?
Loris purchased educational saving bonds to help finance her son’s education. She paid $4000 for the bonds. The bonds matured at $6000 and the son used $2500 to pay his tuition for the first semester. The son quit school after one semester and Lor..
A bond with a face value of $1,000 has 10 years until maturity, carries a coupon rate of 8.4%, and sells for $1,160. Interest is paid annually. If the bond has a yield to maturity of 9.6% 1 year from now, what will its price be at that time? What wil..
Treasury bills are currently paying 6 percent and the inflation rate is 2.8 percent. What is the approximate real rate of interest? (Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Approximate real rate % What is the exact r..
At the end of the year 2004 the Office Equipment Industry had free cash flow to equity (FCFE) of $2.50 per share. The following annual growth rates in FCFE are projected: Calculate the required rate of return on equity. Calculate the present value no..
Assume the following information: Exchange rate of Japanese yen in U.S. $ = $.011 Exchange rate of euro in U.S. $ = $1.40 Exchange rate of euro in Japanese yen = 140 yen What will be the yield for an investor who has $1,000,000 available to conduct t..
Stephen plans to purchase a car 7 years from now. The car will cost $65,687 at that time. Assume that Stephen can earn 4.69 percent (compounded monthly) on his money. How much should he set aside today for the purchase?
Genetic Insights Co. purchases an asset for $17,136. This asset qualifies as a seven-year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, r..
Fisk Corporation is trying to improve its inventory control system and has installed an online computer at its retail stores. Fisk anticipates sales of 49,000 units per year, an ordering cost of $2 per order, and carrying costs of $1.60 per unit. Wha..
ABC Waterhouse's free cash flow next year will be $250 million and it is widely expected to grow at a 5 percent annual rate indefinitely. The company's weighted average cost of capital is 11 percent, the market value of its liabilities is $2.5 billio..
Chuck Brown will receive from his investment cash flows of $3,175, $3,460, and $3,830 at the end of years 1, 2 and 3 respectively. If he can earn 7.5 percent on any investment that he makes, what is the future value of his investment cash flows at th..
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