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Rogers Communication is considering whether to take advantage of historically low Canadian interest rates and lower its cost of debt by refunding its old bonds. Rogers has a $50million bond issue outstanding with a 12 percent annual coupon. These 15 year bonds were sold 5 years ago, and can be called in at a 10% call premium. According to investment bankers, the firm can sell $60million, 10 year bonds with an annual coupon rate of 8 percent, and floatation costs of $5million. Rogers' marginal tax rate is 40%. The new bonds will be sold one month before the old issue is called, and funds can be invested in treasury bills yielding 8%. The additional $10million from the new bond issue could be invested in a 10 year project with an expected NPV of $2.5million. Should Rogers proceed with the refunding? The answer should show all four working steps.
Q. Explain Productivity linked bonus? The grant of productivity-linked bonus is intended to provide substantial motivation towards achieving higher productivity by way of incre
IAS 1 contents of financial statements IAS 1 prescribes the contents of published financial statements. The major reports that are included as part of the published financial sta
The following information for the six months ended 31 December 2009 relates to the business of Mr N Morris: a) Opening cash (including bank) balance Rs 1,200 b) Production in unit
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On January 1, 2011, Doty Co. redeemed its 15-year bonds of $2,500,000 par value for 102. They were originally issued on January 1, 1999 at 98 with a maturity date of January 1, 201
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A company does not need to record the receipt of a bill for utilities used during this year if they will not pay for it until next year. True or False
A net loss resluts in a decrease in: a. Revenues b. Expenses c. Stockholder's Equity d. Liabilities
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