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A Treasury bill has a bid yield of 2.87% and an ask yield of 2.85%. The bill matures in 203 days. Assume a face value of $1,000. What is the dollar spread for this bill? (Do not round intermediate calculations. Round your answer to 3 decimal places. Omit the "$" sign in your response.)
Dollar spread $
Hedgepeth Inc.’s net income for the most recent year was $16,185. The tax rate was 40 percent. The firm paid $3,906 in total interest expense and deducted $2,585 in depreciation expense. What was the cash coverage ratio for the year?
Conrad Smith, a business executive, is an avid collector of vintage comic books. In February, he sold a 1938 Superman comic for $3,700 that he had purchased six years ago for $625. In December, Conrad sold a 1950 Donald Duck comic for $575 that he ha..
On January 1, 2016, you borrow $100,000, at an effective annual interest of 8%. You intend to pay off the loan via annual level amortization payments – however, your first payment will not occur until December 31, 2019. You will make a total of 20 le..
B of A has a Beta of 1.65, and the current environment requires a market risk premium of 6.00% after accounting for a risk-free rate of 4.00%. The company is expected to pay a dividend of $3.00 (D1) and that dividend is expected to grow at a constant..
Clarkson and Lee did not have a contract, but Clarkson completed extensive landscaping in Lee’s yard by mistake while Lee was away on vacation. Clarkson sent Lee a bill for the landscaping service but Lee refused to pay. Determine the likely result i..
The company cost of capital for a firm with a 65/35 debt/equity split, 8% cost of debt, 15% cost of equity, and a 35% tax rate would be:
Japanese investors purchased from Walt Disney Productions projected yen royalties. The 20-year stream of royalties is for Tokyo Disneyland. The present value of that stream of royalties, discounted at 5 percent (the return required by the Japanese in..
XYZ has just sold a callable bond. The bond is a thirty year semi-annual bond with a coupon rate of 8%. Investors, however, can call the bond starting at the end of ten years. If the yield-to-call on this bond is 10% and the call requires XYZ to pay ..
Bob sells a stock investment for $45,000 cash, and the purchaser assumes Bob's $32,500 debt on the investment. The basis of Bob's stock investment is $55,000. What is the gain or loss realized on the sale?
Whose responsibility it is to communicate the vision of the company during a time of mergers to the employees and about the impending mergers of the company being acquired?
Fijisawa, Inc., is considering a major expansion of its product line and has estimated the following free cash flows associated with such an expansion. The initial outlay associated with the expansion would be $2,010,000, and the project would genera..
INTERNATIONAL FINANCE. You are evaluating investments in U.S. equities and Mexican equities. Your stock analysts anticipate that U.S. equities will appreciate 9% over the next year. The Mexican equities are expected to rise 15%. What rate of return d..
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