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Accounting Advice." Brad, a newly hired Certified Public Accountant, who barely passed his boards, was asked by a business client, a chief executive officer, about the effect of the Sarbanes-Oxley Act on an accounting issue. Brad assured the client that the client should not be concerned about the Act because it is very vague, unspecific, and difficult to understand. Brad told the CEO that in any event, the CEO could not be held personally responsible regardless of what happened because only company business was involved. Brad also told the CEO that there is no oversight involved with the act. Later that same day, a coworker of Brad discovered that the CEO had been involved in misstating some financial reports and had also destroyed financial documents to cover up fraud. An employee at the company, Laura, had informed the coworker as well as the SEC. When the issue was mentioned to the CEO, he immediately fired Laura.
Tom sold 100 cases of tomato soup to Louie for $1,500. Louie gave Tom a promissory note, which stated "I promise to pay to the order of Tom the sum of $1,500 three months from date, together with 5% interest." When Sally presents the note to Louie fo..
The standard deviation of asset x is 10%. The standard deviation of asset Y is 32%. the correlation between the returns of X and Y is 32%. If you have a portfolio invested equally in X and Y, the portfolio standard deviation is? Please show me how to..
The management of Stanforth Corporation is investigating automating a process. Old equipment, with a current salvage value of $30,000, would be replaced by a new machine. The new machine would be purchased for $438,000 and would have a 6 year useful ..
Assume that securitization combined with borrowing and irrational exuberance in Hyperville have driven up the value of existing financial securities at a geometric rate, specifically from $6 to $12 to $24 to $48 to $96 to $192 over a six-year time pe..
On January 8, 2016, a bank wants to lock in the 3-month interest rate starting on June 20, 2017. Currently, 6/2017 Eurodollar futures price is 94.93 and 9/2017 Eudollar futures price is 97.55. What is the interest rate that the bank can lock in? (Mar..
Endicott Enterprises Inc. has issued 30-year semiannual coupon bonds with a face value of $1,000. If the annual coupon rate is 14% and the current yield to maturity is 15%, what is the firm's current price per bond?
If interest rates were 4 percent, how much would you give today for a loan with a $100,000 balloon principal payment due in a year and that will pay $16,000 in interest at the end of each quarter, including the final quarter when the principal falls ..
Discuss the challenges that analysts can encounter when attempting to interpret financial data. What recommendations would you give analysts to ensure ease and accuracy of data report in this situations?
Brash Corporation initiated a new corporate strategy that fixes its annual divedend at $2.25 per share forever. If the risk free rate is 4.5% and the risk premium on Brash's stock is 10.8%, what is the vale of Brash's stock? Can you please show the e..
A 6.35 percent coupon bond with fifteen years left to maturity is priced to offer a 7.7 percent yield to maturity. You believe that in one year, the yield to maturity will be 7.0 percent. What is the change in price the bond will experience in dollar..
A four-year bond has an 8% coupon rate and a face value of $1000. If the current price of the bond is $870.51, calculate (YTM) the yield to maturity (assume annual interest payments)
Able, Baker, and Charlie are the only three stocks in an index. The stocks sell for $57, $315, and $114, respectively. If Baker undergoes a 3-for-2 stock split, what is the new divisor for the price-weighted index?
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