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Waldo Corporation has recently retained your accounting firm to prepare its income tax return. Art, the partner in charge of the engagement, has assigned you the job of reviewing last year’s return and making recommendations on the preparation of this year’s return. The only item of concern on the return is a $32,000 dividends received deduction that Waldo claimed on $40,000 in dividends it received from a Swiss corporation in which its owns a $30,000 interest. Write a memorandum to Art with your recommendation on the course of action your firm should take regarding the dividends received deduction.
Company "A" just paid a $1.30 dividend and analysts expect cash flows and dividends of the firm to grow at 20 percent for the next two years, 15 percent for the following two years and 6 percent annually afterwards. Stocks of this risk have required ..
The Spenz Corporation has just made a big profit and wants to pay its insurance for three years in advance while it has the money to do so. Previously, Spenz has paid $100 in premiums quarterly. Assuming a compound interest rate of 10%, what single s..
One-year Treasury bills currently earn 3.93 percent. You expected that one year from now, one-year Treasury bill rates will increase to 4.31 percent. Assume if the unbiased expectations theory is correct, what should the current rate be on two-year T..
What is a firm's weighted-average cost of capital if the stock has a beta of 1.45, Treasury bills yield 5%, and the market portfolio offers an expected return of 14%? In addition to equity, the firm finances 30% of its assets with debt that has a yie..
A comparable property sold for $5,000,000. The appraiser determined that the sale price included favorable financing from the seller worth $250,000. What is the indicated value of the subject property based on price per square foot? What is the indic..
Life insurance companies and insurance regulators may use any of the following terms to describe accelerated death benefit provisions except:
Cnooc, a Chinese public-sector company, has made a bid to purchase Unocal, a big U.S oil company, for $18.5 billion in June 2005. Treat this as an initial investment made by Cnooc in this two-year, U.S based project. If the after-tax cashflows genera..
Onshore Bank has $20 million in assets, with risk-adjusted assets of $10 million. CET1 capital is $500,000, additional Tier I capital is $50,000, and Tier II capital is $400,000. How will each of the following transactions affect the value of the CET..
A bond with 30 years to maturity has a face value of $1,000. The bond pays an 5 percent semi annual coupon, and the bond has a 7 percent nominal yield to maturity. What is the price of the bond today? Must show work.
Find the operating cash flow for the year for Harper Brothers, Inc. if it had sales revenue of $319,800,000, cost of goods sold of $142,200,000, sales and administrative costs of $39,900,000, depreciation expense of $66,400,000, and a tax rate of ..
Suppose your firm has decided to use a divisional WACC approach to analyze projects. The firm currently has four divisions, A through D, with average betas for each division of 0.8, 1.0, 1.5, and 1.7, respectively. Assume all current and future proje..
In what type of contract does an insurance company agree to pay a fix sum of payments to the beneficiary for a fee?
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