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Harper’s Dog Pens, Inc., with the help of its investment bank, recently issued $194.3 million of new debt. The offer price on the debt was $1,000 per bond and the underwriter’s spread was 5 percent of the gross proceeds. Calculate the amount of capital funding Harper’s Dog Pens raised through this bond issue
Don’s Captain Morgan, Inc., needs to raise $13.90 million to finance plant expansion. In discussions with its investment bank, Don’s learns that the bankers recommend an offer price (or gross proceeds) of $21.80 per share and Don’s will receive $19.25 per share.
Calculate the underwriter’s spread per share on the issue
How many shares of stock will Don’s need to sell in order to receive the $13.90 million it needs?
Consider an asset that costs $465,000 and is depreciated straight-line to zero over its six-year tax life. The asset is to be used in a four-year project; at the end of the project, the asset can be sold for $120,000. If the relevant tax rate is 35 p..
You purchase a stock today for $32.38. You think a similar risk investment should earn 11.6%. You plan to hold the stock for 3 years. If you sell the stock for $40.00, would you reach your required investment goal?
Find the future values of the following ordinary annuities:
An analyst gathered the following year-end price level data for an economy: What is the economy’s annual inflation rate for 2012? What is the average compounded inflation rate for 2007–2012?
Daniella is considering taking a job with a regulator in Washington DC. While the starting salary is not very high, the benefit package is terrific. For example, the agency contributes an annuity of $575 into a bank account in her name at the end of ..
Archer Daniels Midland Company is considering buying a new farm that it plans to operate for 10 years. The farm will require an initial investment of $11.80 million. This investment will consist of $2.70 million for land and $9.10 million for trucks ..
evaluating value of long-term elements of capital structureassignmentyou are interested in suggesting a new venture to
Upon graduating from college, you make an annual salary of $31,546. You set a goal to double it in the future. If your salary increases at an average annual rate of 6.48 percent, how long will it take you to reach your goal?
(Leverage and EPS) You have developed the following proforma income statement for your corporation: Sales $45832000 Variable costs (22756000) Revenue before fixed costs $23076000 Fixed costs (9105000) EBIT $13971000 Interest expense (1317000) Earning..
mr. swanson has expressed confusion about how foreign exchange rates will affect content cow dairy if it expands to
The last dividend paid by Florida Gator Inc. was $1.25. The dividend growth rate is expected to be constant at 15% for 3 years, after which dividends are expected to grow at a constant rate of 6% forever. If the firm’s required return (Rs) is 11%, wh..
The portfolio managers of a firm determined that over the next year interest-sensitive assets are in the amount of $1.5 billion while interest-sensitive liabilities are in the amount of $1.8 billion. Calculate GAP and Duration GAP (DGAP) for this sit..
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