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A coin that was featured in a famous novel sold at auction in 2014 for $2,860,000. The coin had a face value of $5 when it was issued in 1787 and had previously been sold for $405,000 in 1972.
At what annual rate did the coin appreciate from its first minting to the 1972 sale? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Rate of return %
What annual rate did the 1972 buyer earn on his purchase? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
At what annual rate did the coin appreciate from its first minting to the 2014 sale? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
What type of firm invests in companies for non-financial reasons?
Ilana Industries, Inc., needs a new lathe. It can buy a new high-speed lathe for $1 million. The lathe will cost $36,000 to run, will save the firm $123,000 in labour costs, and will be useful for 11 years. What is the NPV of buying the new lathe?
Jiminy's Cricket Farm issued a 30-year, 10.4 percent semiannual bond 9 years ago. The bond currently sells for 85.5 percent of its face value. The company’s tax rate is 30 percent. What is the pretax cost of debt? What is the aftertax cost of debt?
Stock returns and your retirement account: Suppose your retirement account has a balance today of $25,000 and you are 20 years old. If you are invested in a diversified portfolio of stocks, you might hope that the historical return of about 6% contin..
Under what condition(s) would a company want to consider calling a callable bond issue?
Using an Internet search engine, search for “strategic alliance” and identify three recently formed alliances. For each alliance, identify whether the companies’ other products are generally competitors or complementary products. What are the goals o..
Calculate the current price of a $1, 000 par value bond that has a coupon rate of 17 percent, pays coupon interest annually, has 27 years remaining to maturity, and has a current yield to maturity (discount rate) of 8 percent.
YIELD TO MATURITY A firm's bonds have a maturity of 9 years with a $1,000 face value, have an 7% semiannual coupon, are callable in 5 years at $1,200, and currently sell at a price of $1,150. What are their nominal yield to maturity?
You read in The Wall Street Journal that 30-day T-bills are currently yielding 5.9%. Your brother-in-law, a broker at Safe and Sound Securities, has given you the following estimates of current interest rate premiums: On the basis of these data, what..
Discuss a current news event that illustrates unclear, ambiguous or inaccurate financial data communicated to a firm’s stakeholders. Discuss the consequences and specific reasons for this failure of communication. Analyze the situation and determine ..
What are the 4 ways to implement stock repurchase?
You purchased a zero coupon bond one year ago for $173.85. The market interest rate is now 9 percent. If the bond had 20 years to maturity when you originally purchased it, what was your total return for the past year? Assume semiannual compounding. ..
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