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Filer Manufacturing has 7.7 million shares of common stock outstanding. The current share price is $47, and the book value per share is $5. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $68.8 million and a coupon rate of 6.4 percent and sells for 108.9 percent of par. The second issue has a face value of $58.8 million and a coupon rate of 6.9 percent and sells for 107.7 percent of par. The first issue matures in 9 years, the second in 26 years. Suppose the company’s stock has a beta of 1.3. The risk-free rate is 2.5 percent, and the market risk premium is 6.4 percent. Assume that the overall cost of debt is the weighted average implied by the two outstanding debt issues. Both bonds make semiannual payments. The tax rate is 40 percent. What is the company’s WACC? (Do not round intermediate calculations and round your answer to 2 decimal places. (e.g., 32.16))
Income statement preparation On December 31, 2015, Cathy Chen, a self-employed certified public accountant (CPA), completed her first full year in business. During the year, she billed $360,000 for her accounting services. She had two employees, a bo..
Momsen Corp. is experiencing rapid growth. Dividends are expected to grow at 25 percent per year during the next three years, 15 percent over the following year, and then 7 percent per year indefinitely. The required return on this stock is 12 percen..
A stock has had returns of 16.42 percent, 12.14 percent, 5.64 percent, 26.50 percent, and ?13.34 percent over the past five years, respectively. What was the holding period return for the stock?
The list price of a car is $8760. It is available at either a 10/20/5 or a 35/30 trade discount series. Which trade discount series gives the better deal? By how much?
Cash inflows from investing activities include. Operating activities do not include cash. Which of the following would decrease net cash provided by operating activities?
question 1 american standard co. has a 90 day pound1 million receivable. american standards bank bank of america
Beginning three months from now, you want to be able to withdraw $3,700 each quarter from your bank account to cover college expenses over the next four years. Required: If the account pays .77 percent interest per quarter, how much do you need to ha..
Firms go public to. You own 100 of the 15,000 outstanding shares of Delta Movers stock. The firm just announced that it will be issuing an additional 5,000 shares to the general public in a cash offer at $22 per share. What type of event are you part..
A chain of appliance stores, APP Corporation, purchases inventory with a net price of $750,000 each day. The company purchases the inventory under the credit terms of 1/15, net 35. APP always takes the discount, but takes the full 15 days to pay its ..
Over the past thirty years, has the yield curve more often sloped upward, downward or been flat? Explain why you believe this is so and relate your findings to the expectations theory of the term structure of interest rates. Are there other explanati..
Atlantis Fisheries issues zero coupon bonds on the market at a price of $513 per bond. These are callable in 5 years at a call price of $570. Using semiannual compounding, what is the yield to call for these bonds?
You have been managing a $5 million portfolio that has a beta of 0.75 and a required rate of return of 14%. The current risk-free rate is 5.25%. Assume that you receive another $500,000. If you invest the money in a stock with a beta of 0.70, what wi..
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