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You would like to purchase a T-bill that has a $10,000 face value and is 68 days from maturity. The current price of the Treasury bill is $9,875. Calculate the discount yield on this T-bill. (Use 360 days in a year. Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))
Discount yield %------
Kessel Inc. offers a zero-coupon bond that has 15 years to maturity and the yield-to-maturity of similar bonds is 4%. What is the market price of Kessel Inc.'s bond? A Chicago, Illinois municipal bond has a maturity date in 20 years, offers a 6.5% co..
A maturity date of October 22, 2012:- What was the bond's current yield?- Why is the bond's yield to maturity less than its coupon rate?
You are evaluating a project for The Ultimate recreational tennis racket, guaranteed to correct that wimpy backhand. You estimate the sales price of The Ultimate to be $340 per unit and sales volume to be 1,000 units in year 1; 1,250 units in year 2;..
Jiminy’s Cricket Farm issued a bond with 25 years to maturity and a semiannual coupon rate of 10 percent 4 years ago. The bond currently sells for 97 percent of its face value. The company’s tax rate is 38 percent. The book value of the debt issue is..
According to the NPV method, which project should be chosen? How does this differ from the answer under the IRR? If Kay had not put a limit on the size of the capital budget, under the NPV method which projects would be accepted? Do the NPV and IRR b..
What is the difference in meaning between the terms cost and expense? Have you ever gotten confused by them and used them in a wrong context and if so how?
The building is to be constructed on land leased for $21,000 per year Net working capital must be increased by $100,000 Annual revenues from the new branch will be $400,000 Of this $400,000 in revenues, $55,000 will be drawn away from the bank’s main..
Suppose 90-day investments in Britain have a 6% annualized return and a 1.5% quarterly (90-day) return. In the U.S., 90-day investments of similar risk have a 4% annualized return and a 1% quarterly (90-day) return. In the 90-day forward market, 1 Br..
3 year(s) ago, Mack invested 5,060 dollars. In 2 year(s) from today, he expects to have 8,990 dollars. If Mack expects to earn the same annual return after 2 year from today as the annual rate implied from the past and expected values given in the pr..
Fresh Fruit, Inc. has a $1,000 par value bond that is currently selling for $819. It has an annual coupon rate of 6.64 percent, paid semiannually, and has 21-years remaining until maturity. What would the annual yield to maturity be on the bond if yo..
Consider the following two mutually exclusive projects, X and Y, and their cash flows information, Project Year 0 Year 1 Year 2 Year 3 Year 4 X ($1,400) $350 $750 $650 $650 Y ($1,000) $300 $400 $500 $600. Assume that the discount rate is 12%, compute..
Operating expenses, other than depreciation, for the year were $563,000. Accrued expenses decreased by $47,000. Using the direct method, determine the cash payments for operating expenses to be reported on the cash flow statement.
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