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Howett Pockett, Inc., plans to issue 11.7 million new shares of its stock. In discussions with its investment bank, Howett Pocket learns that the bankers recommend a net proceed of $37.20 per share and they will charge an underwriter’s spread of 4.0 percent of the gross proceeds. In addition, Howett Pockett must pay $5.1 million in legal and other administrative expenses for the seasoned stock offering. Calculate the gross proceeds per share. (Round your answer to 2 decimal places.) Gross proceeds $ 38.75 per share
Calculate the total funds received by Howett Pockett from the sale of the 11.7 million shares of stock.(Enter your answer in millions of dollars rounded to 3 decimal places.) Funds received by Howett Pockett $
A company’s technicians do many service calls to their customers’ sites and have been using their own cars, for which the company reimburses them at a rate of $0.56 per mile. A technician travels an average of 35,000 miles per year. If the interest r..
Solver Group is a global leader in the Biotechnology industry. Aants is an airline which operates globally. Both Solver and Aants are based in Australia. Which company is more likely to have higher financial leverage?
The Delta Fish Hatchery factors its accounts receivables immediately at a discount rate of 1.8 percent. The average collection period is 39 days. Assume all accounts are collected in full. What is the effective annual interest rate on this arrangemen..
Your beginning salary is 70,000. You deposit 10% each year in a savings account that earns 6% interest. Your salary increases by 5% per year and inflation is 3% per year. What value does your savings account show after 40 years? What is the value in ..
Assume the following exchange rate quotes on British pounds: - Explain how locational arbitrage would occur. Also explain why this arbitrage will realign the exchange rates.
What is the breakeven point in units? In dollars? What is the contribution margin in percent? In dollars?
The City of Swimfield is building a new pool. The pool will cost $1.5 million to construct in year one. The pool will open in year two and will need another capital investment of $150,000 in year eleven. All costs and benefits accrue at the end of ea..
A 10 year bond has semi-annual coupons. The coupon rate is 5% for the first 5 years and 9% for the following 5 years. The bond has face amount of 100 and a redemption amount of 105. Six months before the first coupon, the bond is purchased for 100. C..
Use the following industry average ratios to construct a pro forma balance sheet for Carlos Menza, Inc. The company's total assets are $___________(round to the nearest dollar) The company's fixed assets are $___________(round to the nearest dollar) ..
A 100,000 loan agreement has payments and inputs as follows. Calculate the XNPV, XIRR, NPV and IRR of the resulting cash flows
Erika and Kitty, who are twins, just received $35,000 each for their 26th birthdays. They both have aspirations to become millionaires. Each plans to make a $5,000 annual contribution to her "early retirement fund" on her birthday, beginning a year f..
"Congress shall establish a central bank that will be responsible for conducting the monetary policy of the United States." What effect would such an amendment be likely to have on the Fed?
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