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Calculating Flotation Costs-The Dunning Co. needs to raise $66.9 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds. The offer price is $69 per share and the company’s underwriters charge a spread of 9.5 percent. The SEC filing fee and associated administrative expenses of the offering are $469,000. (Enter your answer as directed, but do not round intermediate calculations.) Required: How many shares need to be sold? (Enter the whole number for your answer, not millions (e.g., 1,234,567). Round your answer to the nearest whole number (e.g., 1,234,567).) Number of shares offered
Fred and Frieda have always wanted to enter the blueberry business. They locate a 50- acre piece of hillside in Maine that is covered with blueberry bushes. Assume that the land can be sold for only $50,000 at the end of 20 years (a capital loss of $..
Provide two reasons for a company to lease some type of capital equipment, rather than buying it. (b) Provide three reasons for a company to buy some capital equipment, rather than lease it.
Using the constant growth rate model (and data from Bloomberg) shows that the present value of expected dividends for the next five years for McDonald’s is only about $1.98. How can such a large discrepancy in the two dollar values on the same date ..
In your readings you were shown sources where decision tools can be found. Please refer to the "What is a Decision?" lecture and select "Click to Explore." In the list provided, you will notice paired comparison analaysis. Select and read about this ..
Medwig Corporation has a DSO of 23 days. The company averages $5,000 in credit sales each day. What is the company's average accounts receivable? Round your answer to the nearest dollar. Williams & Sons last year reported sales of $13 million and an ..
The personal auto policy contains several coverages that meet the insurance needs of typical insured individuals. For each of the following coverages, briefly describe the type of coverage provided, and give an example of a loss that would be covered..
Ang Enterprises has a levered beta of 1.16, a capital structure with a 40 percent debt ratio, and a marginal tax rate of 35 percent. What would Ang's beta be if it used no debt in its capital structure, i.e., what is its unlevered beta?
At year-end 2013, Wallace Landscaping’s total assets were $1.8 million and its accounts payable were $450,000. Sales, which in 2013 were $2.1 million, are expected to increase by 20% in 2014. Total assets and accounts payable are proportional to sale..
The Clothing Depot maintains a debt-equity ratio of .50 and follows a residual dividend policy. The firm needs $2,700 for new investments next year. The after-tax earnings this year are $1,700. What is the amount that the Clothing Depot will pay out ..
Mammoth Mutual Fund of New York has $10 million to invest in certificates of deposit (CDs) for the next 6 months (180 days). It can buy either a Pittsburgh National Bank (PNB) CD with an annual yield of 11 percent, or a Swiss bank CD with a yield of ..
Suppose you buy stock at a price of $83 per share. Three months later, you sell it for $89. You also received a dividend of $.38 per share. What is your annualized return on this investment?
Pickard Company pays its sales staff a base salary of $4,500 a month plus a $3.00 commission for each product sold. If a salesperson sells 800 units of product in January, the employee would be paid:
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