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You are given the following information for Watson Power Co. Assume the company’s tax rate is 40 percent.
Debt: 10,000 7.7 percent coupon bonds outstanding, $1,000 par value, 15 years to maturity, selling for 106 percent of par; the bonds make semiannual payments.
Common stock: 490,000 shares outstanding, selling for $67 per share; the beta is 1.10.
Preferred stock: 27,000 shares of 5 percent preferred stock outstanding, currently selling for $87 per share. Market: 8 percent market risk premium and 5.7 percent risk-free rate. What is the company's WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
There are two parties in any lease contract - Lessee and the lessor. To a lessor, a lease analysis involves a capital digesting analysis of the property or equipment to be leased. The lessor's decision is either to purchase and lease-out the asset, o..
In 1895, the first Putting Green Championship was held. The winner’s price money was $240. In 2014, the winner’s check was $1,400,000. What was the percentage in cream per year in the winner's check over this period? If the winner’s prize increases a..
Mt. Langi issues a two-year corporate bond on 31 December, 2012 at the coupon rate of 10.5%, with a face value of $100 and interest paid semi-annually. What would be the market price of the Mt Langi 2-year bond one year prior to maturity?
Provide proof and please be specific about required conditions on relations between financial variable(s) such as of both countries.
Which of the following bonds would have the greatest percentage increase in value if all interest rates in the economy fall by 1%?
What methods of cost estimation rely primarily on historical data? Describe the problems an unwary user may encounter with the use of historical cost data.
Compact fluorescent lamps (CFLs) have become more popular in recent years, but do they make financial sense? Suppose a typical 60-watt incandescent light bulb costs $0.39 and lasts for 1,000 hours. A 15-watt CFL, which provides the same light, costs ..
Movements in Cross exchange rates last year a dollar was equal to 7 Swedish kronor, and a polish zloty was equal to $.40. Today, the dollar is equal to 8 Swedish kronor, and a polish zloty is equal to $.44. By what percentage did the cross exchange r..
The French Thaler and Company’s stock has paid dividends of $1.60 over the past 12 months. Its historical growth rate of dividends has been 8 percent but analysts expect the growth to slow to 5 percent annually for the foreseeable future. Determine t..
Based on your understanding of the concept of cost capital, which of the following statements are valid?
The control environment reflects the company's attitude, awareness, and actions of management and the board concerning the importance of control and how it is used. What aspect of the control environment is affected by the company’s decision to hire ..
The Aqua Liquid Assets Money Market Mutual Fund has a NAV of $1 per share. During the year, the assets held by this fund appreciated by 1.2 percent. If you had invested $20,000 in this fund at the start of the year, how many shares would you own at t..
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