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IMEX Global Solutions issued a bond on December 31, 2015 to the public which pays $80 once per year in interest and a $1,000 principal repayment after year 10, and is priced in the open market to reflect a required return of 11.5% to bondholders, or $798. The company’s management has the option of redeeming this bond early for $1,060 plus any accrued interest. As it relates to the IMEX bonds, identify the following: Current Yield Yield to Maturity.
Suppose that you are a financial manager of a manufacturing company. Would you raise or lower the cash balance of your company if interest rates are rising in the financial market? Why?
What are the estimated retained earnings at the end of next year?
A futures is currently at $75. The risk free interest rate is 6.5% p.a. compounded monthly. The volatility of the futures price is 30% p.a. continuously compounded. Using binomial option pricing model, what is the value of 6-month American call optio..
Justify and criticize the usual assumption made in financial management literature that the objective of a company is to maximize the wealth of its shareholders.
Frank is an option speculator. He anticipates the Danish kroner to appreciate from its current level of $.19 to $.21. Currently, kroner call options are available with an exercise price of $.18 and a premium of $.02. Should Frank attempt to buy this ..
The Urban Transport Company (UTC) in the city of Megopolis has been approached by a firm that has stated that by replacing the engines in their current fleet of mid capacity city buses with the engine built by the firm UTC will save over the 6 period..
A firm is currently valued at $175 in a boom and $110 in a recession. The chance of either economic state occurring is 50 percent. The firm owes $120 to its debt holders. What is the value of the firm to the shareholders in a recession?
What was the formula value of the warrants one month ago?- What was the premium over the formula value one month ago?
You find a certain stock that had returns of 13 percent, −12 percent, 25 percent, and 21 percent for four of the last five years. The average return of the stock over this period was 12.16 percent. What was the stock’s return for the missing year?
Find the arbitrage profit (in terms of Canadian dollars) per television according to absolute PPP.
Sadik industries must install $1 million of new machinery in its Texas plant. It can obtain a bank loan for 100% of the required amount. Alternatively, a Texas investment banking firm that represents a group of investors believes it can arrange for a..
Calculate the percentage of amount due for each month.- If the firm had $1,572,000 in credit sales over the four-month period, compute the average collection period.
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