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An originally un-levered firm issued 5 year fixed-coupon bonds one year ago. The bonds' yield to maturity and coupon rate remain unchanged since last year. The bonds are rated BBB+ by S&P and Baa1 by Moodys. The yield curve is currently flat, unchanged since last year. Which of the following statements about the firm's cost of debt is NOT correct?The firm's cost of debt (before tax) can be calculated by finding:
a.The firm's interest expense over the past year (from P&L) divided by the bonds' market capitalisation (from balance sheet) one year ago.
b.The bonds' yield to maturity based on the traded market price, coupons and face value.
c.An average of similarly levered firms' senior bonds' yields to maturity, where the similar firms issued senior bonds and junior loans.
d.An average of similarly levered firms' interest expense over the past year divided by their debt market cap one year ago.
e.An average of similarly rated bonds' yields to maturity.
ABC's the most recent free cash flow (FCF0) is $200 million. The free cash flow is expected to grow at a rate of 40 percent in next year and 20 percent.
Discuss the importance and difficulties of identifying germ cell mutagens and their consequences.
A corporation can have so much financial leverage that it finds it difficult to obtain additional credit. To reduce this problem a corporation may lease.
What is included in the establishment of a "functional" baseline? "allocated" baseline? "product" baseline? Why is baseline management important?
You have just taken over as a fund manager at a brokerage firm.
To do so, you plan to make deposits of $1,250 per year- with the first payment being made a year from today-into a bank account that pays 12% annual interest.
The company had a 40% dividend payout ratio in 2008. If Bowles wants to maintain this payout ratio in 2009, what will be its per-share dividend in 2009?
A company has beginning inventory of $28,000 and ending inventory of $61,000. If the COGS is $158,000, determine how many days the average item is in stock.
What are examples of unusual or dysfunctional costing information that has been seen and/or decisions made using that costing information?
Renfro Rentals has issued bonds that have a 12% coupon rate, payable semiannually. The bonds mature in 19 years, have a face value of $1,000, and a yield to maturity of 10%. What is the price of the bonds? Round your answer to the nearest cent.
Assuming 365 days, what is the nominal and effective cost of trade credit under the credit terms of 4/15, net 30? Round to two decimal places.
Receivables are currently $15M on credit sales of $120M Credit sales are expected to grow by 20% next year. Calculate next year's ending receivables balance (make calculations using ending balances and a 360 day year).
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