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Anne Teak, the financial manager of a furniture manufacturer, is considering operating a lock-box system. She forecasts that 350 payments a day will be made to lock boxes with an average payment size of $2,500. The bank’s charge for operating the lock boxes is $0.30 a check. The interest rate is 0.012% per day. a. If the lock box makes the cash available 2 days earlier, calculate the net daily advantage of the system. (Do not round intermediate calculations.) b. Is it worthwhile to adopt the system? Yes No c. What minimum reduction in the time to collect and process each check is needed to justify use of the lock-box system? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Based on Black-Litterman optimization, you obtained an optimal portfolio which invests 70% and 40% funds in stocks A and B and short-sells 10 percent of stock C. However, you are only 80% confident about your opinion. When the market capitalization o..
What is the capital allocation problem? According to the efficient diversification, what should be the optimal solution to the capital allocation problem?
Calvin sells stock several years after he received it as a distribution from a qualified stock bonus plan. When the stock was distributed, he has a new unrealized appreciation of $7,500. Calvin also had ordinary income from the distribution of $29,00..
The interest rate for one-year certificate of deposit at Citibank in New York is 4 percent while the interest rate for one-year certificate of deposit at Barclay Bank in London is 6 percent. The value of the British pound against the dollar one year ..
If the total value of the assets of the accounting entity is $4,350,000 and the total liabilities of the accounting entity are $1,235,000 the stockholders' equity in the accounting entity is?
Future value-annuity versus annuity due-What's the future value of a 4%, 5-year ordinary annuity that pays $800 each year?
In 2015, Loftis, Inc., a calendar year taxpayer, has QPAI of $1.75 million and taxable income of $1.3 million. Because Loftis outsources much of its work to independent contractors, its W–2 wage base, which for Loftis is related entirely to productio..
Operating income is not affected by: a. depreciation b. cost of goods sold c. rent payments d. interest earned advantages of the corporation form of business include:
A manager receives a forecast for next year. Demand is projected to be 580 units for the first half of the year and 990 units for the second half.
Twice Shy Industries has a debt−equity ratio of 1.4. Its WACC is 9.4 percent, and its cost of debt is 6.7 percent. The corporate tax rate is 35 percent. What is the company’s cost of equity capital? What is the company’s unlevered cost of equity capi..
To help finance a major expansion, Castro Chemical Company sold a noncallable bond several years ago that now has 10 years to maturity. If the firm's tax rate is 40%, what is the component cost of debt for use in the WACC calculation? Assume you can ..
You buy a car today for $29,000. If you finance it with a 6% APR, 4 year loan, what is the difference in your payments if you agree to pay at the beginning of each month rather than at the end? Assume monthly compounding.
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