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1. Taggart Transcontinental has issued at par a zero-coupon bond with a ten-year maturity. Investors believe there is a 10% chance that Taggart Transcontinental will default on these bonds. If they do default, investors expect to receive only 50 cents per dollar they are owed. If investors require an 8% return on their investment in these bonds, then the yield to maturity on these bonds will be closest to (assume annual compounding):
A. 6.05% B. 7.15% C. 8.56% D. 8.00%
2. A newly issued 20-year maturity, zero-coupon bond is issued with a yield to maturity of 8.4% and face value $1,000. Find the imputed interest income in the first, second, and last year of the bond's life. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
Kyle Corporation is comparing two different capital structures, an all-equity plan (Plan I) and a levered plan (Plan II).
you are the manager of a non-union steel mill that must operate 24-hours a day and where the physical demands are such
Information about three securities appears below. Assuming interst and dividens are paid annually, calculate the annual holding period return on each security.
Argus Equipment Corp. has just issued fixed rate debt at 9.75 percent. Yet, it prefers to convert its financing to incur a floating rate on its debt. It engages in a three-year interest rate swap in which it swaps variable rate payments of LIBOR plus..
Assume that the default probability for a company in a year, conditional on no earlier defaults is X and the recovery rate is R. The risk-free interest rate is 5% per annum. Default always occur half way through a year.
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If your tax rate is 34 percent and your required return on this project is 12 percent, what bid price should you submit on the contract?
Calculate Fields and Struthers’ investment in operating capital for 2018. Calculate Fields and Struthers’ free cash flow for 2018.
What is the price of Platinum Water Shipping stock expected to be in 2 years. The stock is expected to pay annual dividends forever.
You purchased a machine for $ 1.08$1.08 million three years ago and have been applying? straight-line depreciation to zero for a? seven-year life.
If a firm takes actions that reduce its days sales outstanding (DSO), then, other things held constant, this will lengthen its cash conversion cycle (CCC).
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