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A radio station runs a promotion at an auto show with a money box with 15 $100 tickets, 10 $50 tickets, and 12 $25 tickets. The box contains an additional 20 "dummy" tickets with no value. Three tickets are randomly drawn. Find the probability that all three tickets have no value.
The probability that all three tickets drawn have no money value is
Suppose a project will increase revenues by $300,000 a year. Cost of goods sold averages 40% of revenues. Other overhead operating costs will increase by $12,000 due to the project. Depreciation for the new project will be $30,000 annually. The firm ..
A convertible security may be tendered for shares of common stock in the issuing firm. In other words, the bonds or preferred stock may be converted to common stock. Result in new capital for the firm. Do not result in new capital for the firm.
Apocalyptica Corporation is expected to pay the following dividends over the next four years: $6, $12, $17, and $3.25. Afterward, the company pledges to maintain a constant 5 percent growth rate in dividends, forever. If the required return on the st..
A company has 1,000 shareholders who own a total of two million shares of its common stock currently selling at $88.00 per share. The company earned $14,000,000 after taxes. The annual dividend is $0.60 per share. The firm has assets of $132,000,000 ..
A 2.90 percent coupon municipal bond has 13 years left to maturity and has a price quote of 96.55. The bond can be called in four years. The call premium is one year of coupon payments. Compute the bond’s current yield. Compute the yield to maturity.
A floater/inverse floater is created on $30,000,000 of principal from a pool of 8% FRMs (assume payments are made annually). Half is allotted to the floater class and half to the inverse floater. If the market rate decreases by 2.5% in the next perio..
A stock has had returns of −19.1 percent, 29.1 percent, 25.2 percent, −10.2 percent, 34.9 percent, and 27.1 percent over the last six years. What are the arithmetic and geometric returns for the stock?
Infinity Designs, an interior design company, has experienced a drop in business due to an increase in interest rates and a corresponding slowdown in remodeling projects. Calculate the impact of the exhibit on company profit.
A firm has a capital structure with $100 million in equity and $100 million of debt. The cost of equity capital is 14% and the pretax cost of debt is 8%. If the marginal tax rate of the firm is 30%, compute the weighted average cost of capital of the..
J&S Inc. just paid a $1.50 dividend which is expected to increase $.25 per share per year for the next 5 years. You plan to sell the stock in year 3 at an estimated price of $25 per share. What is the stock worth today (r=8%)?
A 20-year, 10 percent semiannual coupon bond, with a par value of $1,000 sells for $1,200 (assume that the bond has just been issue today). What is the bond's yield to maturity? What is the bond's current yield?
Security F has an expected return of 10 percent and a standard deviation of 26 percent per year. Security G has an expected return of 17 percent and a standard deviation of 58 percent per year. We form a portfolio composed of 30 percent of security F..
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