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Broussard Skateboard's sales are expected to increase by 15% from $7.2 million in 2015 to $8.28 million in 2016. Its assets totaled $3 million at the end of 2015. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2015, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 7%, and the forecasted payout ratio is 55%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Round your answer to the nearest dollar. Do not round intermediate calculations.
A firm issues a bond at par value. Shortly thereafter, interest rates fall. If you calculate the coupon rate, coupon yield, and yield to maturity for this bond after the decline in interest rates, which of the three values is highest and which is low..
Dupree Funds is considering the fees charged by two banks. First America charges a flat rate of $0.11 per payment and First Western requires a balance of $500,000 (that does not pay interest to Dupree foods), plus $.05 per payment. What is the number..
Of the 4 cash flow reporting methods provided, which method is used in the following scenario? Scenario: Assumptions • Item: The proposal is for the purchase of a new MRI machine • Cost: The machine costs $1,500,000.
You are evaluating a proposed expansion of an existing subsidiary located in Switzerland. The cost of the expansion would be SF 22 million. The cash flows from the project would be SF 6.0 million per year for the next five years. The going rate on Eu..
Prepare a brief report (3–5 paragraphs) on how equity financing compares to debt financing. What factors need to be considered when choosing an appropriate method? What advantages/disadvantages exist with each type?
Kermit is considering purchasing a new computer system. The purchase price is $129477. Kermit will borrow one-fourth of the purchase price from a bank at 10 percent per year compounded annually. The loan is to be repaid using equal annual payments ov..
Computer World Inc. paid out $46 million in total common dividends and reported $365.8 million of retained earnings at year-end. The prior year's retained earnings were $256.1 million. What was the net income?
Consider the following asset and liability structures: Asset: $10 million in a one-year, fixed-rate commercial loan $5 million in a 6 month Treasury bill. Liability: $10 million in a three-month CD $5 million in a 6 month CD. Calculate each bank’s th..
Suppose there are two states of nature in the future. In the asset market, there are the two contingent claims, one for each state. There’s a third security with payoffs x=(4,2). What is the payoff matrix X of the asset market? Is the market complete..
Your broker commented that well-managed firms are better investments than poorly managed firms. As evidence, your broker cited a recent studying examining 100 small manufacturing firms that eight years earlier had been listed in an industry magazine ..
The yield rate on a one year zero-coupon bond is currently 7% and the yield rate on a 2 year zero coupon is currently 8%. The treasury plans to issue a two year bond with a 9% annual coupon, maturing at $100 par value. Determine the yield to maturity..
Assume the following: Payment #1 totals $1,600 ($1,200 principal and $400 interest expense); Payment #2 totals $1,600 ($1,300 principal and $300 interest expense); and the remaining principal balance before these two payments is $50,000. If the amort..
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