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A person earned the following returns for the last four years: –30%, 40%, 15%, and 7%. Which is incorrect? Remember, the historical variance is the sum of the squared deviations divided by (n-1). c. The average return is 8%. d. The variance is 0.08393. b. The standard deviation is 28.97%. a. You can’t determine the variance since you have no probabilities.
Break-even Financing. Lakeland, Inc., is a U.S.-based MNC with a subsidiary in Mexico. Its Mexican subsidiary needs a one-year loan of 10 million pesos for operating expenses. Since the Mexican interest rate is 70 percent, Lakeland is considering b..
A certain convertible bond has a conversion ratio of 35 and conversion premium of 13%. The current market price of the underlying common stock is $31. What is the bond's conversion equivalent?
Research Case—Delinquent Taxes. When property taxes become delinquent, governmental entities often accrue interest and penalties on the delinquent taxes or choose to sell the rights to collect such taxes, interest, and penalties to exter-nal parties.
Both bond A and bond B have 8.2 percent coupons and are priced at par value. Bond A has 6 years to maturity, while bond B has 18 years to maturity. a. If interest rates suddenly rise by 1 percent, what is the percentage change in price of bond A and ..
let's say you buy a 12% coupon (paid semi-annually), AA-rated, $1000 par value coupon bond for $1100 when it has 16 years left until it's maturity. You re-invest the coupons at an annual rate of 6% and sell the bond off after 6 years, when its yield ..
A saver wants $100,000 after ten years and believes that ist is possible to earn an annual rate of 8 percent on invested funds. What amount must be invested each year to accumulate $100,000 if... a.) the payments are made at the beginning of each yea..
Carson Electronics is currently considering whether to ac-quire a new materials-handling machine for its manufacturing operations. The machine costs $ 760,000 and will be depreciated using straight- line depreciation toward a zero salvage value over ..
Tapley Inc. currently has total capital equal to $10 million, has zero debt, is in the 40% federal-plus-state tax bracket, has a net income of $3 million, and pays out 40% of its earnings as dividends. What is the stock's current price per share. Ass..
Consider two all-equity financed firms (Bright Prospect and Past Glory), both with book value per share of $10, both with market capitalization rate of 15% and earning retention ratios of 0.6. Bright Prospect has an ROE of 20%. Calculate the price of..
Fyre, Inc., has a target debt−equity ratio of 1.40. Its WACC is 8.3 percent, and the tax rate is 38 percent. If the company’s cost of equity is 15 percent, what is its pretax cost of debt? If instead you know that the aftertax cost of debt is 3.9 per..
Your Office Supply has a $42,500 line of credit that charges an annual percentage rate of prime rate plus 3%. Their starting balance on March 1 was $10,600. On March 5, they borrowed $7,500. On March 14, the business made a payment of $3,300, and on ..
Mr. Greg is considering another bond, Bond D. It has an 8% semi-annual coupon and a $1,000 face value. Bond D is scheduled to mature in 9 years and has a price of $1,150. It is also callable in 5 years at a call price of $1,040. What is the bond’s YT..
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