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Western Airline has decided to raise $5M in new equity by means of a rights offering. They have decided to issue 50,000 new shares. The stock currently sells for a rights-on price of $150 per share. If the ex-rights price is expected to be $133.33 per share, answer the following questions assuming all the rights are exercised unless otherwise stated. (a) What is the issue price? (b) How many shares are currently outstanding (before the rights issue)? (c) What percentage of the rights were actually exercised if the ex-rights price turns out to be $135.71? (d) Suppose the firm anticipates that 30% of the rights will not be exercised. What should the issue price be if the other issue terms stay the same and the firm wants to raise the same amount of money?
The accounting profession provides many career opportunities for individuals. Identify the major fields that exist in accounting and comment on the major functions performed by individuals in each of these areas.
The Acme Chip Manufacturing Company (potato not computer) has a target capital structure of 40% debt and 60% common equity. They also have a 40% tax rate. you need this to calculate the "after-tax" cost of debt! They have three projects under conside..
Using probability distribution analysis, Stock B is expected to return 15%. Stock B has a beta of 1.5, the risk free rate is 2%, and the expected return of the market is 12%. Is Stock B over priced or underpriced? Why
Last year Mike bought 100 shares of Dallas Corporation common stock for $53 per share. During the year he received dividends of $1.45 per share. The stock is currently selling for $57.75 per share. What rate of return did Mike earn over the year?
Total productive efficiency can be defined as
What is the price of WLC stock on September 23, 2009?- What is the price of WLC stock on September 23, 2010?
Your accounting firm, Pennypacker & Vandelay, LLC, has been asked by the Chairman of Harris Memorial Hospital and Harris Community Foundation to attend the annual board meeting to present the report of the Independent Auditors. The managing partner o..
During the year, X purchased land and a building for a total of $500,000 and furniture for the building for $100,000. He intends to lease the building. Each asset’s useful life as estimated by the taxpayer in light of industry standards. Salvage valu..
Internal rate of return Peace of Mind, Inc. (PMI), sells extended warranties for durable consumer goods such as washing machines and refrigerators. A consumer who purchases the 2-year warranty will pay PMI $200. On average, the repair costs that PMI ..
You anticipate that you will need $2,500,000 when you retire 40 years from now. You just joined ExxonMobil and your first annual salary is $200,000 to be received one year from today. You also received one time signing bonus of $50,000 today.
If you know that investors require a 15 percent pretax rate of return on this preferred stock, what is the current market value of this preferred stock?
Sweet Treats common stock is currently priced at $17.15 a share. The company just paid $1.22 per share as its annual dividend. The dividends have been increasing by 2.4 percent annually and are expected to continue doing the same. What is this firm's..
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