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In 1989 and 1990, the Japanese company Mitsubishi Estate Co. paid the Rockefeller family $1.4 billion for an 80% stake in New York's Rockefeller center. At the time, the exchange rate was 145 yen/$. When the investor went to sell the building 5 years later, in early 1995, the exchange rate was 85 yen/$ and the property's value had decreased to $800 million.
Assume the purchase was $1.1 billion in total and that the value declines to $450 million. Suppose the investor financed the purchase with a $100 million down payment in yen and a $1 billion loan accumulating interest at the rate of 8% per annum. Since it is a zero-coupon loan, the interest on it (along with the principal) is not due and payable until the building is sold. How much has the investor lost in yen terms? In dollar terms?
Absalom Motors's 14% coupon rate, semiannual payment, $1,000 par value bonds that mature in 10 years are callable 3 years from now at a price of $1,075. The bonds sell at a price of $1,352.47, and the yield curve is flat. Assuming that interest rates..
Which of the following mortgages or mortgage related securities increase in value when interest rates go up?
A firm has earnings before interest and tax of $25380 with net income of $14220 the taxes amounted $5400 for the year. During the year the firm paid out $43800 to pay off existing debt and then later borrowed an additional $24000 what is the amount o..
A credit card company uses the average daily balance method to calculate its finance charges. Find the finance charge for the month of August (31 days) if the average daily balance for August is $417.77. The annual interest rate is 18%. July 31 Balan..
Classify each of the following events as a source of systematic or unsystematic rick and why.
Evaluate the economics of a biological emission control system and compare it to the thermal/incineration system. For the biological based treatment system, the capital cost is $100,000 with routine maintenance costing $15,000 per year for the first ..
Appex Corporation has current liabilites of 2million, a current ratio of 3.0, a quick ratio of 2.0, and cash ratio of .75. Given the informaion, answer the following about the firms liquidity: What is the value of inventory? What is the value of reci..
State of the economy Probability of the states Percentage returns Economic recession 22% -3.7% Steady economic growth 48% 6.0% Boom Please calculate it 11.4%
What would your options be when faced with the demands of an assertive CEO who expects you to "make it work" on capital budgeting /evaluation of investment opportunities. brainstorm several options.
Bigg and Talle Corporation uses the percentage-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to $5,000,000 and management estimates 2% will be uncollectible. Allowance for Doubtful Accounts prior to adjustme..
The Maryland Department of Transportation has issued 25-year bonds that make semiannual coupon payments at a rate of 10.175 percent. The current market rate for similar securities is 10.1 percent. Assume that the face value of the bond is $1,000. Wha..
Bob orleans invested $3,000. and borrowed $3,000. to purchase shares in verizon communications. At the time of his investment, verizon wa selling for $40 a share. Assuming Bob did use margin, paid a $60 total commission to buy his verizon stock and a..
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