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Which of the following statements is most correct?
A. If a bond's Yield to Maturity exceeds its coupon rate, the bond's current yield must also exceed its coupon rate. If a bond's Yield to Maturity exceeds its coupon rate, the bond's current market price must also exceed its maturity value.
B. If two bonds have the same maturity, the same yield to maturity, and the same level of risk, the bonds should sell for the same price regardless of the bond's coupon rate.
C. The first two answers are correct, but not the third.
D. All three of the first three answers are correct.
A warrant is a long-term option from a company that gives the holder the right to buy a stated number of shares of the firm’s stock at a specified price for a specified length of time. What is the total value of the warrants and the value of each war..
A proposed new investment has projected sales of $837,000. Variable costs are 57 percent of sales, and fixed costs are $187,610; depreciation is $97,000. Assume a tax rate of 35 percent. What is the projected net income?
The average unlevered beta of publicly traded Sodium Chlorate businesses is 0.94. Assume zero debt beta. The target capital structure that is appropriate for Collinsville plant is 35% debt and 65% equity. Assume a risk-free rate of 9.5% and market ri..
The current price of a stock is $84, and three-month European call options with a strike price of $85 currently sell for $4.20. An investor who feels that the price of the stock will increase is trying to decide between buying 100 shares and buying 2..
Elaborate on the concepts of governance, accountability, transparency in companies. Ascertain that you include the interaction of owners, management and Board of Directors. Furthermore, mention the Sarbanes /Oxley act.
The Timberlake-Jackson Wardrobe Co. has 10.6 percent coupon bonds on the market with ten years left to maturity. The bonds make annual payments. Required: If the bond currently sells for $1,152.27, what is its YTM?
Liberty Company has declared a $40,000 cash dividend to shareholders. The company has 5,000 shares of $20-par, 6% preferred stock and 10,000 shares of $15-par common stock. The preferred stock is cumulative. How much will be distributed to the prefer..
Your firm is considering leasing a new robotic milling control system. The lease lasts for 5 years. The lease calls for 6 payments of $300,000 per year with the first payment occurring at lease inception. The system would cost $1,050,000 to buy and w..
The Dakota Corporation had a 2015 taxable income of $33,500,000 from operations after all operating costs but before (1) interest charges of $8,600,000; (2) dividends received of $760,000; (3) dividends paid of $5,300,000; and (4) income taxes. What ..
This caused the company to default on several contracts for rolling cabinets as it ran out of casters before it could secure replacements for the defective ones. Cabinet Co. was able to replace the casters at a 15% increase in cost.
Suppose you purchase a call option on 100 shares of XYZ stock for $6 per share. The option has an exercise price of $40 per share and the stock is currently selling for $50 per share. What is your total profit or loss on the option investment?
Dome Metals has credit sales of $450,000 yearly with credit terms of net 45 days, which is also the average collection period. Assume the firm adopts new credit terms of 2/18, net 45 and all customers pay on the last day of the discount period. If Do..
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