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Dallas Instruments has a large bond issue whose covenants require: (1) that DI' s interest coverage ratio exceeds 4.0; (2) that DI' s ratio of tangible assets to long-term debt exceeds 1.50; and (3) that cumulative dividends and share repurchases not exceed 60% of cumulative earnings since the date of the issuance of the bonds. DI has earnings before interest and taxes of $70 million and interest expense of $14 million. Tangible assets are $400 million and long-term debt is $175 million. Since the bonds were issued, DI has earned $200 million, paid dividends of $40 million, and repurchased $40 million of common stock. Is DI in compliance with its bond covenants?
gore manufacturing incurred the following costs during the year direct materials 22 per unit direct labor 14 per unit
Security A has an expected rate of return of 6%, as standard deviation of returns of 30%, a correlation coefficient with the market of -0.25, and a beta coefficient of -0.5. Security B has an expected return of 11%, a standard deviation of returns..
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