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The Danville Company is considering a $50 million expansion (capital expenditure) program next year. The company wants to determine approximately how much additional financing will be needed if the expansion program is undertaken. Next year the company expects to earn $25 million after interest and taxes. The company also plans to increase its dividends from $5 million to $7 million. If the expansion program is accepted, the company expects working capital requirements to increase by approximately $8 million next year. Long-term debt retirement obligations total $3 million next year and depreciation is expected to be $13 million. No fixed assets are expected to be sold next year. a. $30 million b. $43 million c. $32 million d. $22 million 1
If the bonds coupon rate is greater than the general interest rates in the market, the Bond will sell at a:
The firm currently has 1 million shares outstanding at $ 20 per share. (Tax rate = 40%) What is the firm's optimal debt ratio?
A testing agency needs to purchase $40,000 worth of equipment 2 years from now. How much should the agency put aside each quarter to make the purchase using an interest rate of 20% per year, compounded quarterly?
A premium bond that pays $60 in interest annually matures in seven years. The bond was originally issued three years ago at par. Which one of the following statements is accurate in respect to this bond today?
Explain the trade-off between retaining internally generated funds and paying the cash dividends. Which of these does your company (BD-Becton Dickinson and Company) do? From what financial statement did you get this information? Explain the dividend ..
Determine the value of a call option on the JPY that has the following characteristics: (a) it is of type European (b) it matures in 9 months (c) the strike price is USD 0.010. In the spot market the JPY is trading at USD 0.008. The US and Japanese i..
It is the responsibility of management to apply accounting standards when communicating with investors and creditors through financial statements. How might an auditor's ethics be challenged while performing an audit?
A bank is quoting the following exchange rates against the dollar for the Swiss franc and the Australian dollar: SFr/$ = 1.5960—70 (Note: this translates to Bid 1.5960 and Ask 1.5970, apply the same logic to quote below) A$/$ = 1.7225--35 An Australi..
A company makes apple butter to supply local vendors. The manufacturing company can make 330 pounds of apple butter per day and demand from vendors in 190 pounds per day. Each time the manufacturing company makes apple butter, it costs $176 to set up..
What are some of the government requirements imposed on a public corporation that are not imposed on a private, closely held corporation?
Suppose you are a U.S.-based investor, and you would like to diversify your stock portfolio internationally.What advantages do ADRs offer you?Would it be wise to restrict your international portfolio only to ADRs?
Sunburn Sunscreen has a zero coupon bond issue outstanding with a $20,000 face value that matures in one year. The current market value of the firm's assets is $21,700. Based on the Black-Scholes moel, what is the market value of the firm's equity an..
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