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A 30-year maturity bond making annual coupon payments with a coupon rate of 12% has duration of 11.54 years and convexity of 192.4. The bond currently sells at a yield to maturity of 8%. What is the price of the bond if its yield to maturity increases to 10%?
A firm has $500 million of assets that includes $50 million of cash and 10 million shares outstanding. The firm uses $50 million of its cash to pay dividends. If an investor has 1000 shares, how many shares must he sell to create a homemade dividend ..
Your firm has an average receipt size of $60. A bank has approached you concerning a lockbox service that will decrease your total collection time by 1 day. You typically receive 25,000 checks per day. The daily interest rate is 0.016 percent. What i..
Breakeven cash inflows The One Ring Company, a leading producer of fine cast silver jewelry, is considering the purchase of new casting equipment that will allow it to expand its product line. If One Ring requires a 9% return on its investment, what..
The stock of Chocolate Galore is expected to produce the following returns, given the various states of the economy. What is the expected return on this stock?
Municipal bonds are currently offering investors a 6% return and corporate bonds with the same maturity and default risk are offering investors an 8% return. What is the after-tax return on municipal bonds for an investor in the 30% tax bracket?
Barton Industries expects next year's annual dividend, D1, to be $2.50 and it expects dividends to grow at a constant rate g = 4.1%. The firm's current common stock price, P0, is $22.10. What is the cost of new common equity considering the estimate ..
Which of the following bonds has a comparatively higher yield to maturity?? Select one: a. ?A one-year bond with a 6.7 percent interest today b. ?A three-year bond with a 5 percent interest today c. ?A two-year bond with a 4 percent interest today d...
Which of the following is a disadvantage of a private placement when compared to other methods of selling new securities?
Suppose that Texas Trucking (TT) has earnings per share of $3.55 and EBITDA of $55 million. TT also has 6 million shares outstanding and debt of $200 million (net of cash). OLT has a P/E of 13.5 and an enterprise value to EBITDA multiple of 8. Based ..
Bob is 20 years old today and is starting to save money, so that he can get his MBA. He is interested in a 1-year MBA program. Tuition and expenses are currently $20,000 per year, and they are expected to increase by 5% per year. Bob plans to begin h..
Amortization with Equal Payments [LO 3] Prepare an amortization schedule for a three-year loan of $81,000. The interest rate is 8 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loa..
North Pole Cruise Lines issued preferred stock many years ago. It carries a fixed dividend of $9 per share. With the passage of time, yields have gone down from the original 10% to 8%. What was the original issue price? What is the current value of t..
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