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1. A 10-year maturity mortgage-backed bond is issued. The bond is a zero-coupon bond that promises to pay $10,000 (par) after 10 years. At issue, bond market investors require a 15 percent interest rate on the bond. What is the initial price on the bond? (A)
(A) $2,252
(B) $2,472
(C) $8,696
(D) $10,000
2. A 25-year maturity mortgage-backed bond is issued. The bond has a par value of $10,000 and promises to pay an 8 percent annual coupon. Assume that 20 years after the bond is issued, bond market investors require a 15 percent interest rate on the bond. What is the market price of the bond? (C)
(A) $6,835
(B) $6,863
(C) $7,653
(D) $14,270
Before month-end adjustments are made, the September 30 trial balance of Horton Enterprise contains revenue of $9,200 and expenses of $6,500. Calculate the correct net income for Horton’s for September.
The AZ Company currently has $1,000,000 in physical assets that have always generated a steady stream of earnings for the company. The management of the firm has always paid all of its earnings to shareholders as a dividend. What is the required rate..
ABC Corp. has just paid a dividend of $0.26. ABC has an annual required return of 12%. If dividends are annual and expected to be constant, what is the intrinsic value (fair price) of ABC stock? What is ABC's dividend yield? A different analyst think..
Depository institutions typically differentiate between interest and noninterest income and expense. What are the primary components of each? Define net interest income (NIM) and burden. What does a bank's efficiency ratio measure?
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All of the following statements concerning the AMT as it applies to individual taxpayers are correct, EXCEPT:
Suppose that the interest rate on a taxable corporate bond is 5.20 percent and that your marginal tax rate is 32 percent.
Utilizing workshop readings, the workshop devotional, and your own online research, write a three-page paper, not including your title page and reference page, answering the following questions from the perspective of the Chairman of the Board at a f..
Leon Corporation has authorized 400,000 shares of $1 par value common stock, Prepare the entries using T accounts, as necessary, for each of the three dates.
A firm pays a $1.50 dividend at the end of year one (D1), has a stock price of $80 (P0), Compute the required rate of return (Ke).
You have just purchased an investment that generates the following cash flows for the next four years. You are able to reinvest these cash flows at 8.08 percent, compounded annually. How much is this investment worth today? What is the present value ..
A lathe costs $30,000 and is expected to have a 7 year life. The lathe will be depreciated straight line over 7 years to an estimated salvage value of $2,000. This machine is expected to reduce the firm’s cash operating costs by $5,500 per year. If t..
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