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Which of the following are negative covenants that might be found in an indenture?
I. The firm must maintain a debt-equity ratio of .55 or less.
II. The firm cannot merge with another firm.
III. The firm cannot pledge any assets to other lenders.
IV. The firm must limit the amount of dividends it pays.
I and III only
I, II, and IV only
II, III, and IV only
I, III, and IV only
I, II, III, and IV
Issue new stock, then use some of the proceeds to purchase additional inventory and hold the remainder as cash.
The key condition for equilibrium to occur in a market is: Which of the following is a reason why the demand curve for an item would be more elastic? Without taxes, the market price per bag of apples is $5. With a $2 tax per bag of apples, buyers now..
Consider a long position in a 6-month forward contract on a 1-year coupon bond with a 8% quarterly coupon. (Note: The bond has 1-year to maturity as of t=0). Assume a face value of $1 million. Use the discount factors for August 15, 2000 in Table 5.9..
A company today issues a 15-year $1,000 bond that carries a 4.7% annual coupon rate (semi annual coupons). Find the total interest that the company expects to pay over the lifetime of the bond.
You buy a share of The Ludwig Corporation stock for $20.60. You expect it to pay dividends of $1.05, $1.15, and $1.2595 in Years 1, 2, and 3, respectively, and you expect to sell it at a price of $30.76 at the end of 3 years. Calculate the growth rat..
Suppose you just bought a 20-year annuity of $7,500 per year at the current interest rate of 10 percent per year. What is the value of your annuity today? What happens to the value of your investment if interest rates suddenly drop to 5 percent? What..
Explain whether users of financial statements should exercise caution when interpreting financial statement compliant with GAAP and explain how the choice of depreciation method affects reported profits.
A prospectus for a bond issue will normally list both the price to the public and the proceeds to the company. Capital rationing may lead to non-optimal investment decisions.
In this essay, we are going to discuss the issues of financial management in a non-profit organisation.
Compute the unit sales price at which Blake must sell its product in the current year in order to earn a budgeted target profit of £200,000 - Calculate a value in response - Unhappy about the prospect of a price increase, Blake's sales manager woul..
Do some research on Target and JC Penny. In particular, look for their most recent financial statements. Calculate a few simple ratios, like the book value per share, current ratio and net profit margin on sales. Write a description of your findings.
Camp Manufacturing currently has average inventories of 90 days and accounts receivable are typically collected in 60 days. Camp’s payables are paid 30 days after the invoice is received. The company has sales of $30,000,000. Using a 365 day year, Wh..
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