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Fargo Memorial Hospital has annual net patient service revenues of $14.4 million. The hospital's patient accounts manager estimates that 10 percent of third party payers pay on Day 30, 60 percent pay on Day 60, and 30 percent pay on Day 90. a. What is Fargo's average collection period? (Assume 360 days per year throughout this problem.) b. What is the firm's current receivables balance? c. What would be the firm's new receivables balance if a newly proposed electronic claims system resulted in collecting from third-party payers in 45 and 75 days, instead of in 60 and 90 days? d. Suppose the firm's annual cost of carrying receivables was 10 percent. If the electronic claims system costs $30,000 a year to lease and operate, should it be adopted? (Assume that the entire receivables balance has to be financed.) Please show all formulas and calculations used to derive the answers.
The Morris Corporation has $600,000 of debt outstanding, and it pays an interest rate of 9% annually. Morris's annual sales are $3 million, its average tax rate is 40%, and its net profit margin on sales is 8%. If the company does not maintain a TIE ..
Given the following information for Sookie’s Cookies Co., calculate the depreciation expense:
If the next semiannual coupon payment is due in two months, what is the invoice price?
Although the world economy is much more integrated today than was the case 10 or 20 years ago, a variety of barriers still hamper free movements of people, goods, services, and capital across national boundaries. Legal restrictions. Excessive transpo..
McGilla Golf has decided to sell a new line of golf clubs. The length of this project is seven years. The company has spent $1919288 on research and development for the new clubs. The plant and equipment required will cost $28608439. The new clubs wi..
A project has an initial cost of $35,000 and a four-year life. The company uses straight-line depreciation to a book value of zero over the life of the project. The projected net income from the project is $1,100, $1,300, $1,600, and $1,800 a year fo..
What are the economic functions that financial intermediaries perform that benefit society? In your answer, discuss the relationship of financial intermediaries and financial markets to the savings-investment process within an economy and to each oth..
You are comparing two investment options that each pay 6 percent interest, compounded annually. Both options will provide you with $12,000 of income. Option A pays $2,000 the first year followed by two annual payments of $5,000 each. Option B pays th..
What is your estimate of the stock's current price?
On March 31, Adolpha, Inc. reported the following information on its financial statements. What is the available net working capital for Adolpha, Inc.?
If you require an "effective" annual interest rate (not a nominal rate) of 9.6%, how much should you be willing to pay for the bond?
A stock price is currently $100. Over each of the next two six-month periods it is expected to go up by 13% or down by 7%. The risk-free interest rate is 6%. What is the risk-neutral probability that the stock price will increase each period?
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