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Virginia Cicle had a credit card with Chase Bank USA. The original agreement had a binding arbitration clause and class action waiver. In 2005, Chase sent a new agreement, and Cicle was given the choice of closing her account, but she used the card again, which meant she agreed to the agreement. A dispute arose, and Cicle filed a class action suit. Chase sought to enforce the arbitration clause. The clause required her to pay for filing an arbitration action, but Chase would reimburse her for up to $500. She had to pay her own attorney’s fees. Cicle further alleged the agreement was unconscionable because Chase had superior bargaining power and the agreement was in fine print. Was the agreement unconscionable? Explain.
Midnight Hour Inc., has declared a $6.30 per-share dividend. Suppose capital gains are not taxed, but dividends are taxed at 25 percent. New IRS regulations require that taxes be withheld at the time the dividend is paid. Midnight Hour sells for $83 ..
Flynn, Inc. is considering a four-year project that has an initial outlay or cost of $80,000. The future cash inflows from its project are $40,000, $40,000, $30,000, and $30,000 for years 1, 2, 3 and 4, respectively. Flynn uses the internal rate of r..
Which of the following actions would decrease a firm's liquidity? Which of the following would normally occur if a firm increases its investment in current assets?
Suppose that everything stays the same as was presented in the original problem (for example, the costs each year, the value of the hotel under the two scenarios, and the probability of the city being awarded the franchise) except for two things: Usi..
Pierre Imports recently issued two types of bonds. The first issue consisted of 10-year straight debt with a 9 percent annual coupon. The second issue consisted of 10-year bonds with a 8 percent annual coupon and attached warrants. Discuss 3 advantag..
Present Value and Multiple Cash Flows [LO1] Investment X offers to pay you $5,200 per year for eight years, whereas Investment Y offers to pay you $7,300 per year for five years. Which of these cash flow streams has the higher present value if the di..
Project K costs $55,000, its expected cash inflows are $13,000 per year for 8 years, and its WACC is 7%. What is the project's discounted payback?
Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German company issues a bond with a par value of €1,000, 20 years to maturity, and a coupon r..
Calculate the allowable growth in the bank's assets supported by these projections. What growth rate could be supported if the bank issued additional common stock equal to 1 percent of bank assets, with the same earnings projections?
If a teacher decides to sell hs own textbook. It will retail at $275 for a new book, and he will receive a 45% royalty for each book sold. However, he will have to pay the publisher an upfront one-time book processing charge of $37,000. If the teache..
How did the provisions of Section 939A of the Dodd Frank Act alter the behavior of banks in managing their investment portfolios?
This week we discuss the operations of an insurance company. As stated before, the primary technique for risk management is transferring the risk, usually to an insurance company. Ask the risk manager of your company who provides the property insuran..
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