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Moon software Inc. is planning to issue two types of 25-year. noncallable bonds to raise a total of $6 million, $3 million from each type of bond. First, 3,000 bonds with a 10% semiannual coupon will be sold at their $1,000 par value to raise $3,000,000. These are called "par" bonds. Second, Original Issue Discount (OID) bonds, also with a 25-year maturity and a $1,000 par value, will be sold, but these bonds will have a semiannual coupn of only 6.25%. The OID bonds must be offered at below par in order to provide investors with the same effective yield as the par bonds. How many OID bonds must the firm issue to raise $3,000,000? Disregard flotation costs, and round your final answer up to a whole number of bonds
You have been offered a structured note that pays a variety of cash flows over the next 20 years and beyond. For the first three years $100,000 will be paid at the beginning of each year. The next two years no cash flows will be paid. The next cash f..
You have just bought a 5 year 10% annual coupon bond with a par value of $1000 at a price of $963.04. Immediately after you bought the bond, the market interest rate changed to 8% per year. If the interest rate does not change from this level for the..
LEXCO Co. just agreed to a long-term deal in which it will export products to Japan. It needs funds to finance the production of the products that it will export. The products will be denominated in dollars. Should LEXCO finance its production with y..
AFN: company generates 2.0 million in sales during 2013 and its yearend total assets were 1.3 million. Also yearend 2013 current liabilities were 1.0 million consisting of 300.000 notes payable, 500,000 accounts payable and 200,000 accruals looking a..
Church Inc. is presently enjoying relatively high growth because of a surge in the demand for its new product. Management expects earnings and dividends to grow at a rate of 40% for the next 4 years, after which competition will probably reduce the g..
A pound call option with a strike price of $1.57 per pound is priced (i.e. the option premium) at $0.03 per pound. the spot price is 1.56 per pound. what is the intrinsic value of the option? what is the breakeven spot exchange rate? what is the prof..
The bid price of MassNet Corporation is 11.60 and the offer price is 12.40. Ignoring brokerage fees, an investor will have to pay $ to buy 60 of MassNet common stock directly from the dealer.
If a stock is currently priced at $40 per share and the firm’s current earnings per share is $5, what price would you pay if you forecast new earnings per share to be $6.00 and you require a rate of return for the risk taken at 13%?
A car dealership is having a sale where every car is reduced by 10% of its original value. The dealership has a tax rate of 8.2%. You have a voucher for a further reduction of 13% on the price that the car is being sold for. If your total including t..
Emily Dorsey's current salary is 85000 per year and she is planning to retire 17 years from now. She anticipated that her annual salary will increase by 4000 each year (85000 the first year, 89000 the second, 93000 the third year, and s forth) and sh..
Use the formula for simple interest to find the indicated quantity: I=PRT I=$425, P=$10,000, R=7% T=? After we solve for T, how do we figure exact number of days, weeks, months or years?
A stock is currently selling for $78 per share. A call option with an exercise price of $81 sells for $3.90 and expires in three months. If the risk-free rate of interest is 2.7 percent per year, compounded continuously, what is the price of a put op..
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