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Erna Corp. has 8 million shares of common stock outstanding. The current share price is $73, and the book value per share is $7. Erna Corp. also has two bond issues outstanding. The first bond issue has a face value of $85 million, has a 7 percent coupon, and sells for 97 percent of par. The second issue has a face value of $50 million, has an 8 percent coupon, and sells for 108 percent of par. The first issue matures in 21 years, the second in 6 years.
Suppose the most recent dividend was $4.10 and the dividend growth rate is 6 percent. Assume that the overall cost of debt is the weighted average of that implied by the two outstanding debt issues. Both bonds make semi annual payments. The tax rate is 35 percent. What is the company’s WACC?
You make a deposit of $1,000 in an account that pays interest at a rate of 12% compounded quarterly. In two years, the balance will be John won the lottery. The state offers to pay him $1 million up front or a series of 25 payments of $50,000 per yea..
Northern Pacific Heating and Cooling Inc. has a 6-month backlog of orders for its patented solar heating system. To meet this demand, management plans to expand production capacity by 50% with a $20 million investment in plant and machinery.
A company has total asset of $ 31300 and long term debt of $8600, net fixed asset is $19300 and owners equity of $21100 what is the value of net working capital.
Describe the anti-takeover strategy employed by Genzyme during the Sanofi acquisition. Discuss why each may have been employed. In your opinion, did the Genzyme strategy work?
Barry and his wife Mary have accumulated over $4 million during their 45 years of marriage. They have three children and five grandchildren. How much money can Barry and Mary gift to their children in 2008 without any gift tax liability? How much mon..
An investor has invested $250,000 in a new rental property. Her estimated annual costas are $6,000 and annual revenues are $20,000. What rate of return per year will the investor make over a 30-year period ignoring the salvage value? If the property ..
The duties of an agent to her principal are loyalty, obedience, performance and which of the following: Administrative law agencies usually have three types of authority.
One of your best individual clients is thinking about starting up a new business, and he is seeking your advice on which business form he should select. In particular, he's trying to decide whether to operate the business as a partnership or a C corp..
You are benefits consultant reviewing the disability coverage’s offered by one of your client firms. The disability plan of the firm offers provides short-term benefits equal to 100% of salary for 3 full years and long-term lifetime benefits equal to..
Mercy Hospital is considering shifting its payroll period from twice a month to monthly. Total payroll for the year is $80 million. Billings can earn 6% on its invested money. How much would the Mercy Hospital save from such a change? (Hint: Use the ..
A convertible bond has a $1,000 face value and a conversion ratio of 34. What is the conversion price?
Evaluate the financial statements and the financial position of health care institutions.
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