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You are approached about purchasing a share of common stock in a company that will definitely go out of business exactly 2 years from today. The company is anticipated to pay a $10 dividend one year from now and a $15 divined two years from now (immediately before it goes out of business). What price are you willing to pay for the stock if the required rate of return on the stock is 5%?
Johnny Cake Ltd. has 8 million shares of stock outstanding selling at $20 per share and an issue of $40 million in 8 percent annual coupon bonds with a maturity of 16 years, selling at 90.5 percent of par. Assume Johnny Cake’s weighted-average tax ra..
A firm has a market value equal to its book value. Currently, the firm has excess cash of $7,700 and other assets of $27,300. Equity is worth $35,000. The firm has 700 shares of stock outstanding and net income of $3,500. What will the stock price pe..
McDowell Industries sells on terms of 3/10, net 20. Total sales for the year are $1,256,500; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 80 days after their purchases. What is the days' sales outs..
A small business owner visits his bank to ask for a loan. The owner states that he can repay a loan at $1,500 per month for the next three years and then $500 per month for two years after that. If the bank is charging customers 8.5 percent APR, how ..
What is the value of a 10-year, $1,000 par value bond with a 10% coupon paid semi-annually if its required rate of return is 10%? What would its value be if, just after it had been issued, the expected inflation rate rose by 3% causing investors to r..
A convertible bond has a 6 percent coupon, paid semi-annually, and will mature in 18 years. If the bond were not convertible, it would be priced to yield 5 percent. The conversion ratio on the bond is 30 and the stock is currently selling for $39 per..
The future earnings, dividends, and common stock price of Carpetto Technologies Inc. are expected to grow 8% per year. Carpetto's common stock currently sells for $20.50 per share; its last dividend was $1.50; and it will pay a $1.62 dividend at the ..
Managers should make use of the interest tax shield if the firm has
The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,405,000, $141,000 in the common stock account and $2,660,000 in the additional paid-in surplus account. What was the firm’s operating cash flow during 2014?
In 1895, the first U.S. Open Golf Championship was held. The winner’s prize money was $150. In 2010, the winner’s check was $1,350,000. What was the percentage increase per year in the winner’s check over this period? (Do not round intermediate calcu..
Discuss the difference between book values and market values and explain which one is more important to the financial manager and why.
What is the bonds nominal annual coupon interest rate - What is the liquidity premium (LP) on Niendorf's bonds - what is the present value of the cash flow stream
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