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Straight Industries purchased a large piece of equipment from Curvy Company on January 1, 2014. Straight Industries signed a note, agreeing to pay Curvy Company $400,000 for the equipment on December 31, 2016. The market rate of interest for similar notes was 8%. The present value of $400,000 discounted at 8% for three years was $317,533. On January 1, 2014, Straight Industries recorded the purchase with a debit to equipment for $317,533 and a credit to notes payable for $317,533. On December 31, 2014, Straight recorded an adjusting entry to account for interest that had accrued on the note. Assuming no adjusting entries have been made during the year, the interest expense accrued at December 31, 2014 is closest to:
Your required rate of return is 8%. If you invest $15,000 today in a project, you will receive the following cash flows: What is the NPV of the project? What is the payback period of the project?
Kelly decided to accept the risk and purchased a high growth stock. Her returns for the past five years are 48 percent, 39 percent, -56 percent, 61 percent, and -24 percent, respectively. What is the standard deviation of these returns?
Stock Y has a beta of 1.35 and an expected return of 15 percent. Stock Z has a beta of 0.8 and an expected return of 11.8 percent. If the risk-free rate is 5.3 percent and the market risk premium is 7.8 percent, are these stocks correctly priced?
Pierce Furnishings generated $2 million in sales during 2012, and its year-end total assets were $1.4 million. Also, at year-end 2012, current liabilities were $500,000, consisting of $200,000 of notes payable, $200,000 of accounts payable, and $100,..
ElVonn, Inc., a decorative firsm issued a $1,000 bond with a coupon rate of 8 percent and 20 years to maturity five years ago. If this bond pays interest semiannually, what is the value of this bond (today) to an investor who requires an 8 percent ra..
Which of the following best exemplifies a free trade agreement?
The firm you are CEO if has a current period cash flow of 2.1 million and pays no dividend. The present value of the company’s future cash flows is $17.5 million. The company is entirely financed with equity and there are 500,000 shares outstanding. ..
A firm has a return on equity of 15%. The debt-equity ratio is 50%. The total asset turnover is 1.25 and the profit margin is 8%. The total equity is $3,200. What is the amount of the net income?
Bond J has a coupon rate of 6 percent and Bond K has a coupon rate of 12 percent. Both bonds have 15 years to maturity, make semiannual payments, and have a YTM of 9 percent. If interest rates suddenly rise by 2 percent, what is the percentage price ..
A credit default swap is essentially a
You are considering undertaking a land improvement practice that will cost you $120 per acre to establish and an additional $8 per acre to maintain over the next 10 years. Assuming a real discount rate of 4%, what is the present value of the total co..
In 2014, Mary sells for $15,000 a machine used in her business. The property was purchased on May 1, 2012, at a cost of $12,500. Mary has claimed depreciation on the machine of $4,750. What is the amount and nature of Mary's gain as a result of sale ..
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