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Times-Interest-Earned Ratio
The Morrit Corporation has $450,000 of debt outstanding, and it pays an interest rate of 10% annually. Morrit's annual sales are $3 million, its average tax rate is 25%, and its net profit margin on sales is 5%. If the company does not maintain a TIE ratio of at least 3 to 1, then its bank will refuse to renew the loan, and bankruptcy will result. What is Morrit's TIE ratio? Do not round intermediate calculations. Round your answer to two decimal places.
One of the basic financial principles is that the value of any asset (whether it be a stock, a bond, or a firm as a whole) is the present value of that asset's.
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A No-growth Forecast and a Simple Valuation (Easy) An analyst calculates residual operating income of$35.7 million from financial statements for 2012.
Term life insurance is considered "pure insurance." Personal risk management is a systematic process of identifying, evaluating, and managing pure risk exposures faced by an individual.
Explain why you think that would be the case, and whether you think that would be the appropriate rate for the economic environment of that time.
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Both projects have a 10 percent cost of capital. Calculate the EAA for both projects and explain your rationale in selecting the best project.
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