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TechNo Corp is a rapid-growth IT firm. TechNo expects to grow at 25% for the next four years. After year four, growth will moderate at 4.75% and TechNo will pay a dividend of $3.25 per share in year five. If TechNo’s required return is 13.2% and the stock is currently selling at $45.77 per share, is the stock fairly valued? If not, by how much is it over- or under-valued?
The stocks of Microsoft and Apple have a correlation coefficient of 0.6. The variance of Microsoft stock is 0.4 and the variance of Apple stock is 0.3. What is the covariance between the two stocks?
Treasury bond with the longest maturity (30 years) has an ask price quoted at 97:19. The coupon rate is 3.00 percent, paid semi annually. What is the yield to maturity of this bond?
ou buy a share of The Ludwig Corporation stock for $23.80. You expect it to pay dividends of $1.08, $1.17, and $1.2675 in Years 1, 2, and 3, respectively, and you expect to sell it at a price of $30.64 at the end of 3 years. Calculate the growth rate..
Prairie Manufacturing has four possible suppliers, all of which offer different credit terms. Except for the differences in credit terms, their products and services are virtually identical. Calculate the approximate cost of giving up the cash discou..
Which of the following statements about opportunity costs is incorrect?
You need to save $50,000 in 10 years from today. You want to make annual payments at the end of each year into a sinking fund that will earn interest at an annual rate of 10 percent. What will the annual payments have to be? Suppose that the borrower..
With a 10% interest rate, calculate the present value of the following streams of cash flow. Suppose you deposit $100 at the end of each year for three years in an account paying 8%. What is the present value of the cash flow stream? (Equal Cash Flow..
The price of HighTech (HT) stock is $534.25. Your broker tells you that you could buy a European call option on HT with a strike price of $750 and 325 days until maturity for $54. Your research indicates that the standard deviation of HT’s stock retu..
The next dividend payment by Wyatt, Inc., will be $2.90 per share. The dividends are anticipated to maintain a growth rate of 4.75 percent, forever. If the stock currently sells for $49.40 per share, what is the required return?
You just paid $354,000 for a policy that will pay you and your heirs $12,600 a year forever. What rate of return are you earning on this policy?
Why does a bankrupt firm under Chapter 11 generally require its bondholders to convert their debt to equity of the company after the reorganization?
Great Wall Pizzeria issued 12-year bonds one year ago at a coupon rate of 6.9 percent. If the YTM on these bonds is 9.1 percent, what is the current bond price?
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