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Assume that interest rate parity holds. In the spot market 1 Japanese yen = $0.011, while in the 180-day forward market 1 Japanese yen = $0.0112. 180-day risk-free securities yield 1.2% in Japan. What is the yield on 180-day risk-free securities in the United States? Round your answer to 2 decimal places. Do not round intermediate calculations.
Consider the following three stocks: a. Stock A is expected to provide a dividend of $10 a share forever. b. Stock B is expected to pay a dividend of $5 next year. Thereafter, dividend growth is expected to be 4% a year forever. c. Stock C is expecte..
You find a certain stock that had returns of 14 %, -27 %, 19 %, and 21 % for four of the last five years, respectively. The average return of the stock over this period was 9.5 %. What is the standard deviation of the stock's returns?
You are given the following information concerning Parrothead Enterprises: Debt: 10,900 7.4 percent coupon bonds outstanding, with 21 years to maturity and a quoted price of 108.75. These bonds pay interest semiannually. Common stock: 320,000 shares ..
A firm is considering purchasing an asset that will cost? $1 million. Other depreciable costs include? $100,000 in installation costs. If the asset is classified in the 3−year ?class, what is the annual depreciation for each year for this asset using..
Your oldest daughter is about to start kindergarten at a private school. Tuition is $10,000 per year, payable at the beginning of the school year. You expect to keep your daughter in private school through high school. What is the present value of th..
A 30-year maturity bond with face value of $1,000 makes semiannual coupon payments and has a coupon rate of 10%. What is the bond’s yield to maturity if the bond is selling for $1,060? What is the bond’s yield to maturity if the bond is selling for $..
Stock Y has a beta of 1.3 and an expected return of 13 percent. Stock Z has a beta of 0.75 and an expected return of 10.5 percent. If the risk-free rate is 4.5 percent and the market risk premium is 7 percent, are these stocks correctly priced?
Suppose that Tan Lotion's common shares sell for $18 per share, are expected to set their next annual dividend at $1.00 per share, and that all future dividends are expected to grow by 7 percent per year, indefinitely. If Tan Lotion faces a flotation..
You manufacture wine goblets. In mid-June, you receive and order for 10,000 goblets from Europe. Payment of €400,000 is due in mid-December. You expect the €uro to rise from its present rate of $1=€1.5, to a rate of $1=€1.4 by December. You can borro..
Hank purchased a $23,700 car three years ago using a 10 percent, 6-year loan with monthly payments. He has decided that he would sell the car now, if he could get a price that would pay off the balance of his loan. What's the minimum price Hank would..
How does the size of the change in a bond's price react in response to a given change in the yield to maturity as the time to maturity increases? Which one of the following statements is correct concerning Macaulay duration? A bond has a face value o..
Determine the Sawyer's taxable income for 2016. Disregard self-employment taxes for Kate. Assume the couple paid $4,400 in state income taxes and files a joint return. The Sawyers would like to use the method for determining deductible home office ex..
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