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Maggie's Muffins Bakery generated $2,000,000 in sales during 2016, and its year-end total assets were $1,300,000. Also, at year-end 2016, current liabilities were $1,000,000, consisting of $300,000 of notes payable, $500,000 of accounts payable, and $200,000 of accruals. Looking ahead to 2017, the company estimates that its assets must increase at the same rate as sales, its spontaneous liabilities will increase at the same rate as sales, its profit margin will be 4%, and its payout ratio will be 50%. How large a sales increase can the company achieve without having to raise funds externally—that is, what is its self-supporting growth rate? Do not round intermediate calculations. Round your answers to the nearest whole.
You own a portfolio that has $2,300 invested in Stock A and $3,300 invested in Stock B. If the expected returns on these stocks are 8 percent and 11 percent, respectively, what is the expected return on the portfolio?
A project produces annual net income of $11,500, $13,700, and $16,900 over the three years of its life, respectively. The initial cost of the project is $257,000. This cost is depreciated straight-line to a zero book value over three years. What is t..
"Starting with last week's introduction to valuation and continuing with this week's topic on discounted cash flow valuation, we learned that one of the key variables in determining the value of any cash flow is the interest rate (sometimes referred ..
The firm has two divisions, divisions A and B, each with the same level of risk. The firm’s after-tax cost of capital is 16%. The firm’s EBIT was $900,000 last year. The B division had an EBIT of $300,000. The tax rate is 30%. What was the A division..
Under what conditions do options investments become more appealing or less appealing? Did derivatives cause the recession?
Lessee Santi contracts for three leases of three machines for six months: lease A, lease B and Lease C. Each lease is non-cancelable and each machine reverts to the lessor at the end of the lease term. Assuming that the minimum lease payments are ma..
Quetzalcoatl and Tonantzin each take out a 17-year loan of $L. Quetzalcoatl repays his loan using the amortization method, at an annual effective rate of i. He makes an annual payment of $500 at the end of each year.
The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 7,500 Assets $ 15,800 Debt $ 6,300 Costs 5,410 Equity 9,500 Net income $ 2,090 Total $ 15,800 Total $ 15,800 Ass..
Describe how to conduct financial transactions and navigate the legal issues of electronic commerce
An investment of $83 generates after-tax cash flows of $44.00 in Year 1, $72.00 in Year 2, and $127.00 in Year 3. The required rate of return is 20 percent. The net present value is what?
Fish Inc., an exempt organization, reports unrelated business taxable income of $500,000 (excluding the deduction for charitable contributions). During the year, Fish makes charitable contributions of $54,000, of which $38,000 are associated with the..
James Corporation is considering the credit application of a customer. The customer is expected to buy $5000 worth of material from James every month in future, and pay for it within a month.
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