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Ethan purchases a house for $250,000. He borrows $200,000 from StarCross Bank and gives the bank a mortgage on the house for this amount. StarCross Bank fails to record the mortgage. Ethan then applies to borrow $200,000 from Pentalon Bank. Pentalon Bank reviews the real estate recordings and finds no mortgage recorded against the property, so it lends Ethan $200,000. Pentalon Bank records its mortgage. Later, Ethan defaults on both loans. In this case, which of the following would be true in case of the foreclosure, if possible, on the collateral?
A. StarCross Bank can foreclose because they made the first loan.
B. Pentalon Bank can foreclose because they made a record of the mortgage.
C. The collateral has to be returned to Ethan since there is a violation of the recording statute.
D. None of the parties involved can claim ownership of the collateral as it passes into the public domain
Calculate and compare the risk (betas) of the following investments: In each case assume that the exercise price of the option is $430, a share of Google stock; a one-year call option on Google; a one-year put option; In each case assume that the exe..
Calculate the theoretical value of the forward contract. Compare and comment and calculate the value of the option by using the BlackOScholes formula.
You have accumulated some money for your retirement. You are going to withdraw $98,190 every year at the beginning of the year for the next 29 years starting from today. How much money have you accumulated for your retirement? Your account pays you 6..
Hankins, Inc., is considering a project that will result in initial aftertax cash savings of $6.5 million at the end of the first year, and these savings will grow at a rate of 3 percent per year indefinitely. What is the maximum cost the company wou..
Banana Box Corporation has sales of $4370130; income tax of $397323; selling, general, and administrative expenses of $290597; depreciation of $378588; cost of goods sold of $2784698; and interest expense of $127186. Calculate the amount of the firm'..
Dave has $20,000 excess cash to invest. He can purchase a $20,000 T-bill for $19,400 or two $10,000 T-bills for $9,600 each. Which will give him the better return?
uppose John short sells (=writes) Apple put option to Mary. Is this identical to John buying Apple call option from Mary? Please explain in detail why they are the same or different. A company enters into 5 long January futures contracts of wheat. Th..
A project has the following estimated data: price = $79 per unit; variable costs = $46.61 per unit; fixed costs = $5,600; required return = 12 percent; initial investment = $6,000; life = six years. Ignore the effect of taxes. What is the cash break-..
An investment has an installed cost of $576,382. The cash flows over the four-year life of the investment are projected to be $205,584, $249,318, $197,674, and $165,313. If the discount rate is zero, what is the NPV? If the discount rate is infinite..
Compute the economic schedule for the month assuming all three units are on-line all the time and that the coal must be consumed.
Explain how a linear breakeven chart is constructed when a firm's selling price, variable costs per unit, and fixed costs are known.
Regulation D of the Securities Laws Contains three rules relating to exempt securities. The three rules are 504, 505 and 506. Please explain the similarities and differences among these three rules
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