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Hank Corp.'s common stock currently sells for $29 per share. The most recent dividend (Do) was $2.75, and the expected growth rate in dividends per year is 3%. The cost of common equity, Re, is ____%. Round your final answer to 2 decimal places (example: enter 12.34 for 12.34%), but do not round any intermediate work in the process.
Consider a 9-month American call option on a fictitious stock BlackIce with strike price $20. Current spot price is both $20. A continuously compounded ri sk-free interest rate is 2% and a continuously compounded dividend is 2%. Estimate the price of..
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..
Futures contracts on gold are based on 100 troy ounces and priced in dollars per troy ounce. Assume the January gold contract settled today (in December) at 1285.10 and opened at 1284.60. The April contract settled at 1285.30 and opened at 1285. You ..
Find total cost, total revenue and total profit.
Airborne Airlines Inc. has a $1,000 par value bond outstanding with 30 years to maturity. The bond carries an annual interest payment of $108 and is currently selling for $940. Airborne is in a 30 percent tax bracket. Compute the yield to maturity on..
Calculate the sensitivity of the OCF to changes in the quantity sold.
What is the most you would be willing to pay to purchase PRG Corporation?
A five-year project has an initial fixed asset investment of $285,000, an initial NWC investment of $25,000, and an annual OCF of −$24,000. The fixed asset is fully depreciated over the life of the project and has no salvage value. If the required re..
A stock has an expected return of 12 percent, its beta is 1.70, and the expected return on the market is 9.4 percent. What must the risk-free rate be? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places..
Imprudential, Inc., has an unfunded pension liability of $573 million that must be paid in 20 years. To assess the value of the firm’s stock, financial analysts want to discount this liability back to the present. If the relevant discount rate is 6.6..
The Cavendish Company recently issued new common stock and used the proceeds to pay off some of its short-term notes payable. This action had no effect on the company's total assets or operating income. Which of the following effects would occur as a..
A stock currently has a price of 1300. The price of a three month 1320-strike put is 81.41. The annual interest rate is 4% compounded continuously. Bob buys this put, and Rick enters into a long forward contract. In three months, Bob and Rick have th..
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