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Your firm successfully issued new debt last year, but the debt carries covenants. Specifically, you can only pay dividends out of earnings made after the debt issue and you must maintain a minimum quick (acid-test) ratio left parenthesis Current Assets minus Inventory right parenthesis divided by Current Liabilities(Current Assets?Inventory)/Current Liabilities of 1.1. Your net income this year was $69.9 million. Your cash is $10.2 million, your receivables are $8.1 million, and your inventory is $4.6 million. You have current liabilities of $19.5 million. What is the maximum dividend you could pay (in cash and in stock) this year and still comply with your covenants?
The maximum dividend would be_______ $ million. (Round to one decimal place.)
Drexler Company is contemplating the replacement of one of its machines with a newer and more efficient one. Should the firm accept the replacement project?
Convert the annual cash flow to Dollars before discounting and give your answer in Dollars.
Your firm would like to buy a car. The car costs $300,000. The dealer is willing to lease you the car for $50,000 a year. Alternatively you could borrow at 10 percent before tax and purchase the car. Assume that the car will be depreciated straight-l..
Suppose Arnell pays interest of 9% per year on its debt. What is its annual interest tax shield?- What is the present value of the interest tax shield, assuming its risk is the same as the loan?
Bond P is a premium bond with an 7.2 percent coupon, a YTM of 5.95 percent, and 15 years to maturity. Bond D is a discount bond with an 7.2 percent coupon, a YTM of 8.95 percent, and also 15 years to maturity. If interest rates remain unchanged, what..
Two different names of the market risk are systematic risk or _____ risk. We measure the market risk of a stock using _____.
What can be said about first-order autocorrelation given the Durbin-Watson value of 1.8911 calculated from the three factor model residuals?
How does manager A's efficient frontier relate to B's? What general statements can you make when comparing the efficient frontiers? ?
Assuming the market is in equilibrium, what does the market believe will be the stock's price at the end of 3 years (i.e., what is )?
You bought an annuity selling at $12,131.06 today that promises to make equal payments at the beginning of each year for the next 6 years (N).
Broussard Skateboard's sales are expected to increase by 25% from $8.0 million in 2013 to $10.00 million in 2014. Its assets totalled $4 million at the end of 2013. Broussard is already at full capacity, so its assets must grow at the same rate as pr..
How much will you have if you wait 10 years before beginning to save and only make 35 payments into your retirement? account?
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