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Times-Interest-Earned Ratio The Morris Corporation has $600,000 of debt outstanding, and it pays an interest rate of 9% annually. Morris's annual sales are $3 million, its average tax rate is 40%, and its net profit margin on sales is 6%. If the company does not maintain a TIE ratio of at least 3 to 1, then its bank will refuse to renew the loan and bankruptcy will result. What is Morris's TIE ratio? Round intermediate calculations to two decimal places. Round your answer to two decimal places.
Stock A has an expected return of 13% and a standard deviation of 35%. Stock B has an expected return of 19% and a standard deviation of 60%. The correlation coefficient between Stocks A and B is 0.2. What is the expected return of a portfolio invest..
What does the empirical evidence on the consumption-smoothing benefits of UI indicate about the degree to which individuals are, on average, insured against the income losses associated with unemployment?
What are the primary problems or issues the FASB attempts to address regarding accounting for derivative financial instruments?
The following question has two parts and pertains to the yield curve. Suppose on February 6, 2007, the following information is available from the Treasury spot curve: What are three ways the yield curve changes or moves? How are these three changes ..
What is the 95% VaRfor the following portfolio given that you know Mu(dr) = 0 and sigma(dr) = 0.3876%? 1 unit of 4.75-year, 6.9% coupon bond paying semiannually. Note, for the dollar amount invested in each part of this portfolio, use the price of ..
Suppose home owners owe $5.5 trillion in mortgage loans. If the mortgage interest rate is 5 percent, approximately how much are home owners paying in annual mortgage interest? $? If the interest rate drops to 4 percent, by how much will annual intere..
lectronic Timing, Inc. (ETI), is a small company founded 15 years ago by electronics engineers Tom Miller and Jessica Kerr. How will this proposal affect the stock price? How will it affect the value of the company? How will a share repurchase affect..
A 9-year bond pays interest of $26.60 semiannually, has a face value of $1,000, and is selling for $742.25. What are its annual coupon rate and yield to maturity?
A bond with a $1,000 par value has an 8 percent annual coupon rate. It will mature in 4 years, and annual coupon payments are made at the end of each year. Present annual yields on similar bonds are 6 percent. What should be the current price?
A 30-year corporate bond sold to investors at par ($1000) with a 10 percent coupon rate is called sixteen years later at a 12 percent call premium. At the time of call, prevailing rates on comparable securities were 8 percent. If the bond's holder re..
Find the following values for a single cash flow:
Why is it important to calculate the value of your estate periodically?- Beyond the will, what does estate planning involve?
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