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Two years ago your corporate treasurer purchased for the firm a 20-year bond at its par value of $1,000. The coupon rate on this security is 8 percent. Interest payments are made to bondholders once a year. Currently, bonds of this particular risk class are yielding investors 9 percent. A cash shortage has forced you to instruct your treasurer to liquidate the bond.
a. At what price will your bond be sold? Assume annual compounding.
b. What will be the amount of your gain or loss over the original purchase price?
c. What would be the amount of your gain or loss had the treasurer originally purchased a bond with a 4-year rather than a 20-year maturity? (Assume all characteristics of the bonds are identical except their maturity periods.)
d. What do we call this type of risk assumed by your corporate treasurer?
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Prepare a cash distribution plan as of September 30, 2009, showing how much cash each partner will receive if the offer to sell the assets is accepted.
US Series EE Bonds, bonds for industrial development for mas transit and qualified veterans mortgage bonds. Which should he choose for his investment? Why?
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Calculate the profitability ratios that can be computed from the above information.
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How much amortization expense will be on the consolidated financial statements for the year ended December 31, 2009 related to the acquisition of Green?
October Corporation reported net income of $46,000 in 2012. Depreciation expense was $17,000 and unrealized holding losses on temporary investments (FV-NI) were $3,000. The following accounts changed as indicated in 2012:
When questioned by the auditors, the CFO of ABC Inc. mentioned, "An asset is just an expense waiting to happen." Discuss the validity and implications of this statement.
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