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Unlike common stocks, preferred stocks pay a fixed dividend. Suppose a share of preferred stock pays a fixed dividend of $4 a year forever. If it sells for $80, what must be the discount rate? Please show your work.
Suppose your firm is considering two mutually exclusive, required projects with the cash flows shown below. The required rate of return on projects of both of their risk class is 10 percent. Project A s Cash flow from year 0 to year 3: -1000, 400, 40..
An interest rate swap has 3 years of remaining life. Payments are exchanged annually. Interest at 3% is paid and 12-month LIBOR is received. A exchange of payments has just taken place. The 1 year, 2 years and three years LIBOR/swap zero rates are 2%..
Cameron Industries is purchasing a new chemical vapor depositor in order to make silicon chips. It will cost $6 million to buy the machine and $10,000 to have it delivered and installed. The machine is expected to have a working life of six years. Sa..
An assignable loan contract executed 3 months ago requires two payments of $3,900 plus interest at 9% from the date of the contract, to be paid 4 and 8 months after the contract date. The payee is offering to sell the contract to a finance company in..
Today, the stock price of VALE S.A. (based in Brazil) is priced at BRL 13 per share. The spot rate of the Brazilian Real (BRL) is $.25. During the next year, you expect that the stock price of Vale to Increase by 10%. You also expect that the BRL wil..
The Lo Sun Corporation offers a 6.0 percent bond with a current market price of $809.50. The yield to maturity is 8.24 percent. The face value is $1,000. Interest is paid semi-annually. How many years is it until this bond matures?
Provincial imports has assembled 2015 financial statement income and balance sheet and financial projections for use in preparing financial plans for the coming year 2016. Prepare a pro forma for year ended December 31 2016 using fixed cost data to i..
Nancy Marchand purchased a put option on British pounds for $.04 per unit. The strike price was $1.80 and the spot rate at the time the pound option was exercised was $1.59. Assume there are 31,250 units in a British pound option. What was Nancy’s ne..
Contrast the different effect on short-term exchange rates of an increase in domestic real output under the BOP approach and the Monetary approach.
Microtech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Microtech to begin paying dividends, beginning with a dividend of $1.50 coming 3 years from toda..
Moore contracted in writ- ing to sell her 2012 Hyundai Santa Fe to Hammer for $16,500. Moore agreed to deliver the car on Wednesday, and Hammer promised to pay the $16,500 on the following Friday. Moore contended that Hammer’s repudiation released he..
money market securities are debt securities that have a one year or less maturity and are issued by the treasury
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