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A Q-TIP Trust may be used to qualify property for the marital deduction. All the following statements concerning the requirements that must be met for an effective Q-TIP Trust are correct EXCEPT:
A. All the income must be paid to the surviving spouse, at least annually.
B. The surviving spouse may be authorized to invade the trust corpus.
C. The trust corpus may pass directly to the children of the marriage upon the death of the second spouse.
D. The surviving spouse must be given a general power of appointment over the principal at time of death.
Provide a detailed explanation for your answer. Answer only if you have a strong estate planning background.
Given the utility function U = E(r) – 0.5Aσ2 and the fact that T-bill offer a risk-free rate of 4%, what is the minimum value for the risk-aversion coefficient A where an investor prefers the T-bills to an investment returning 10% with a standard dev..
Admiral Trust Company makes an amortized loan of $47,000, to be repaid by annual end-of-year payments of $4,675 for eighteen years. In order to replenish its capital, the company will make level annual payments into a sinking fund account earning 5% ..
Quinlan Enterprises stock trades for $52.50 per share. It is expected to pay a $2.50 dividend at year end (D1 = $2.50), and the dividend is expected to grow at a constant rate of 5.50% a year. The before-tax cost of debt is 7.50%, and the tax rate is..
Suppose that the market portfolio is equally likely to increase by 24% or decrease by 8%. Security "X" goes up on average by 29% when the market goes up and goes down by 11% when the market goes down. Security "Y" goes down on average by 16% when the..
Calculate the net present value (NPV) for the following twenty-year projects. Comment on the acceptability of each. Assume that the firm has an opportunity cost of 14%.
The anticipated standard deviation of this expected NPV is $3 million, and the distribution of the project's NPV is approximately normal. What is the chance that this project will have a positive NPV at least equal to $1 million?
If an investor wanted a mutual fund that produces income that is free from federal taxation, then she should buy a _____.
Tiger Corporation purchased 1,200,000 per year. Fixed cost is $22.per order Annual carrying cost is 26.8% of its $1.67. Determine the EOQ if the conditions hold, the order cost is 0 instead of $22, the order cost is $22 but the carrying cost is $.01...
Suppose you buy a 7.2 percent coupon bond today for $1,140. The bond has 10 years to maturity. What rate of return do you expect to earn on your investment? Two years from now, the YTM on your bond has increased by 2 percent, and you decide to sell. ..
Two 150-horsepower (HP) motors are being considered for installation at a municipal sewage-treatment plant. The first costs $4,500 and has an operating efficiency of 83%. The second costs $3,600 and has an efficiency of 80%. Both motors are projected..
Assume General Electric (GE) has about 10.3 billion shares outstanding and the stock price is $37.10. Also, assume the P/E ratio is about 18.3. Calculate the approximate market capitalization for GE.
The Toy Chest pays an annual dividend of $4.80 per share and sells for $93.20 a share based on a market rate of return of 15 percent. What is the capital gains yield?
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