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The trustee of the Spratt Trust has the discretion to distribute the income or corpus of the trust in any proportion between the two beneficiaries of the trust, Edwin and Dolly. Under the trust instrument, Edwin must receive $20,000 from the trust every year. In the current year, the trust’s accounting income is $100,000, and its DNI is $90,000. In addition to the required $20,000, the trustee pays Edwin $30,000 and Dolly $50,000. What amount income is recognized by the beneficiaries as the result of the distributions? Round any division to three decimal place and use in subsequent computations. a. Edwin: $ b. Dolly: $
A firm currently has no debt. The firm has 15 million shares outstanding and those shares currently have a market price of $25 per share. The firm is contemplating selling $50 million in bonds and using the proceeds to repurchase shares of stock. do ..
Harrelson Inc. currently has $715,000 in accounts receivable, and its days sales outstanding (DSO) is 71 days. It wants to reduce its DSO to 35 days by pressuring more of its customers to pay their bills on time. If this policy is adopted, the compan..
Suppose that you will receive the annual payments of 10000 for a period of 10 years. The first payment will be made 4 years from now. if the interest rate is 5% what is the present value of the stream of payments.
Choose a publicly traded company and perform an expanded analysis on the financial statements. Horizontal and vertical analysis of the income statements for the past three years (all yearly balances set as a percentage of total revenues for that year..
Joe Blow has written a payroll program for her company to use and has made a mistake in the code. He has computed the gross pay by dividing the hours worked by the hourly rate instead of multiplying the two amounts. What is this mistake called?
Adding which of the following to the analysis of a proposed project will increase the NPV of that project? 1. option to expand 2. option to wait 3. option to abandon 4. Options to expand, wait, and abandon
(Computing interest tax savings) Dharma Supply has earnings before interest and taxes (EBIT) of $556,000, interest expenses of $322,000 and faces a corporate tax rate of 36 percent. What is Dharma Supply's net income? What are the firm's interest tax..
Common stock X pays a dividend of $100 at the end of the first year, with each subsequent annual dividend being $10 more than the preceding one. Alice purchases the stock at a theoretical price to earn an expected annual effective yield of 10%. Immed..
Compute the Payback statistic for Project X and recommend whether the firm should accept or reject the project with the cash flows shown below if the appropriate cost of capital is 10 percent and the maximum allowable payback is 5 years.
Consider a project to supply 110 million postage stamps per year to the U.S. Postal Service for the next five years. You have an idle parcel of land available that cost $2,000,000 five years ago; if the land were sold today, it would net you $2,200,0..
Grandview Clinic has fixed costs of $2 million and an average variable cost rate of $15 per visit. Its sole payer, an HMO, has proposed an annual capitation payment of $150 for each of its 20,000 members. Past experience indicates that the population..
An all-equity business has 100 million shares outstanding selling for $20 a share. Management believes that interest rates are unreasonably low and decides to execute a leveraged recapitalization ( a recap). It will raise $1 billion in debt and repur..
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