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1. Fatima works as a sales representative and travels frequently. Her unreimbursed travel expenses for the year include: $2,700 for airfare, $1,450 for lodging, $110 for dry cleaning while away from home, $206 for taxi fare, and $574 for meals. What are her deductible travel expenses?
1) $4,356 2) $4,643 3) $4,753 4) $5,040
2. Wild Berry (WB) will remain in business for one more year. At the end of next year, the firm will generate a liquidating cash flow of $370M in a boom year and $150M in a recession year; both states are equally likely. The cost of equity for the unlevered firm is rU = 10%. The firm’s outstanding debt matures in a year and has a market (and book) value of $150M today. The interest payment on this debt is $15M at the end of next year. The corporate tax is τc = 35%. Corporate taxes is the only relevant market imperfection
If the discount rate for the interest tax shield is rITS = 5%, the value of the interest tax shield (PV (ITS)) is:
(A) $ 2.5M
(B) $ 5.0M
(C) $ 6.0M
(D) $ 7.5M
What is the difference between an open-end mutual fund and a closed-end fund? What is an exchange-traded fund (ETF)? How does an ETF differ from a closed-end fund?
What are the more likely alternatives for you to borrow $70 million? If you decide to issue debt securities,
Kenny, Inc., is looking at setting up a new manufacturing plant in South Park. The company bought some land six years ago for $7.7 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent fac..
Future Value At age 25 you invest $1,800 that earns 9 percent each year. At age 30 you invest $1,800 that earns 12 percent per year. In which case would you have more money at age 60? Trying to save time on my exam by learning how
What is the firm's horizon, or continuing, value? What is the firm's intrinsic value today, P^0?
What is the profitability index of project 4? Which project ranked first? What is the optimal combination of projects?
If interest rate parity holds, what is the 6-month forward exchange rate?
What is the amount a person would have to deposit today to be able to take out $5000 a year for 10 years from an account earning 8 percent annually?
Geothermal Corporation issued a press release before the stock market opened announcing that its earnings are above last year’s earnings. Explain how each of the following individual scenarios could be consistent with the semi-strong form of market e..
Standard Bloke Limited wants to issue new 20-year bonds for some much-needed expansion projects for their cement company in the Northern part of the country.
KADS, Inc., has spent $350,000 on research to develop a new computer game. The firm is planning to spend $150,000 on a machine to produce the new game. Shipping and installation costs of the machine will be capitalized and depreciated; they total $45..
Regulations in the United States prohibit acquiring firms from using common stock to purchase another firm. Defensive mergers are designed to make a company less vulnerable to a takeover.
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