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Suppose a bond has a maturity of 3 years, annual coupon payments of $5, and a face value of $100.
a. If the interest rate is 4 percent, is the price of the bond higher or lower than the face value? What if the interest rate is 6 percent?
b. For what range of interest rates does the price exceed the face value? Can you explain the answer?
Your firm has an average collection period of 31 days. Current practice is to factor all receivables immediately at a discount of 1.2 percent. What is the effective cost of borrowing in this case? (Do not round intermediate calculations. Enter your a..
The (zero coupon) U.S. treasury strip maturing in one year is selling at an annual yield to maturity of 1.20 percent, which is equivalent to a price of 98.814 percent of its $1000 par value. determine the yield to maturity for a risk-free zero coupon..
Tri-County Inc. pays an annual common stock dividend of $1.80 per share. The dividend has shown a constant growth rate over the past 5 years from $1.10 to its present level. This growth trend is expected to continue. The company's dividend payout rat..
Elite Trailer Parks has an operating profit of $282,000. Interest expense for the year was $39,200; preferred dividends paid were $29,500; and common dividends paid were $40,900. The tax was $61,700. The firm has 25,800 shares of common stock outstan..
It is July and a trader buys 100 December call options with a strike price of $26. The stock price is $26.51 and the option price is $4.12. At the expiration, the stock price becomes $30.22. Calculate the option profit to the trader. Please show your..
Save Our Beaches, a NFP organization, prepared and distributed a tri-fold flyer to individuals and families at White Sands Beach, a popular beach for both residents and tourists. In addition, one segment of the flyer solicited contributions to the or..
Bill Clinton was reportedly paid $10 million to write his book "My Life". The book took three years to write. In the time he spent writing, Clinton could have been paid to make speeches. Assume that, once the book was finished, it was expected to gen..
Which of the following is the last step when using the seven-step planner to determine the required current monthly savings that will meet a future retirement income objective? calculate retirement cash flow (shortfall or surplus). identify income fr..
Suppose that Freddie's Fries has annual sales of $570,000; cost of goods sold of $445,000; average inventories of $16,000; average accounts receivable of $32,000, and an average accounts payable balance of $27,000. Assuming that all of Freddie's sale..
Define and discuss the different dimensions (or aspects) of risk in the context of corporate projects. Which is the most relevant for investors? Of these dimensions, which is the company most likely to focus on and why?
Jack purchased a new home for $75,000. He paid $20,000 down and agreed to pay the rest in 20 equal annual payments, which include the principal payment plus 9% compound interest; payments are made at the end of the year. What will the payments be?
Moordian Corporation estimates that its required rate of return is 11 percent. The company is considering two mutually exclusive projects whose after-tax cash flows are as follows: Project S CF(0) = ($3,000) CF(1) = 2,500 CF(2) = 1,500 CF(3) = 1,500 ..
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