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Following data pertains to Castle State Bank. Balance Sheet: Cash 99.276, Securities 616.625, Net loans 1222.763, Net premises 290.369; Deposits 1099.277, Non-deposit borrowings 791.409, Common stock $10.024, Surplus $122.297; Income Statement: Interest Income 403.728, Interest expense 198.327, Noninterest income 50.093, Noninterest expense 98.878, Provision for loan losses 59.927, Securities gains (losses if negative) 0.813, Taxes 47.36. What is Castle State Bank's tax management efficiency ratio? Decimalize your answers, round to four decimals. E.g., if your answer is 14.445%, record it as 0.1445. Note: Undivided profits is the only item missing above; it is the item that would balance the balance sheet
On January 1, 2014, Frog Corporation sold a $2,800,000, 12 percent bond issue (6 percent market rate). The bonds were dated January 1, 2014, pay interest each June 30 and December 31, and mature in 3 years. Prepare the journal entry to record the int..
Beginning three months from now, you want to be able to withdraw $3,600 each quarter from your bank account to cover college expenses over the next four years. If the account pays .72 percent interest per quarter, how much do you need to have in your..
The Yurdone Corporation wants to set up a private cemetery business. According to the CFO, Barry M. Deep, business is "looking up." As a result, the cemetery project will provide a net cash inflow of $90,000 for the firm during the first year, and th..
Britt & Co., reported the following information at its last shareholders’ meeting: Cash and cash equivalents = $2,445,000; Accounts payables = $6,300,000 Invent
When Bill died in 2006, he left his children $200,000 in cash (generated from labor earnings), - Evaluate the argument that the estate tax represents double taxation of Bill's income.
When you were born, your grandfather established a trust fund for you in the Cayman Islands. The account has been earning interest at the rate of 10% per year. If this account will be worth $150,000 on your 25th birthday, how much did your grandfathe..
Calculate Assets J’s theoretical value of the common stock price. The equation for the Dividend Growth Model is: V = (Current Dividend * (1 + Dividend Growth)) (Required Return – Dividend Growth) where: What are some of the drawbacks using Dividend G..
Which of the following kinds of risk is NOT uniquely associated with MNCs?
Roxy and Harley (R & H) is considering a significant equipment replacement. R & H would like to replace some of their equipment before December 31, 2017.
What is the value of the portfolio today in 2013 (one year later)?
Suppose you believe that Du Pont’s stock price is going to decline from its current level of $82.50 sometime during the next 5 months. For $510.25 you could buy a 5-month put option giving you the right to sell 100 shares at a price of $83.00 per sha..
Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, What was the price of this bond when it was issued?
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