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The Manor Corporation has $700,000 of debt outstanding, and it pays an interest rate of 8 percent annually. Manor's annual sales are $3.5 million, its average tax rate is 35 percent, and its net profit margin on sales is 3 percent. If the company does not maintain a TIE ratio of at least 6 times, its bank will refuse to renew the loan, and bankruptcy will result. What is Manor's TIE ratio? Round your answer to two decimal places.
I know that I need to use the profit margin to compute net income. Then work backward to compute EBT (taxable income) by dividing net income by (1-T), but I am getting a crazy answer.
Objective type questions on Conversion price of share and bond valuation and a debenture holder can exchange a bond for 25 shares of common stock
Marc has opened a twenty-four hour fitness center in a fast growing city. Before buying the franchise and starting his new business, Marc looked at the one other fitness center currently operating in that area.
What is BBB's economic value added (EVA) for the current year?
You expect a share of stock to pay dividends of $1.10, $1.35, and $1.60 in each of the next 3 years. You believe the stock will sell for $21 at the end of the third year.
Describe the concept of "Spot-Forward pricing parity" relationship with a numerical example. Write down the implications of this for Foreign Exchange Market?
Determine how much the firm would be willing to pay to a market research firm to gain better information about future market conditions.
Other things held constant, which of the following would tend to reduce the cash conversion cycle? Answer Carry a constant amount of receivables as sales decline. Place larger orders for raw materials to take advantage of price breaks.
You have invested in 4 stocks: X, Y, Z, and Fred. Each stock's beta and the dollars you invested in each are given below. What is the beta of this 4-stock portfolio?
Corporation planning two potential projects, X and Y. In assessing the projects' risks, the corporation estimated the beta of each project versus both the company's other assets and the stock market,
Beam Inc. bonds are trading today for a price of $1,309.93 The bond currently has 20 years until maturity and has a yield to maturity of 2.51% The bond pays annual coupons and the next coupon is due in one year. What is the coupon rate of the b..
In addition, the company has a second debt issue on the market, a zero coupon bond with 9 years left to maturity; the book value of this issue is $69 million, the face value (also called par value) is $84 million, and the bonds sell for 76 percent..
Explain the objectives involved in the management of a bank's overall liquidity position and the costs to the bank of poor liquidity management.
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