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Percy Motors has a target capital structure of 45% debt and 55% common equity, with no preferred stock. The yield to maturity on the company's outstanding bonds is 8%, and its tax rate is 40%. Percy's CFO estimates that the company's WACC is 13.40%. What is Percy's cost of common equity? Round your answer to two decimal places.
A business wants to raise $1.2 million by selling some coupon bonds at par. Comparable bonds in the market have a 6.5 percent annual coupon, 15 years to maturity, and are selling at 97.687 percent of par. What coupon rate should be set on its bond..
The manager notes that only the $21,000 payment of the 27th has cleared the bank. What is the company's ledger balance and available balance with its bank?
Tulley Appliances, projects next year's sales to be $20 million. Current sales are at $15 million based on current assets of $5 million and fixed assets of $5 million.
Based on the Gordon Growth Model, compute the anticipated market price of stock that is paying dividends at a constant growth rate of 6.25%, with the recent dividend of $1.00, and the required return rate of 15%.
Following are the present value factors for $1 discounted at 8 percent for 1 to 5 periods. Each of the following items is based on 8 percent interest compounded yearly.
An investment advisor forecasts yearly dividends for Safe Energy Corporation as given below. If the stock can be presently purchased for $50.00,
The given trial balance was prepared for Gifts, Etc. on Dec. 31, 2010, after the closing entries were posted. Gifts etc. had the following transactions in 2011.
Briefly describe the major differences between a sole proprietorship and a corporation
Tina, age fifty is an accountant. She earns $50,000 a year. After consulting with you, she concludes that she can live on 70 percent of her current salary if she were to retire today.
Rockwell paper company had earnings after taxes of $580,000 in the year 2003 with 400,000 shares of stock outstanding. On January 1, 2004, the firm issued 35,000 new shares. Calculate earnings per share for year 2004.
The exercise price on one of ORNE Corporation's call options is $35 and the price of the underlying stock is $34. The option will expire in 55 days. The option is currently selling for $0.25.
The Altman Corporation has a debt ratio of 33.33%, and it requires to increase $100,000 to expand. Management feels that an optimal debt ratio would be 16.67%.
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