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1. Randy is 70 ½ on September 1st of this year and must receive a minimum distribution from his qualified plan. The account balance has a value of $384,800 at the end of last year. The distribution period for a 70-year-old person is 27.4 and for a 71-year-old person is 26.5. If Randy takes his first required distribution next April 1st of next year, what is the amount of the required minimum distribution?
$5,419.72
$14,520.75
$5,497
$14,043.80
2. Jake works for the Los Angeles Public School System. His annual salary (9-month contract) is $54,000. Before the start of the school year, he elects to defer $4,000 to his 403(b). How much FICA tax will be automatically withdrawn from his paycheck?
7.62% of $50,000
6.2% of $54,000
7.62% of $54,000
6.2% of $50,000
A proposed project has fixed costs of $83,000 per year. What is the new degree of operating leverage?
The current market price is $250 per share, and you have $22,000 of your own to invest. You borrow an additional $22,000 from your broker at an interest rate of 6% per year and invest $44,000 in the stock. What will be your rate of return if the pric..
Wilson’s is reviewing a project with an internal rate of return of 13.09 percent and a beta of 1.42.
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Consider a 3-month European put option on a non-dividend-paying stock, Price the put with binomial trees.
Winter Time Adventures is going to pay an annual dividend of $2.86 a share on its common stock next year. This year, the company paid a dividend of $2.75 a share. The company adheres to a constant rate of growth dividend policy. If the current stock ..
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Estimate the PE ratio for a firm which has the following characteristics:
The share price of a stock is 25 today. Calls and puts on the stock have the following quotations. Identify and explain three errors in the quoted option prices.
Miller Ltd is considering changing its capital structure from 100% equity to 80% equity (i.e. 20% debt relative to total assets) by repurchasing and cancelling shares. The number of shares outstanding are currently 10,000, but will drop to 8,000 afte..
Could I Industries just paid a dividend of $1.30 per share. The dividends are expected to grow at a 15 percent rate for the next 5 years and then level off to a 6 percent growth rate indefinitely. If the required return is 12 percent, what is the val..
Assume that a raiologist group practice ahs the folloiwng cost structure. Fixed costs: $500,000; Variable cost per procedure: $25; Charge (revenue) per procedure: $100. Furthermore, assume that the group expects to perform 7,500 procedures in the com..
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