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What is the estimated price change, as a percentage, for this bond if the market interest rate declined by 20bp? (Round your answer to 2 decimal places, use a negative sign for price decrease. If your answer was a price decrease of a tenth of a percent, enter -0.10)
(Hint, first calculate modified duration)
2 year bond with annual payments
Par value $1000
10% coupon
9% discount rate
The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,430,000, $146,000 in the common stock account and $2,710,000 in the additional paid-in surplus account. The firm’s net capital spending for 2014 was $1,020,000, and the..
Your firm has an average collection period of 29 days. Current practice is to factor all receivables immediately at a 1.25 percent discount. What is the effective cost of borrowing in this case? Assume that default is extremely unlikely
Sarah is the sole owner of Bluegrass Corporation. The basis and value of her stock investment in Bluegrass are approximately $100,000. In addition, she manages Bluegrass's operations on a full-time basis and pays herself an annual salary of $40,000.
FARO Technologies, whose products include protable 3D measurement equipment, recently had 17 million shares outstanding trading at $42 a share. Suppose the company announces its intention to raise $200 million by selling new shares. What percentage o..
FFDP Corp. has yearly sales of $28 million and costs of $12 million. The company’s balance sheet shows debt of $54 million and cash of $18 million. There are 950,000 shares outstanding and the industry EV/EBITDA multiple is 7.5. What is the stock pri..
ABC corporation has a below average profit margin and a below average total asset turnover, yet their VP of Accounting claims the firm's ROE is above average! Which of the following is correct?
According to David Vogel, which of the following should a firm be most cautious about when engaging in CSR activities? Employees may become over-indulgent in activities related to social causes. Attrition levels may rise due to indifference among emp..
Mr. Jones has a 2-stock portfolio with a total value of $530,000. $205,000 is invested in Stock A and the remainder is invested in Stock B. If standard deviation of Stock A is 17.10%, Stock B is 8.60%, and correlation between Stock A and Stock B is –..
Another unit of measure for evaluating risk and is used to provide a more meaningful basis for comparing expected returns when the two investments differ is the
A recommended technique to ensure the accuracy of translation a company’s documents into other languages. Which of the following countries had the highest per capita GDP (ppp)? There are five identifiable stages in the evolution of marketing across ..
A year ago the Euro was trading for 1.357 USD per Euro. Today the Euro is trading at 1.125 USD per Euro. if a German investor bought an ounce of gold a year ago for $1300 and sold it today for $1200 how many Euros would he have today? Did the change ..
Elliott Company sold one T-Bill futures contract when the quoted price was 93.25. When the position was closed out, the price of the T-Bill futures contract was 94.12. Did interest rates increase or decrease? How do you know? What was Elliott’s profi..
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