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Dexter Corp. will pay a dividend of $1.44 next year. The company has stated that it will maintain a constant growth rate of 5.4% a year, forever. A. If you want a return of 13%, how much should you pay for the stock? B. What is the expected capital gain yield for this stock? C. What is the dividend for year 7? D. What is the price of the stock at t=6 Please show calculations and equations.
MGM Grand said it plans to eventually buy back up to 20% of its shares (from stockholders) and announced a tender offer for half of them at a 31% premium (over the market price). Provide a rationale for the stock repurchase.
Penn Medical Center, a for-profit hospital, is considering the purchase of a new 64-slice CT scanner. The cost of the new scanner is $4 million and will be depreciated over 10 years on a straight line basis to $0 savage value. The tax rate is 40%. Th..
Before-tax cost of debt and after-tax cost of debt: David Abbot is interested in purchasing a bond issued by Sony. He has obtained the following information on the security.
1. explain in your own words when and how the composition of capital the mix of debt and equity does not affect the
Read the Focus on Ethics box (“Psst! Have You Heard Any Good Quarterly Earnings Forecasts Lately?”). Explain what quarterly earnings guidance is, and what purpose it is supposed to serve. If you were a corporate CEO, would you discontinue this practi..
Two years ago the Krusty Krab Restaurant purchased a grill for $50,000. The owner, Eugene Krabs, has learned that a new grill is available that will cook Krabby Patties twice as fast as the existing grill. If the Krusty Krab's opportunity cost of cap..
A Treasury bond futures contract settles at 105'8. What is the present value of the futures contract in dollars? Calculate the implied annual interest rate on the futures contract? Calculate the new value of the futures contract if interest rates inc..
At an output level of 47,000 units, you calculate that the degree of operating leverage is 3.10. The output rises to 53,000 units. What will the percentage change in operating cash flow be? (Round your answer to 2 decimal places. (e.g., 32.16)) Will ..
You have just received notification that you have won the $2.13 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you’re around to collect), 67 years from now. What is the present value..
Harper’s Dog Pens, Inc., with the help of its investment bank, recently issued $194.3 million of new debt. The offer price on the debt was $1,000 per bond and the underwriter’s spread was 5 percent of the gross proceeds. Calculate the amount of capit..
Michael De Santa was always on what he called the seafood diet. Most thought it meant he only ate fish. What it actually meant was he saw food and he ate it “the see food diet.” This is why the Los Santos Restaurant Division reported to him. The divi..
Every two weeks a mortgage payment is made that is exactly one half of the traditional monthly mortgage payment. The APR is 6.1 on a $35,000,000 30 year note. How long would it take to pay off the smart loan? Why is this shorter than the time needed ..
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