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1. Hurricane Corp. recently purchased corporate bonds in the secondary market with a par value of $11 million, a coupon rate of 12 percent (with annual coupon payments), and four years until maturity. If Bullock intends to sell the bonds in two years and expects investors' required rate of return at that time on similar investments to be 14 percent at that time, what is the expected market value of the bonds in two years?
2. A $1,000 par value bond, paying $50 semiannually, with an 8 percent yield to maturity and five years remaining to maturity should sell for
3. Because of a change in the required rate of return from 11 percent to 13 percent, the bond price of a zero-coupon bond will fall from $1,000 to $860. Thus, the bond price elasticity for this bond is
4. The required rate of return on a certain bond changes from 12 percent to 8 percent, causing the price of the bond to change from $900 to $1,100. The bond price elasticity of this bond is
Marie and Bob Houmas purchased 208 shares of General Electric stock for $24 a share. One year later, they sold the stock for $31 a share. They paid their broker a $132 commission when they purchased the stock and a $154 commission when they sold it. ..
Describe the competition in the overnight package delivery industry, and the strategies by which those two firms are meeting the competition. What are the enabling and inhibiting factors facing the two firms as they pursue their goals? Do you think t..
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this section provides the opportunity to develop your course project. conducting an internal environmental scan or
What APR is being earned on a deposit of $5,000 made 10 years ago today if the deposit is worth $9,948.94 today? The deposit pays interest semi-annually.
Jiminy’s Cricket Farm issued a bond with 15 years to maturity and a semiannual coupon rate of 10 percent 4 years ago. The bond currently sells for 91 percent of its face value. The company’s tax rate is 38 percent. What is the company’s total book va..
A borrower is faced with choosing between two loans. Loan A is available for $75,000 at 10% MEY for 30 years, with 6 points included in the closing costs. Loan B would be made for the same amount, but for 11% MEY for 30 years, with 2 points included ..
What does the term "INTEREST RATE INVERSION" refer to? For the past several years, the Federal Reserve System has forced short-term interest rates to nearly zero. Why has it not been able to do the same for long-term interest rates? Explain.
You own a portfolio that is 27 percent invested in Stock X, 42 percent in Stock Y, and 31 percent in Stock Z. The expected returns on these three stocks are 12 percent, 15 percent, and 17 percent, respectively. What is the expected return on the port..
A Canadian airline, Biggles Air, just bought a new plane for five million dollars. It’s a Class 9 asset, which means that Revenue Canada considers it to depreciate at 25% per annum. What is the after-tax present worth of the salvage price Biggles Air..
What is the impact on your recommendation of the fact that the operating cash inflows associated with Press A are characterized as very risky in contrast to the low-risk operating cash inflows of Press B?
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