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The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 7,500 Assets $ 15,800 Debt $ 6,300 Costs 5,410 Equity 9,500 Net income $ 2,090 Total $ 15,800 Total $ 15,800 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year’s sales are projected to be $9,075. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) External financing needed $
The T-bill rate is 7%. You estimate that a passive portfolio invested to mimic the S&P 500 stock index yields an expected rate of return of 13% with a standard deviation of 25%. In Figure 1, draw the CML and your fund's CAL on an expected return/s..
Integrated Waveguide Technologies, Inc. (IWT) is a 6 year old company founded by Hunt Jackson and David Smithfield to exploit met material plasmatic technology to develop and manufacture miniature microwave frequency directional transmitters and rece..
Profit margin = 8.8 % Capital intensity ratio = .49 Debt-equity ratio = .64 Net income = $ 99,000 Dividends = $ 46,000 Required: Based on the above information, calculate the sustainable growth rate for Northern Lights Co
A project will increase annual sales by $144,000 and cash expenses by $95,000 for four years. The project has an initial cost of $102,000 for equipment that will be depreciated using MACRS depreciation. The applicable MACRS table values are .1429, .2..
You’re considering investing in a project with the following characteristics: Compute the NPV of the project if the tax rate is 0% per year. Is the IRR in this case higher or lower than 20%?
Joe Latte completed a business plan and determines that it will take $120,000 to open the coffee and gelato shop. He has $30,000 of his own money and will have to obtain $90,000 in loans or grants. How should Joe go about getting financing. What is t..
Sports Corp has 11.7 million shares of common stock outstanding, 6.7 million shares of preferred stock outstanding, and 2.7 million bonds. If the common shares are selling for $26.7 per share, the preferred share are selling for $14.2 per share, and ..
Suppose that TNT, Inc. has a capital structure of 43 percent equity, 23 percent preferred stock, and 34 percent debt. If the before-tax component costs of equity, preferred stock and debt are 15.4 percent, 10 percent and 7 percent, respectively, what..
Pace Corporation had a taxable income of $300,000 in 2007. Which of the following expression may be used to compute the federal income tax liability for the company?
Hilltop Paving has a levered equity cost of capital of 14.92 percent. The debt-to-value ratio is .4, the tax rate is 34 percent, and the pretax cost of debt is 7.2 percent. What is the estimated unlevered cost of equity?
A company you are researching has common stock with a beta of 1.35. Currently, Treasury bills yield 2.5%, and the market portfolio offers an expected return of 11.5%. What is the required return on this common stock?
You are considering the purchase of one of two machines used in your manufacturing plant. Machine A has a life of two years, costs $110 initially, and then $155 per year in maintenance costs. Machine B costs $180 initially, has a life of three years,..
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