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1. A bond with a settlement date of April 30, 2013 and a maturity date of May 15, 2021 has a coupon rate of 6.7%. (bond equivalent yield, semiannual compounding),
If the yield to maturity of the bond is 6.33%, what is the list price of the bond on the settlement date? What is the accrued interest on the bond? What is the invoice price of the bond?
2. Now, if the bond in question 5 above is selling for $110, what is the bonds yield to maturity? What would the yield to maturity be at a price of $110 if the bond paid its coupons only once per year?
Test Sales, Inc. (TSI) just paid a common stock dividend of $2.50 per share. Its sales are expected to grow at a rate of 20% for the years 1 to 3, at 16% for years 4 and 5, and at 6% per year indefinitely thereafter. Dividend growth is expected to ma..
Expected Return A company's current stock price is $86.40 and it is likely to pay a $5.40 dividend next year. Since analysts estimate the company will have a 13% growth rate, what is its expected return?
Nero Violins has the following capital structure: What is the firm's asset beta? Assume that the CAPM is correct. What discount rate should Nero set for investments that expand the scale of its operations without changing its asset beta? Assume a ris..
Fly Away, Inc., has balance sheet equity of $6.6 million. At the same time, the income statement shows net income of $798,600. The company paid dividends of $403,293 and has 100,000 shares of stock outstanding. If the benchmark PE ratio is 30, what i..
An electric utility is considering a new power plant in northern Arizona. Power from the plant would be sold in the Phoenix area, where it is badly needed. Because the firm has received a permit, the plant would be legal; but it would cause some air ..
The Imaginary Products Co. currently has debt with a market value of $275 million outstanding. The debt consists of 9 percent coupon bonds (semi annual coupon payments) which have a maturity of 15 years and are currently priced at $1,054.14 per bond...
Assume the spot exchange rate is 6.22 Chinese yuan per U.S. dollar. If the inflation rate in China is expected to be double that in the U.S. for the next two years, then what will happen to the yuan in comparison to the dollar?
Klaus Toys just paid its annual dividend of $1.40. The required return is 16 percent and the dividend growth rate is 2 percent. What is the expected value of this stock five years from now?
Trigen Corp. management will invest cash flows of $1,238,006, $1,143,422, $1,487,955, $818,400, $1,239,644, and $1,617,848 in research and development over the next six years. If the appropriate interest rate is 8.12 percent, what is the future value..
Individuals performing ratio analysis include (1) banks evaluating potential loan applications from small businesses, (2) investment analysts evaluating the investment quality of a firm’s stock, and (3) internal management, assessing the firm’s curre..
Calculate the bond equivalent yield and effective annual return on a jumbo CD that is 125 days from maturity and has a quoted nominal yield of 6.66 percent.
A firm has total assets of $280,000, a total asset turnover rate of 1.6, a debt-equity ratio .4, and a return on equity of 13.25 percent. What is the firm's net income?
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