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A government bond with a coupon rate of 4% makes semiannual coupon payments on January 12 and July 12 of each year. The Wall Street Journal reports the asked price for the bond on January 27 at 100:5. What is the invoice price of the bond? The coupon period has 182 days. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Invoice price $
SAS Co. will be paying a dividend of $.80 at the end of this year that will grow by 4% per year for the next 5 years. After the 5 year period the dividend is expected to grow 3% for the foreseeable future. What is the value of the stock today (r= 9%)..
A 5-year bond with a 4.45% coupon sells for $107.48. A 7-year bond with a 5.75% coupon sells for 116.564. The conversion factor for the 5-year bond is 0.933891 while the 7-year bond is 0.98588. Assume that the yields for both bonds are 6% and that co..
A bank maintains an average clearing balance of $5,000,000 with the Federal Reserve. The Federal funds rate is currently 6.5 percent. What amount of credit will the bank earn over the reserve maintenance period that can be used to offset any fees cha..
Assume the following information: Exchange rate of Japanese yen in U.S. $ = $.011 Exchange rate of euro in U.S. $ = $1.40 Exchange rate of euro in Japanese yen = 140 yen What will be the yield for an investor who has $1,000,000 available to conduct t..
Hughes Technology Corp. recently went public with an initial public offering in which it received a total of $75.28 million in new capital funding. The underwriter used a firm commitment offering in which the offer price was $21.05 and the underwrite..
Your firm is contemplating the purchase of a new $530,000 computer-based order entry system. The system will be depreciated straight-line to zero over its five-year life. It will be worth $50,000 at the end of that time. If the tax rate is 34 percent..
The balance sheet that follows indicates the optimum capital structure for Nealon Inc. Flotation costs are (a) 3% of market value for a new bond issue, and (b) $1.00 per share for preferred stock. Equity above $3M would be obtained from the sale of ..
Suppose a firm has 46 million shares of common stock outstanding at a price of $19.9 per share. The firm also has 300,000 bonds outstanding with a current price of $1033. The outstanding bonds have yield to maturity 10.7%. The firm's common stock bet..
All else equal an increase in beta results in? an increase in the cost of retained earnings an increase in the cost of common equity whether or not the funds come from retained earnings or newly issue common stock an increase in the cost of newly iss..
Broussard Skateboard's sales are expected to increase by 25% from $8.6 million in 2013 to $10.75 million in 2014. Its assets totalled $6 million at the end of 2013. Broussard is already at full capacity, so its assets must grow at the same rate as pr..
Howell Petroleum is considering a new project that complements its existing business. The machine required for the project costs $3.95 million. The marketing department predicts that sales related to the project will be $2.65 million per year for the..
Hankins Corporation has 9.3 million shares of common stock outstanding, 680,000 shares of 7.3 percent preferred stock outstanding, and 193,000 of 8.5 percent semiannual bonds outstanding, par value $1,000 each. what rate should the firm use to discou..
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