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URI Corporation bonds have a total face value of $25M, 17-years remaining, and a coupon rate of 15%. The bonds were issued at par 3 years ago with a flotation cost of $1M amortized (straight line) over the life of the bond. The call provision specifies a premium of 5% of face value if the bonds are to be retired. Bonds of firms with the same credit rating currently yield 11% in the market. The risk free rate is 8% and the corporate tax rate is 35%. If the refunding goes ahead, the new bonds are to be issued immediately by incurring a flotation cost of $1.2M to be amortized over the life of the new bonds. The old bonds are to be retired 2 months after the issuance of the new bonds in order to ensure the availability of funds in the refunding. What is the NPV of the bond refunding? (Your answer should be in millions. Round to the nearest hundredth. e.g., 0.16666 must be expressed as 0.17).
lithium inc. is considering two mutually exclusive projects a and b. project a costs 95000 and is expected to generate
the genius of the chartered joint stock company was that it locked in financial capital that was the key resource
What are the ethical ramifications of re-classifying investments? Give an example of when reclassifying a long term investment as a short term investment makes financial sense for the company.
Briefly discuss the problems related to fundamental analysis that are considered advantage for technical analysis
herken company is a closely held corporation with a capital structure composed entirely of common stock and retained
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Determine to the nearest percent the IRR of the following projects: a. An initial outlay of $10,000 resulting in a free cash flow of $2.000 at the end of year 1, $5,000 at the end of year 2, and $8,000 at the end of year 3.
It needs to be around 300 to 325 words. Its for a graduate level MBA course. Would you require a new development office staff member to become a member of Association of Fundraising Professionals (AFP)? Why, or why not? Would you pay them a 10% co..
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