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A $20 million loan outstanding to the Nigerian government is currently in arrears with City Bank. After extensive negotiations, City Bank agrees to reduce the interest rates from 10 percent to 6 percent and to lengthen the maturity of the loan to 10 years from the present 5 years remaining to maturity. The principal of the loan is to be paid at maturity. There will no grace period and the first interest payment is expected at the end of the year.
Question 1: If the cost of funds is 5 percent for the bank, what is the present value of the loan prior to the rescheduling?
Question 2: What is the present value of the rescheduled loan to the bank?
Question 3: What is the concessionality of the rescheduled loan if the cost of funds remains at 5 percent and an up-front fee of 5 percent is charged?
Question 4: What up-front fee should the bank charge to make the concessionality equal zero?
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A company currently pays a dividend of $3.5 per share (D0 = $3.5). It is estimated that the company's dividend will grow at a rate of 17% per year for the next 2 years, then at a constant rate of 5% thereafter. The company's stock has a beta of 0.8, ..
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As a nonaccounting manager, you will examine your company's financial statements as well as the financial statements of other companies.
Due to erratic sales of its sole product—a high-capacity battery for laptop computers—PEM, Inc., has been experiencing difficulty for some time. Compute the company’s CM ratio and its break-even point in both unit sales and dollar sales. Compute the ..
Fixed manufacturing overhead per unit is $7. Calculate Vader's product cost per unit using both variable costing and absorption costing.
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