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Ward Corp. is expected to have an EBIT of $2,400,000 next year. Depreciation, the increase in net working capital, and capital spending are expected to be $175,000, $105,000, and $125,000, respectively. All are expected to grow at 18 percent per year for four years. The company currently has $18,000,000 in debt and 850,000 shares outstanding. After Year 5, the adjusted cash flow from assets is expected to grow at 2.5 percent indefinitely. The company’s WACC is 9 percent and the tax rate is 40 percent. What is the price per share of the company's stock? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.) Share price $
The government's eminent domain powers allowing for a taking of land for a public use. What is meant by a public use? Is the taking of land for development of a shopping mall considered a public use? How did the U.S. Supreme Court analyze the notion ..
What are the critical differences in prot analysis when conducted in a capitated environment versus a fee-for-service environment? What cost structure is best when a provider is capitated? Explain.
Blue Angel, Inc., a private firm in the holiday gift industry, is considering a new project. The company currently has a target debt–equity ratio of .40, but the industry target debt–equity ratio is .35. The industry average beta is 1.2. The market r..
Which of the following statements is true in a market in which no arbitrage opportunities are available? I. A long forward for delivery in one year at $100 is worth more than a long call option struck at $100 that expires in one year
Most firm's cash balances consist of transactions, compensating, precautionary, and speculative balances, and the optimal total cash balance is found as the sum of the amounts needed for each of these purposes. Some firms choose to hold highly liquid..
Assignment Exercise: Components of Balance Sheet and Statement of Net Income. Identify the following MHS balance sheet components. List the name of each component and its amount(s) from the appropriate MHS financial statement
Compute the current market value of a bond with a $784 face value, maturing in 9 years, an interest rate of 10%, and annual payments of $64. Compute the present value of an ordinary annuity receiving 7 annual payments of $29 at an interest rate of: 2..
Given the following information, complete the problems #6 and #7. Stock Strike Days to Maturity Risk Free Standard Variance Price By Days in Year Rate Deviation of Return $22 $24 120/365 0.08 0.25 0.0625 42 40 50/365 .10 .23. Use the Black-Scholes Mo..
BDU Company has set up a new product line in January 2015. The dividend is expected to grow at 8% per year for the next 15 years. Then at 3% thereafter. The required return is 12% and the dividend in the coming year is $3.00. What is the stock price?..
An investor owns a $3000 par-value 12% bond with semiannual coupons. The bond will mature at par at the end of fourteen years. The investor decides that a ten-year bond would be preferable. Current yield rates are 6% convertible semiannually. The inv..
Tried and true home repair is considering replacement of its bobcat. The old Machine cost $150,000 and was depreciated using a 5 year straight line depreciation schedule. The machine has been in operation for three years. It could be sold for $30,000..
An investor sold seven contracts of June/2012 corn. The price per bushel was $1.64, and each contract was for 5000 bushels. The initial margin deposit is $2000 per contract with the maintenance margin at $1250. How much did the investor have to depos..
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