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In 2015, Caterpillar Inc. had about 649 million shares outstanding. Their book value was $28.3 per share, and the market price was $72.00 per share. The company’s balance sheet shows that the company had $24.20 billion of long-term debt, which was currently selling near par value. a. What was Caterpillar’s book debt-to-value ratio? (Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.) b. What was its market debt-to-value ratio? (Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.)
In an efficient market, the price of a security will:
Mr. Smith has an income of $40,000 this year and $60,000 next year. He can invest in a project that costs $30,000 this year, which generates an income of $36,000 next year. The market interest rate is 10%. What will be his consumption next year if Mr..
What factors would you consider in making your decision? Would you use any of the proceeds to buy life insurance?
Consider these long-term investment data: The price of a 10-year $100 par zero coupon inflation-indexed bond is $84.49. Compute the annual rate on the real bond
Explain the reason why a firm’s exports denominated in local currency is subject to economic exposure, but not to transaction exposure.
With which of the following statements would most people in business agree?
Slow Roll Drum Co. is evaluating the extension of credit to a new group of customers. Although these customers will provide $180,000 in additional credit sales, 12 percent are likely to be uncollectible. Compute the return on incremental investment. ..
In January, 2003, an investor purchased a convertible debenture bond issued by the XLA Corporation. The common stock paid no dividends.
Dinklage Corp. has 5 million shares of common stock outstanding. The current share price is $77, and the book value per share is $8. The company also has two bond issues outstanding. Assume that the overall cost of debt is the weighted average of tha..
Describe the income tax advantages of making charitable gifts during a person's lifetime, including items that would qualify for income tax deduction. Give some examples.
The Starr-Monuca Company bond is an unusual bond. It does not pay any coupon, and only pays the Fave Value at the end of 20 years. Such a bond is called a zero bond. Compute its yield to maturity if it is currnetly selling at 70% dicount. What would ..
Assume the following: LC Exposure = 10,000; Spot Rate = $1.00/LC1.00; 1 Year Forward = $0.98/LC1.00; 1 Year Strike Price = $0.975; Premium = $0.005; and WACC = 8.0% p.a. Please calculate the cost of the forward contract and the option.
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