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Madison Metals recently reported $9,000 in sales, $6,000 in operating costs other than depreciation, and $1,500 of depreciation. The company has no amortization charges and no non-operating income. It had issued $4,000 in bonds that carry a 7% interest rate, and its federal-plus-state income tax rate was 40%. What was the firm’s taxable, or pre-tax, income?
a. $1180
b. $1220
c. $1260
d. $1300
e. $1340
Lindsey insurance Co. has current sales of $10 million and predicts net year’s sales will grow to $14 million. Current assets are #3 million and fixed assets are $4 million. What are Lindsey’s total financing needs for the upcoming year? given the ab..
An investment project has annual cash inflows of $3,800, $4,700, $5,900, and $5,100, for the next four years, respectively. The discount rate is 14 percent. What is the discounted payback period for these cash flows if the initial cost is $8,600?
Suppose a company has net income of 1,000,000 and a plowback ratio of 40%. There are 50,000 shares of stock outstanding. The company plans to increase dividends by 22% each year for the next 2 years and apply a 2.25% growth rate to dividends each yea..
What are the economic functions that financial intermediaries perform that benefit society? Be sure to explain how depository intermediaries, like banks, differ from other financial institutions such as investment banking firms or securities brokerag..
List two services that FI's provide to the public. Why do intermediaries provide these services? What is a contingent financial claim? give two examples. How are FI's like other firms? How are FI's similar to each other? How are they different? What ..
Your job pays you only once a year for all the work you did over the previous 12 months. Today, December 31, you just received your salary of $52,000 and you plan to spend all of it. However, you want to start saving for retirement beginning next yea..
Cochrane, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of $2,430,000. The fixed asset will be depreciated straight-line to zero over its three-year tax life. The project is estimated to gener..
Determine the expected annual tax liability of Kaiser Enterprises, if the firm anticipates the following stream of taxable income.
What are three political risk factors?
A firm reported an ROE of 19 percent. The firm's debt ratio was 45 percent, sales were $12 million, and the capital intensity ratio was 1.1 times. Calculate the net income for the firm.
Your County, Georgia needs to raise $7 million from its property taxes for the county’s budget. If the county has $600,000,000 total tax digest/taxable property value, what is the tax rate the county should set expressed per $100? Another County, Geo..
A pension fund manager expects that her fund will need to pay $2.5 million in benefits at the end of each of the next three years. If the fund values its liabilities using a 9% discount rate, what is the DURATION of this pension fund's liabilities
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