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According to Citigroup's announcement on Feb. 27, 2009, each preferred share (Series F) would be converted to 7.308 common shares. You took advantage of the deviation from the law of one price by buying one preferred share and shorting the number of common shares to be converted to at the Feb. 27 prices (Preferred: $8.14, Common: $1.50). To establish your arbitrage position, you need to satisfy the requirements of Reg. T: deposit a 50% margin for both your long and short positions. This deposited margin is your equity in the arbitrage position. On March 11, the preferred and common share prices moved to $10.07 and $1.54 respectively.
Question 1: What was the return on your arbitrage position - change in your equity position (in percentages, keep two decimals) on March 11, if you held your position till that time, not considering any costs of establishing and maintaining the strategy over time?
Which of the two financing plans is the least expensive (i.e., has the lowest net present value if your cost of capital is 12 percent)? Ignore reimbursement and tax considerations.
to classify costs associated with manufacturing firms merchandising firms or service firms as 1product or period costs
RGF Manufacturing recently signed a $200,000, 138-day note on June 22. The interest rate is 5%. Using a 365-day year, how much interest will be due on the note?
Gegax Manufacturing incurred the following costs in acquiring land, making land improvements, and constructing and furnishing a new building. Set up columns for Land, Land Improvements, Buidling, and Furniture. Show how to account for each cost by li..
how much may Dirk claim as a deduction for state income taxes on his Federal income tax return for calendar year 2011
Roland Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2013 for 10,000,000 and had an estimated useful life of 8 years with no salvage value. Prepare the journal entry (if any) to record the ..
Schuh, Inc. plans to produce 6,000 units in Month 1 and 7,000 units in Month 2. Each unit requires 3 pounds of direct materials that can be purchased for $2 per pound. At the beginning of Month 1 there are 2,000 pounds of direct materials on hand. Sc..
has her per-dollar marginal utility of grape sodas (MUsoda/Psoda) greater than her per-dollar marginal utility of chips (MUchips/Pchips). How will she change her consumption of both goods to maximize her utility?
Create T-accounts for each of the accounts on a balance sheet and enter the balances at the end of 2012 as beginning balances for 2013. Prepare a trial balance for 12/31/12.
Consider the performance review process at your organization. Is it simply an exercise, or is it valuable for managers and employees?
Miriah Inc. has 10,000 shares of 5%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2014. What is the annual dividend on the preferred stock?
George operates a business that generated adjusted gross income of $250,000 and taxable income of $170,000 this year (before the domestic production activities deduction). Included in income was $70,000 of qualified production activities income. Geor..
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