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1. Hoppy Corporation is comparing its flexible budget to the planning budget prepared at the beginning of the month. When the actual level of activity is less than the planning budget, all of the following would occur when comparing the flexible budget to the planning budget, except:
a Fixed costs should show no variances.
b Costs with both fixed and variable components would show favorable variances.
c Revenue should show an unfavorable variance.
d Variable costs should show unfavorable variances.
2. You bought one of Great White Shark Repellant Co.’s 9 percent coupon bonds one year ago for $770. These bonds make annual payments and mature 12 years from now. Suppose you decide to sell your bonds today, when the required return on the bonds is 12 percent. If the inflation rate was 3.1 percent over the past year, what was your total real return on investment?
a) 21.06%
b) 13.89%
c) 13.99%
d) 14.59%
e) 2.56%
The Corner Market has fixed costs of $1,600, depreciation of $1,200, a tax rate of 35%, and a cost of capital of 12%. Variable costs represent 67% of sales. What minimum level of sales must the market obtain to avoid a net loss on its income statemen..
Himiny's Cricket Farm Issued a 26-year, 14 percent semiannual bond 3 years ago. The bond currently sells for 90 percent of its face value. The company's tax rate is 33 percent. What is the aftertax cost of debt? Do not round intermediate calculations..
Interest rates are projected to decline in the future such that you can refinance the property at 4.5% interest after ten years.
An economist has concluded that, near the point of equilibrium, the demand curve and supply curve for one-year discount bonds can be estimated using the following equations: What is the expected equilibrium price and quantity of bonds in this marke..
Given the following information; Risk free rate = 3%, Volatility = beta= 5.6,
Provide an overview of the types of fee income your bank is generating.- How does it compare to the other income? What would their net income look like if you removed the fee income?
ABC Inc. is preparing its cash budget. It expects to have sales of $40,000 in April, $48,000 in May, and $55,000 in June.
David and Joan Mead have a home with an appraised value of $195,000 and a mortgage balance of only $95,000. Given that an S&L is willing to lend money at a loan-to-value ratio of 70 percent, how big a home equity credit line can David and Joan obtai..
A call option on IBM has an exercise price of 100, the share price S is 120. The option will expire in 6 months, and the riskfree rate is 10Yo p.a. and the historical variance of the returns of IBM is I2Yo p.a. Before the option expires, IBM is expec..
In April 2013 a pound of apples cost $1.55, while oranges cost $1.19. Two years earlier the price of apples was only $1.34 a pound and that of oranges was $1.05 a pound. What was the annual compound rate of growth in the price of oranges?
Determine the yield (percentage return on investment) to an investor from Argentina who engages in covered interest arbitrage.
A 7% semiannual coupon bond matures in 6 years. The bond has a face value of $1,000 and a current yield of 7.5147%. What is the bond's price?
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