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P Inc. is revising its payables policy. It has annual sales of $50,735,000, an average inventory level of $15,012,000, and average accounts receivable of $10,008,000. The firm's cost of goods sold is 85% of sales. The company makes all purchases on credit and has always paid on the 30th day. However, it now plans to take full advantage of trade credit and to pay its suppliers on the 40th day. The CFO also believes that sales can be maintained at the existing level but inventory can be lowered by $1,946,000 and accounts receivable by $1,946,000. What will be the net change in the cash conversion cycle, assuming a 365-day year? (Hint: compare old to new).
The coupon rate on an issue of debt is 8%. The yield to maturity on this issue is 10%. The corporate tax rate is 31%. What would be the approximate after-tax cost of debt for a new issue of bonds?
You graduated from USF and got a job at MetLife pension department. Your supervisor needs your help with some of its liabilities and risk control.
Two of the major investment markets in the United States are the New York Stock Exchange and NASDAQ. Explain the major differences between the two, including a discussion of how you would use each to purchase investments.
What is cash flow from assets expected to be next year? A bond's coupon rate is equal to the annual interest divided by which one of the following?
Describe how financial ratios can be used to measure a firm’s performance.
The average CPI for the year 1986 was 109.6. In 2006 the average CPI was 201.6. The average price of televisions in 1986 was $213.22. In 2006 the average price was $457.87. Convert the 1986 price to 2006 dollars. In which year was the real price of t..
A credit against the estate tax payable reduces the taxable estate before the tax rates are applied.
In what country would you choose to borrow? In which would you choose to lend?
Nonconstant growth Microtech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Microtech to begin paying dividends, beginning with a dividend of $1.25 comin..
Mario's Home Systems has sales of $2,790, costs of goods sold of $2,130, inventory of $498, and accounts receivable of $427. How many days, on average, does it take Mario's to sell its inventory?
Also if the interest rate increases from 4% to 5% what is the price change due to the convexity?
What is the risk-free interest rate?
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