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HotFoot Shoes would like to maintain its cash account at a minimum level of $29,000, but expects the standard deviation in net daily cash flows to be $4,400, the effective annual rate on marketable securities to be 6.9 percent per year, and the trading cost per sale or purchase of marketable securities to be $240 per transaction.
What will be its optimal cash return point?
Please explain the difference between the modified accrual method and the full accrual method? Under modified accrual accounting, the term expenditure is used instead of expense. Expenditures are generally recognized when the liability is incurred." ..
In the governmental fund types, expenditures are generally recognized when resources are acquired. Liabilities are generally recognized if they will be liquidated with available expendable financial resources. Define “available.” Relate the definitio..
Suppose that a firm has preferred stock that currently trades for $123.45 per share, pays an annual dividend of $6.7, that the dividends do not grow over time, and has a flotation cost of 8.9%. What is the annual, after-flotation cost of the firm's p..
Assume that interest rate parity holds. In both the spot market and the 90-day forward market, 1 Japanese yen = 0.013 dollar. And 90-day risk-free securities yield 2.4% in Japan. What is the yield on 90-day risk-free securities in the United States?
You just graduated from college. Instead of saving for your retirement, you decide to purchase a new sports car for $30,000. Assume you first payment is one month from now and the loan is for 5 years. If the APR is 4.0%, what are your monthly payment..
A firm's bonds have a maturity of 10 years with a $1,000 face value, have an 11% semiannual coupon, are callable in 5 years at $1,186, and currently sell at a price of $1,332.41. What is their nominal yield to maturity? What is their nominal yield to..
Could someone please give me a formula walk through on how to calculate spot rates and forward rates for bonds ,, as intuitively as possible I'm not very mathematically inclined :( I have an exam in a few weeks so really need to grasp how to calculat..
Crisp Cookware's common stock is expected to pay a dividend of $1.5 a share at the end of this year (D1 = $1.50); its beta is 1.15; the risk-free rate is 5.2%; and the market risk premium is 5%. The dividend is expected to grow at some constant rate ..
Assume that the corporate tax rate is 40%, the personal tax rate on income from equity is 20% the personal rate on interest income is 36%. What is the effective tax advantage of a corporation issuing debt?
The rate of inflation for the next 12 months (Year 1) is expected to be 1.4 percent; it is expected to be 1.8 percent the following year (Year 2); and it is expected to be 2.0 percent every year after Year 2. Assume the real risk-free rate, r*, is 3 ..
What does the efficient market hypothesis (EMH) say about securities prices, their reaction to new information, and investor opportunities to profit? What is the behavioral finance challenge to this hypothesis? Do you personally believe the EMH argum..
Dividend smoothing: The Deck Company just paid a dividend of $1.55 per share of stock. Its target payout ratio is 45 percent. In one year, the company expects to have earnings per share of $7.10. If the adjustment rate is .4, as defined in the Lintne..
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