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Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of $1,000, and a coupon rate of 7.9% (annual payments). The yield to maturity on this bond when it was issued was 5.5%. What was the price of this bond when it was issued? (Please show work and round to nearest cent)
Your firm is contemplating the purchase of a new $1,628,000 computer-based order entry system. The system will be depreciated straight-line to zero over its 5-year life. It will be worth $158,400 at the end of that time. The net working capital will ..
Provide one reason for using the bank's investment portfolio to speculate on interest rate movements. Provide one reason against such a strategy. What do you believe about efficient markets, and how does this influence your opinion of speculating? Ca..
A company has net income of $185,000, a profit margin of 8.4 percent, and an accounts receivable balance of $124,370. Assuming 70 percent of sales are on credit, what is the company’s days’ sales in receivables?
In each of the theories of capital structure the cost of equity rises as the amount of debt increases. So why don't financial managers use as little debt as possible to keep the cost of equity down? After all, isn't the goal of the firm to maximize s..
On her 25th birthday, a young woman engineer decides to start saving toward building up a retirement fund that pays 6% interest compounded monthly(the market interest rate). She feels that $1000000 worth of purchasing power in today's dollars will be..
Preston Corporation is considering whether to borrow funds and purchase an asset or to lease the asset under an operating lease arrangement. If the company purchases the asset, the cost will be $110,000. It can borrow funds for four years at 12 perce..
Why is the quantity factor for tray costing >1.0 for >20 trays? Trays are expensive no matter how many you buy. Custom trays cost more when you only order a few of them
Which of the following should be considered when a company estimates the cash flows used to analyze a proposed project?
John just turned 30 and will retire from his job when he turns 63. When John turns 63, he will stop working completely and have an after tax household income (not counting income from retirement funds) of $22,000 per year. He would like to be able to..
The weight of a bag of bricks plus 20% of its weight is 30 pounds. How much does the bag of bricks weigh, in pounds? Suppose that you go out and buy 100 lbs. of cucumbers that are 99% water. Ed invests $57,000 in stocks paying 8%. How much additional..
The Anberlin Co. had $294,000 in 2011 taxable income. Use the tax rates from Table 2.3. What is the average tax rate? What is the marginal tax rate?
A $1,000 par value bond is currently selling in the marketplace. It had an original maturity of 25 years and was sold 12 years ago. Its coupon rate is 8% and you are to determine its current price, given bonds of comparable risk have a yield to matur..
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