fundamentals of corporate finance 8th edition brealey

... markets is the: A riskiness of the securities B price of the securities C previous issuance of the securities D profitability of the issuing corporation 38 Which of the following are both a financial ... written consent of McGraw-Hill Education 91 Which one of these was a major cause of the deep recession and severe unemployment throughout much of Europe that followed the financial crisis of 2007-2009? ... written consent of McGraw-Hill Education 103 How was the role of many bankers in the Financial Crisis of 2007-2009 an example of an agency problem? An agency problem is a failure of an agent (the

Ngày tải lên: 27/10/2017, 09:24

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Ngày tải lên: 27/08/2020, 09:10

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Ngày tải lên: 27/08/2020, 09:10

... corporate bonds of similar risk offer 8% rates of return B corporate bonds of similar risk offer 10% rates of return C top-quality corporate bonds offer 10% rates of return D the expected rate of return ... markets is the: A riskiness of the securities B price of the securities C previous issuance of the securities D profitability of the issuing corporation 52 Which of the following are both a financial ... amount of GM stock, GM receives: A the dollar value of the transaction B the dollar amount of the transaction, less brokerage fees C only the par value of the common stock D nothing 56 Which of the

Ngày tải lên: 27/10/2017, 09:24

... $46.02 PV of Dividends and P4 PV of D1= $1.5*(PVIF10%,1) = $1.3636 PV of D2 = $1.575*(PVIF10%,2) = $1.3017 PV of D3 = $1.6538*(PVIF10%,3) = $1.2425 PV of D4 = $1.7365*(PVIF10%,4) = $1.1861 PV of P4 ... $92.04 PV of Dividends and P4 PV of D1= $1.5*(PVIF12%,1) = $1.3393 PV of D2 = $1.575*(PVIF12%,2) = $1.2556 PV of D3 = $1.6538*(PVIF12%,3) = $1.1771 PV of D4 = $1.7365*(PVIF12%,4) = $1.1036 PV of P4 ... only source of money to finance your purchase is based on your family income The details of which follow… Your annual income is $50,000 before taxes which is taxed at a flat rate of 30% Of the after

Ngày tải lên: 24/02/2018, 08:31

... account is an annuity due of years followed by a single sum for another 10 years The FV of this account at the end of the 15th year (or the beginning of the 16th year) is the PV of the perpetuity 1 ... is the present value of this stream? (4 marks) (b) If the present value of the stream is $4,000 and Y = $100, what is the value of X? (5 marks) (c) Assume now that the value of the stream at year ... 2007 at a price of $1,070? (4 marks) (d) If you purchase the bond on September 1st, 2007 at a price of $1,070, what are the total rate of return and the effective annual rate of return if you

Ngày tải lên: 24/02/2018, 08:31

... amount of each payment? (5 marks) The EAR = 12% means that the 3-month interest rate (periodic rate) is: iq= r = (1 + 12%) − = 2.8737% The debt can be seen as the present value of an annuity of 16 ... be: Iq new = r = (1 + 14%) − = 3.3299% The outstanding debt of $20,307.39 is equal to the present value of the remaining 10 payments of $2,365.33 plus the extra payment X (smaller than the regular ... flows today is $14,000, and the future value of the Z’s cash flows 20 months from now is $5000, what is the value of X? (5 marks) We know the future value of the Z’s 20 months from today, this allows

Ngày tải lên: 24/02/2018, 08:31

... operating profits (cash) as follows Year Year Year Year $74,000 $84,000 $96,000 $70,000 The investment has an NPV of $20,850 based on a required rate of return of 12% Calculate the payback period of the ... value of zero Allergy-free Corp.’s cost of capital is 14% annually and it currently pays no taxes (a) What is the accounting break-even level of sales for the new vaccine, in terms of number of ... = $0.644 / $2.30 = $0.28 per $1 of revenue Additional profit per $1 of additional sales is therefore $0.72 Depreciation per year = $4,500,000 / = $562,500 fares of common stocks outstanding, which

Ngày tải lên: 24/02/2018, 08:31

... Venture Skis Inc (NVS) who has designed a new top of the line ski The skis are expected to retail at $600 with a profit margin (PM) of 60% The first round of consulting to NVS, concluded earlier in ... sets of the new skis per year for years which will reduce 12,000 sets of projected sales per year from the current high end line of skis These high end skis sell for $1,000 with a variable cost of ... the internal rate of return on each machine Would you buy these machines based on IRR? Explain (3 Marks) Answer IRR OF MACHINE A: 13.20 % (PV=-126, PMT=36, FV=0, N=5, I=?) IRR OF MACHINE B: 16.32

Ngày tải lên: 24/02/2018, 08:31

... present value of the friend’s offer is $6,520 Yes; present value of the friend’s offer is $6,624 No; present value of the friend’s offer is $5,134 No; present value of the friend’s offer is $5,624 ... 2:30-5:30 pm), Professor Okonkwo’s Section B (Tuesdays, 7-10 pm), Professor Patterson’s Section D (Thursdays, 4-7 pm), and Professor Tahani’s Section C (Wednesdays, 7-10 pm) AP/ADMS 3530.03 Finance Midterm ... Name Section ID # Professor Alagurajah’s Section A (Fridays, 2.30-5.30 pm), Professor King’s Section G (Internet), Professor Kohen’s Section F (Tuesdays, 2:30-5:30 pm), Professor Li’s Section

Ngày tải lên: 24/02/2018, 08:31

... of stock that offers a constant growth rate of 10 percent, requires a 16 percent rate of return, and is expected to sell for $50 one year from ... investments exceeds the firm's required rate of return 30 The purpose of a sinking fund is to: A) reduce the par value of stock over time B) take advantage of the tax break on preferred stock C) periodically ... C) higher rates of interest can be earned on the cash flows D) the cash flows have been discounted to a common date 27 Which of the following will increase the present value of an annuity, other

Ngày tải lên: 24/02/2018, 08:32

... in B) What is the most likely value of the PVGO for a stock with a current price of $50, expected earnings of $6 per share, and a required rate of return of 20 percent? A) $10 B) $20 C) $25 D) ... is the expected constant growth rate of dividends for a stock currently priced at $50, that just paid a dividend of $4, and has a required rate of return of 18 percent? A) 3.41 percent B) 5.50 ... maturity date of the bond D) receives 97.16 percent of the stated coupon payments Answer A Bond prices are quoted as a percentage of their face value So the bond in question has a price of 97.16%

Ngày tải lên: 24/02/2018, 08:32

... it at the end of year realizing an expected annual return of 0% annually What is your rate of return over the year period? A) Gain of 10% B) Loss of 10% C) Gain of 11.11% D) Loss of 11.11% E) ... the beginning of each year for years, IV Pay $500 at the end of year 1, $400 at the end of year 2, $300 at the end of year 3, and $1,500 at the end of year 4, V Pay $1,200 at the end of year and ... for a higher price The corporate bond will offer a lower coupon The corporate bond will offer a higher coupon The corporate bond has a higher credit spread Answer E 29 Which of the following statements

Ngày tải lên: 24/02/2018, 08:32

... _ Section _ ID # (Prof Alagurajah’s sections F and G; Prof King’s section D; Prof Li’s section A; Prof Tahani’s sections C and E; Prof Tissenbaum’s sections B and H) AK/ADMS ... The following cash flows have a present value of $1,922.51: $300 today, $400 at the end of year one, X at the end of year two, and $900 at the end of year three The annual interest rate is 6% ... (1.07 ) (Q in B) Compute the present value of the following set of payments for two years: payments of $500 per quarter for the first year and payments of $600 per quarter during the second year

Ngày tải lên: 24/02/2018, 08:32

... sales h Return on assets is a measure of bottom-line profit per dollar of total assets i Return on equity is a measure of bottom-line profit per dollar of equity j Price-earnings ratio reflects ... the corporate form of ownership, the shareholders are the owners of the firm The shareholders elect the directors of the corporation, who in turn appoint the firm’s management This separation of ... measure of the short-term liquidity of the firm, after removing the effects of inventory, generally the least liquid of the firm’s current assets b Cash ratio represents the ability of the firm...

Ngày tải lên: 01/07/2014, 14:22

... Investors Depositors Policyholders Investors Principles of Corporate Finance Brealey and Myers u Sixth Edition Present Value and The Opportunity Cost of Capital Chapter 11 Topics Covered w Present Value ... market offer a return of 7%, then Cost of capital = r = 7% 16 Valuing an Office Building Step 3: Discount future cash flows PV = C1 (1+r) = 400 (1+.07) = 374 Step 4: Go ahead if PV of payoff exceeds ... jobs that are appointed by the board of directors è Financial incentives such as stock options è Principles of Corporate Finance Brealey and Myers u Sixth Edition How to Calculate Present Values...

Ngày tải lên: 17/01/2014, 02:20

... were also marrying The Principles of Corporate Finance Richard A Brealey Stewart C Myers Brealey Meyers: Principles of Corporate Finance, Seventh Edition I Value Finance and the Financial Manager ... University of Baltimore Peter Berman University of New Haven Jean Canil University of Adelaide Robert Everett Johns Hopkins University Brealey Meyers: Principles of Corporate Finance, Seventh Edition ... the needs of the new Finance Tutor Series are included on the CD: your course Time Value of Money Tutor, Stock and Bond Valuation Brealey Meyers: Principles of Corporate Finance, Seventh Edition...

Ngày tải lên: 06/07/2014, 08:20

... “Economics and Ethics: The Case of Salomon Brothers,” Journal of Applied Corporate Finance (Summer 1992), pp 23–28 Brealey Meyers: Principles of Corporate Finance, Seventh Edition I Value Present Value ... pessimistic Forecasts of expected payoffs are correct on average 15 Brealey Meyers: Principles of Corporate Finance, Seventh Edition 16 PART I I Value Present Value and the Opportunity Cost of Capital © ... because its rate of return exceeds the cost of capital The rate of return on the investment in the office building is simply the profit as a proportion of the initial outlay: Return ϭ profit investment...

Ngày tải lên: 06/07/2014, 08:20

... $1.16 by the end of two years The present value of your year-2 cash flow equals PV ϭ C2 100 ϭ ϭ $86.21 11 ϩ r2 11.0772 33 Brealey Meyers: Principles of Corporate Finance, Seventh Edition 34 I Value ... the binomial method? Find out in the next episode of The Jones Family, Incorporated Brealey Meyers: Principles of Corporate Finance, Seventh Edition I Value How to Calculate Present Values CHAPTER ... years, given an interest rate of 10 percent? The answer to the first question is PV ϭ 100 ϭ $38.55 11.102 10 41 Brealey Meyers: Principles of Corporate Finance, Seventh Edition 42 I Value © The McGraw−Hill...

Ngày tải lên: 06/07/2014, 08:20