of planning and managing a firm’s long-term investments is called: A. B. C. D. E. working capital management. financial depreciation. agency cost analysis. capital budgeting. capital structure. 4. The mixture of debt and equity used by a firm to finance its operations is called: A. B. C. D. E. working capital management. financial depreciation. cost analysis. capital budgeting. capital structure. 5. The management of a firm’s short-term assets and liabilities is called: A. B. C. D. E. working capital
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Summary What Makes an Alcoholic Beverage? • Drinkable alcohol is obtained from the fermentation of sugar in some natural products such as grapes‚ apples‚ honey‚ or molasses. The result is some form of wine. • Beer is obtained from barley‚ after the starch has first been converted into sugar‚ fermented along with other grains and hops‚ and aged. • To obtain very strong alcoholic beverages‚ it is necessary to boil the fermented liquid and condense it later ~--bfcooling. This process‚ called distillation
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H/W Evidence for chapter 8 10/01/15 Euan Sarson (10W) 8.1 package chapter8; public class PrimitiveIntegerArray { public static void main (String [] args){ int[] myLuckyNumber = new int[5]; myLuckyNumber[0] = 9; myLuckyNumber[1] = 11; myLuckyNumber[2] = 38; myLuckyNumber[3] = 2; myLuckyNumber[4] = 991; System.out.println(myLuckyNumber[0]); System.out.println(myLuckyNumber[1]); System.out.println(myLuckyNumber[2]); System.out.println(myLuckyNumber[3]); System.out.println(myLuckyNumber[4]);
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Research Problem 1) New Gate corporation desires to acquire Old Post in a non-taxable transaction. Prior to entering into this transaction with New Gate‚ Old Post issues $800‚000 worth of 15-year bonds paying 6% annually. The bonds are purchased by most of Old Post’s shareholders and also by many individuals who have no affiliation with Old Post. New Gate makes an offer to the shareholders to exchange two shares of its common voting class A stock for each common share of Old Post and 20 of common
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Final Exam Practice Problems 1. Firm ABC’s only outstanding debt is $100‚000 worth of coupon bond (market value). Its yield to maturity is 8%. Given that its tax rate is 40%‚ what is its effective cost of debt? Effective cost of debt = cost of debt * (1-tax rate) =8%*(1-40%)=4.8% 2. Firm ABC has a stock currently traded at $20. The next year’s dividend will be $0.20. The dividend growth rate is forecasted to be 6% forever. Risk-free rate is 3%‚ and market risk premium is 4%. Assume that Constant
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Chapter 8: State‚ Society‚ and the Quest for Salvation in India Megasthene‚ Seleucid Emperor * Lived during late 4 and early 3 century bce. * Indika‚ long lost book‚ quotations of the respect on Indian land‚ people‚ and society. * Ant story * Monstrous human beings * Fertile land * 2 harvest/yr of grain * Pataliputra‚ capital * Near Ganges river with timber wall with 570 towers & 64 gates. * Large armies with war elephants *
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that indicates that Pinnacle should re-evaluate its credit policies to ensure timely receivable collection. The high debt/equity ratio means that Pinnacle has been aggressive in financing it growth with debt. Usually if a lot of debt is used to finance increased operations could lead to bankruptcy‚ however given the industry in which Pinnacle operates is capital - intensive (manufacturing) tends to have a debt/equity ratio around 2. (A6) The gross profit percent shows the portion of sales available
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Chapter 1 Corporate Finance- the acquisition and efficient use of funds required by the fund The acquisition refers to the finance decision Efficient use of funds refers to the investment decision A major aspect of corporate finance is the creation and determination of value Objective of Financial Management- Maximize shareholder wealth is the main goal—to maximize the market value of the firm 3 Main Decision Areas of Financial Manager to Achieve Maximization: 1. Investment Decision- What
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asset-backed financings or single-lessee leasing arrangements. 2.) Even though the investment risk is greater than 10% of the total assets for LeaseMed‚ you still have to demonstrate that the equity is sufficient to permit the legal entity to finance its own activities according to ASC 810-10-25-45a‚b‚c. LeaseMed does not meet qualification A because it is not able to issue investment grade debt and there is no evidence that it has invested into other similar entities (qualification B). So it
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Assignment 1 NPV: = -PF + FV /(1+r) PV = FV/(1+r) or PV = C1/1-r + C2/(1-r)2 + .. + CT/(1-r)T Rate of return: R=(Vf-Vi)/Vf Rate r compounded m times a year: FV = C(1+r/m)mt 10% semiannually = 10.25% annually‚ Hence 10.25 is said to be the Effective Annual Yield (EAY) 1+EAY = (1+r/m)mt Assignment 2 Perpetuity The value of D received each year‚ forever: PV = D/r Annuity The value of D received each year for T years: PV = (D/r)*[1 – 1/(1+r)T] Growing Perpetuity PV = D/(R-g) R: the
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