Problem Sets Chapter 5 A1. (Bond valuation) A $1‚000 face value bond has a remaining maturity of 10 years and a required return of 9%. The bond’s coupon rate is 7.4%. What is the fair value of this bond? Calculating PV factor: i= required return = 9% = 0.09 n= 10 years Using Cash Flow of $1000 to calculate present value‚ Cash flow= $1000 PV factor = 1/(1+i)^n = 0.42241 PV = $1000*0.42241= 422.41 Using Coupon Rate to calculate present value of Annuity Cash flow= $1000 * 7.4/100 =
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The Capital Structure of Chinese Companies 1. Introduction Capital structure is considered as a way to determine how a corporation financing its assets by issuing debt or equity. If the firm is entirely financed by the common equity‚ then it is so called an unlevered firmed‚ and its whole cash flow belong to its stockholders. If the firm financed both debt and equity‚ then it is so called a levered firm‚ and its cash flow will first goes to debt holders and then to stockholders. According to Brealey
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INVISIBLE HAND ACHIEVED? Ross L. Watts Sloan School Massachusetts Institute of Technology January 27‚ 2006 _____________________________ This paper was presented at the Institute of Chartered Accountants in England & Wales Information for Better Capital Markets Conference in London on December 20‚ 2005. I am grateful to Ryan LaFond‚ Karthik Ramanna‚ Sugata Roychowdhury and Joseph Weber for their comments. All remaining errors are mine. 1. INTRODUCTION When I was invited to present at this conference
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INTRODUCTION Venture capital‚ a financial innovation of the twentieth century‚ is a long-term liquid investment‚ which can be in the form of equity‚ quasi-equity and sometimes debt in new and high-risk ventures. Venture capital became better known after the famous legend of Apple Computers‚ which started out in the US in 1977 with the capital firm‚ Arthur Rock & Co. Apple Computers then made it to the Fortune 500 and Arthur Rock & Co. attained height in Venture capital industry. However the success
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TOPIC 6: CAPITAL ALLOWANCES Learning outcomes: At the end of this topic‚ students should be able to: i. Understand and identify the qualifying plant expenditure for plant and machinery. ii. Compute initial allowance‚ annual allowance‚ notional allowance and accelerated capital allowance. iii. Determine the balancing charge or balancing allowance on disposal of assets. 1.0 Introduction * Capital expenditure is not tax deductible. So‚ depreciation or amortization is also not deductible
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24/08/2013 Vmware‚ Inc. (VMW) Balance Sheet - NASDAQ.com Home > Quotes > VMW > Company Financials VMW Company Financials VMW $87.8 * 2.34 *Delayed - data as of Aug. 23‚ 2013 2.74% Cash Flow Financial Ratios Get Quarterly Data 12/31/2012 12/31/2011 12/31/2010 12/31/2009 Income Statement Balance Sheet Annual Income Statement (values in 000’s) Period Ending: Current Assets Cash and Cash Equivalents Short-Term Investments Net Receivables Inventory Other Current Assets Total
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Cycle time: Bottleneck| Cycle time = 1/Capacity rate | | Inventory = Throughput Rate x Flow Time | Little’s Law: I = R x T | Inventory Turns (IT) = 1 / Flow time (T) = R / I | BCWS = Budgeted Cost of Work Scheduled BCWC = Budgeted Cost of Work Complete |ACWC = Actual Cost of Work Complete | Cost Variance CV = BCWC – ACWC | Schedule variance SV = BCWC – BCWS | Utilization=Demand /CAPACITY| Inventory Buildup rate IBR|No IBR if no stations limits Throughput rate| Capacity rate = 1 / Cycle
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LDR ms Optical detector Optical source Forward-biased photodiode; energy releases photo of light (near-infrared) -Resistance against light -High gain means slower -Limiting resistor is used to keep the intensity is plotted on a log-log response time current within the maximum allowed scale -More sensitive than a rating. - When it’s darker‚ it will have a photodiode (can pick up smaller -The brightness of the LED depends higher resistance. If it has a changes in light) on the current‚ and NOT the
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University of Phoenix Material Goal Setting Worksheet Review this week’s resources and readings (for example SMART criteria‚ and the Career Plan Building Activities). Respond to the following in 75 to 150 words each: 1. Describe one academic goal that you have created using the SMART criteria. How do SMART criteria contribute to your academic goals I have been having a hard time with completing my assignments in a timely manner so my academic goal is to complete my assignments
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Self and Peer Critique Information SUBMIT: TYPED IN WORD 4 Paragraph Format Typed 10 or 12 pitch Double Spaced 1 ½ - 2 Pages in Length Manuscript – Not Outline Format Intro: My speech _________....Watching myself on tape……I did several things well‚ however there are a couple of items that I can improve on. Did well: Need Improvement: In conclusion….In the future …..I will…..for my following speeches… **Follow the same format for the peer critique! Please use the
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