CHAPTER 7 Bonds Valuation CHAPTER ORIENTATION This chapter introduces the concepts that underlie asset valuation. We are specifically concerned with bonds. We also look at the concept of the bondholder’s expected rate of return on an investment. CHAPTER OUTLINE I. Types of bonds A. Debentures: unsecured long-term debt. B. Subordinated debentures: bonds that have a lower claim on assets in the event of liquidation than do other senior debtholders. C. Mortgage bonds: bonds
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been conservative in financing its growth with debt‚ and thus contributes to stable earnings as a result of less additional interest expense. Above all‚ the company is in a good condition and enjoys a promising future development. Alternative Valuation Method Since Evolution Petroleum Corp. is an E&P company‚ DCF model
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BE ALONE IN A CROWD “We are born alone‚ we live alone‚ and we die alone. Only through our love and friendship can we create the illusion for the moment that we’re not alone.” This quote was addressed by Orson Welles‚ an American motion-picture actor‚ director‚ producer and writer. Perhaps‚ Welles is favorable to being alone. When I first read his quote‚ I was filled with awe that I can’t forget what he said. His words keep running in my head. Welles is right. We will live a life alone. Being
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precautions that a person can take while travelling alone. When we think instantly lyric of wonderful song “Travelling Alone” by Patty Larkin‚ we can said that travelling alone is wonderful thing. Now‚ people prefer to travel alone‚ either all time or occasionally. The passion with which solo travellers speak about their experiences is amazing. However‚ travelling alone also can be scary thing‚ particularly if you have never hit the road alone before especially for women. They are actually exposed
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Living Alone Could you imagine coming home to a strange person crashing on your couch? I can only imagine how disgruntling that would be. This and other scenarios alike are not acceptable in a place you pay for. That scenario can be avoided in one simple step: Living alone. Although living with other people has its advantages‚ living alone can be freeing‚ save a lot of money‚ and be an a lot safer place There are also many reasons living with roommates or family can be positive. You can be less
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leave for the night and had to feed and walk our dog everyday. These responsibilities were simple tasks that I have completed before but also have forgotten many times in the past. Despite my reservations‚ I told my parents that would be fine alone. They stocked the freezer with easily prepared foods (I could work the over and stove but knew nothing about cooking from scratch”. They gave me the phone numbers to the bed and breakfast at which they were staying in case I could not reach
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Although it might be more comfortable to travel with a companion‚ I certainly prefer to travel alone. If you go by yourself‚ you have the chance to learn a new language‚ to get to know cultures and customs and to meet new friends. If you travel alone‚ you have to learn the language of the country. Otherwise‚ your trip would be very difficult. Speaking the national language makes many things‚ like shopping and interacting with native people‚ much more easier. If you travel with a companion
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HW Bond Valuation and Bond Yields Clifford Clark is a recent retiree who is interested in investing some of his savings in corporate bonds. His financial planner has suggested the following bonds: • Bond A has a 7% annual coupon‚ matures in 12 years‚ and has a $1000 face value. • Bond B has a 9% annual coupon‚ matures in 12 years‚ and has a $1000 face value. • Bond C has an 11% annual coupon‚ matures in 12 years‚ and has a $1000 face value. Each bond has a yield to maturity (YTM) of 9%
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Seminar Questions – Stock Valuation 1. How much should you pay for the preferred stock of the Dakota Doorknob Company if it has $100 par value‚ pays $8.50 a share in annual dividends‚ and your required rate of return is 10 percent? 2. NDV Corp.’s common stock is expected to pay a $2 dividend‚ which will grow at a compound rate of 4 percent indefinitely. a. If the market requires a 14 percent return‚ what should be the current market price of the stock? b. If the
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Edgar’s poem "Alone" talks about how as a child he felt isolated. He felt different from all of the other kids‚ he felt alone. In his early 20’s is when Edgar came out with the poem Alone. Shortly after the death of his mother‚ he had never felt more alone then he did then. Many people over the course of decades can relate to Edgar’s poems. Even though this poem came out many many years
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