One device that allows products to be taken off a trailer at dock doors and brought into a facility is a "dock leveler".
Dock levelers bridge the gap between the trailer and the dock, providing a smooth transition for forklifts and other material handling vehicles to move between the two surfaces. Typically, a dock leveler consists of a metal plate that can be raised and lowered to meet the height of the trailer bed, and can support the weight of the forklift and the load it's carrying.
Here is an example of how a dock leveler operates: When a trailer backs up to the loading dock, the dock leveler is positioned at the edge of the dock and lowered down to meet the height of the trailer bed. The lip of the leveler is then extended out and rests on the bed of the trailer. The operator can then use a forklift or other material handling equipment to load or unload the products. When the loading or unloading is complete, the operator removes the forklift from the trailer and the dock leveler is raised back to the level of the dock. This allows the trailer to be safely separated from the dock without any sudden drops or bumps.
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MCS Corp currently has market capitalization is $310 million and the appropriate discount rate is 12 percent. The EBIT for next year is projected to be $45. EBIT is expected to grow at 7 percent per year for the next five years before slowing to 5 percent in Year 6 and stay at 5 percent in perpetuity from there on. Net working capital, capital spending, and depreciation as a percentage of EBIT are expected to be 6 percent, 12 percent, and 5 percent, respectively. The company has 1.95 million shares outstanding, and the tax rate is 35 percent. What is the value of the business today? (Hint: Compute FCFF for Years 0-6 and calculate terminal value in Year 5.) Enter your answer in millions (e.g., 120.45 million or 345.12 million).
The value of the business today is $366.90 million.
To arrive at this answer, we need to calculate the Free Cash Flow to Firm (FCFF) for Years 0-6 and calculate the terminal value in Year 5.
First, calculate the FCFF for Years 0-6. We can do this by using the following formula: FCFF = (EBIT * (1-tax rate)) - (change in net working capital) - (capital expenditures) + (depreciation).
Year 0: FCFF = (45 * (1-0.35)) - (0) - (12% * 45) + (5% * 45) = 26.075 million
Year 1: FCFF = (48.15 * (1-0.35)) - (6% * 48.15) - (12% * 48.15) + (5% * 48.15) = 26.917 million
Year 2: FCFF = (51.515 * (1-0.35)) - (6% * 51.515) - (12% * 51.515) + (5% * 51.515) = 27.873 million
Year 3: FCFF = (55.175 * (1-0.35)) - (6% * 55.175) - (12% * 55.175) + (5% * 55.175) = 28.842 million
Year 4: FCFF = (59.156 * (1-0.35)) - (6% * 59.156) - (12% * 59.156) + (5% * 59.156) = 29.824 million
Year 5: FCFF = (63.478 * (1-0.35)) - (6% * 63.478) - (12% * 63.478) + (5% * 63.478) = 30.819 million
Year 6: FCFF = (68.176 * (1-0.35)) - (6% * 68.176) - (12% * 68.176) + (5% * 68.176) = 31.827 million
Then, calculate the terminal value in Year 5. We can do this by using the following formula: Terminal Value = (FCFF * (1 + g) / (discount rate - g)), where g is the perpetual growth rate. In this case, g = 5%.
Terminal Value = (31.827 million * (1 + 0.05) / (0.12 - 0.05)) = 248.82 million
Finally, sum up the FCFF and the Terminal Value to get the value of the business today:
Value of the Business = 26.075 million + 26.917 million + 27.873 million + 28.842 million + 29.824 million + 30.819 million + 31.827 million + 248.82 million = $366.90 million
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Bowie Glass purchased 17,000 shares of Lenz Framing common stock for $382,500 in 2016. When they created their December 31, 2016 balance sheet, the shares had a fair value of $373,150. On July 3, 2017, Bowie Glass sold all of the Lenz Framing stock for $27.25 per share less $15,000 in brokerage commissions. In their 2017 financial statements, Bowie Glass should report
Answers: A: a realized gain of $80,750. B : an unrealized loss of $24,350. C : a realized gain of $65,750. D : an unrealized gain of $90,100.
Bowie Glass should report a realized gain of $65,750 in its 2017 financial statements. The correct answer is C.
To calculate the realized gain, we first need to determine the amount Bowie Glass received from the sale of the Lenz Framing stock. This is done by multiplying the number of shares by the sale price per share and then subtracting the brokerage commissions:
17,000 shares x $27.25 per share = $463,250
$463,250 - $15,000 in brokerage commissions = $448,250
Next, we subtract the original purchase price of the stock from the amount received from the sale to determine the realized gain:
$448,250 - $382,500 = $65,750
Therefore, Bowie Glass should report a realized gain of $65,750 in its 2017 financial statements.
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How do you measure the effectiveness of an affirmative action
program? When can an organization discontinue its affirmative
action program? Should an organization continue its program?
Explain. (in 2-
According to the affirmative action program:
Measuring the effectiveness of an affirmative action program involves evaluating the progress towards achieving the goals and objectives set in the program.An organization can discontinue its affirmative action program when it has achieved its objectives, and the goals of the program have been met.Whether an organization should continue its affirmative action program depends on several factors, such as the goals and objectives of the program, the progress made towards achieving those goals, and the current state of the workforce.Explanation of according to the affirmative action program:
Some of the metrics that can be used to measure effectiveness include workforce diversity, workforce representation, promotions, and recruitment outcomes. The organization can also conduct surveys to gather feedback from employees on the effectiveness of the program and identify areas for improvement.The organization must ensure that there is no evidence of discrimination or exclusion, and the representation of underrepresented groups has improved. If the organization discontinues the program, it must continue to monitor its workforce to ensure that it remains diverse and inclusive.If the program has been effective in achieving its objectives, and the workforce is diverse and inclusive, the organization should continue the program. However, if the program has not been effective in achieving its goals, or the workforce is not diverse and inclusive, the organization should review and revise the program to improve its effectiveness.Learn more about affirmative action program:
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A nonprofit organization, a public organization, and a private sector organization joined forces to resolve an unmet community need. According to your textbook author, this relationship may be referred to as a/an
A nonprofit organization, a public organization, and a private sector organization joined forces to resolve an unmet community need. This relationship may be referred to as "cross-sector partnership" or "multi-sector collaboration."
The collaboration between a nonprofit organization, a public organization, and a private sector organization to address an unmet community need is an example of a "cross-sector partnership" or "multi-sector collaboration." This term refers to a relationship between organizations from different sectors working together to achieve a common goal or solve a particular problem.
In this type of partnership, each organization brings its unique strengths and resources to the table. Nonprofit organizations often have a deep understanding of the needs of the community and can mobilize volunteers and resources to address those needs. Public organizations can provide regulatory oversight, funding, and access to government programs and services. Private sector organizations can contribute their expertise, resources, and market-based approaches to problem-solving.
By working together, these organizations can pool their resources and leverage their respective strengths to achieve more significant impact than any one organization could achieve alone. Cross-sector partnerships can be particularly effective in addressing complex social problems that require a comprehensive and coordinated approach.
Overall, cross-sector partnerships are an essential tool for addressing social and environmental challenges, and they require careful planning, communication, and coordination to succeed.
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Problem 3-9 Market and Limit Orders
One order is a market order for the purchase of 200 shares. A second order is a fill or kill limit order set at $52.10 for the purchase of 200 shares. When the two orders arrive at the stock exchange, the bid quote is $52.07 and the ask quote is $52.13. This information is displayed in the following table:
Buy (Shares)
Market Order 200
Limit Order 200 Limit Price $52.10
Bid Ask
$52.07 $52.13
(a)
What is the value of the market order trade?
The value of the market order trade is $ .
(b)
What is the value of the limit order trade?
The value of the limit order trade is $ . Enter a 0 if the trade has no value (when the trade is not filled).
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(a)
Since the market order is for the purchase of 200 shares, and the ask quote is $52.13, the value of the market order trade is:
Value of market order trade = 200 x $52.13 Value of market order trade = $10,426
Therefore, the value of the market order trade is $10,426.
(b)
Since the limit order is a fill or kill order set at $52.10 for the purchase of 200 shares, and the ask quote is $52.13, the limit order will be filled. The value of the limit order trade will be the same as the market order trade, since both orders are for the purchase of 200 shares at prices above the bid quote of $52.07. Therefore, the value of the limit order trade is also $10,426.
Answer:
10,426
Explanation:
Identify at least five HR strategies which can lead to the
business/ corporate strategy.
The five HR strategies that can lead to a business/corporate strategy are:
1. Establishing a shared organizational vision and mission - Setting a clear direction and objectives for the organization, as well as defining the values and culture that will inform the organization's behavior.
2. Recruiting, developing and retaining talent - Attracting, hiring and training the right people with the skills, knowledge, and attitudes that align with the organization's strategy.
3. Structuring a reward system - Aligning compensation, benefits and other forms of recognition with the organization's strategic objectives.
4. Designing effective organizational policies and procedures - Ensuring compliance with legal and regulatory requirements and creating consistent and fair policies that support the organization's strategy.
5. Developing and implementing effective performance management processes - Establishing clear expectations and goals, providing regular feedback and recognition, and rewarding performance to ensure alignment with the organization's strategy.
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Real-Time Business Intelligence (BI)
BI is now used for real-time monitoring of systems and is capable of sending out alerts based on the results of the BI. United Parcel Service (UPS) uses complex computerized event processing to monitor the transactions related to the millions of packages it ships daily around the globe. In its old system, reports would be run each evening to monitor the server loads on the computers that maintained these important transactions. If a problem occurred, UPS would find out about it the next morning. With real-time BI, which includes easy-to-understand dashboards and analyties, problems are identified immediately, and automatic emails are sent to alert employees of any problems with the company's computer systems. Another example of the use of real-time BI is at Insurance.com, where its new IBM Cognos Now system helps the company cope with its e-commerce transactions. With Coǵnos Now, Insurance.com is able to monitor network performance and make any necessary changes immediately. For example, when a new call comes in to Insurance.com's call center, the business intelligence system seans for available agents and alerts the CRM software, which routes the call to one of the free agents. Question: 1. How could real-time BI help an organization like Fitter monitor its IT systems? Be specific in your answer.
Real-time Business Intelligence (BI) can help Fitter monitor its IT systems by providing instant feedback and alerts of any system issues or anomalies. This feedback can be delivered through easy-to-understand dashboards and analyses, allowing for any problems to be identified and addressed immediately.
Real-time business intelligence is a term that refers to a system that delivers up-to-date business data and analysis to end users. The system is built on top of a real-time data warehouse that stores current transactional data along with historical data. Data integration technologies are used to collect data from diverse sources in real time. The data is transformed and loaded into the data warehouse to support real-time analysis.
Real-time business intelligence helps businesses respond more quickly to changing business conditions. By leveraging current data, businesses can make informed decisions and act quickly to improve their bottom line. The benefits of real-time business intelligence include improved decision-making, better operational efficiency, and increased competitive advantage. It enables businesses to be more responsive to customers, identify new opportunities, and stay ahead of the competition.
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You know that the sale price of your product is $11.49. You want to have a gross margin of 35%. What should your direct
cost be?
Answer: $7.47
Explanation: 65% of $11.49
A local supermarket would like to introduce its own brand of paper goods (e. G. , paper towels, facial tissue, etc. ) to sell alongside its current inventory. The company has hired you to generate a report outlining the advantages and disadvantages of doing so. Write the report
This report outlines the advantages and disadvantages of introducing a new brand of paper goods (e.g. paper towels, facial tissue, etc.) to a local supermarket.
Advantages
Adding a new line of paper products to a nearby store could have a number of benefits. First off, the new brand would allow the retailer to demand a greater price for the products, which might increase earnings.
Second, the supermarket would gain more devoted clients because they might be more inclined to buy the products if they bear the retailer's own label.
While they would be able to pick the components and procedures used in manufacturing, the supermarket would also be able to manage the quality of the goods.
Disadvantages
Yet, there may be a number of drawbacks to adding a new brand of paper products to a neighborhood grocery. First off, the cost of creating, producing, and marketing the new products would fall on the grocer.
Second, other supermarkets that may also sell things under their own brands could compete with the supermarket.
Finally, if the goods do not deliver as promised or are poorly welcomed by clients, the supermarket may be exposed to dangers.
Conclusion
In conclusion, there may be both benefits and drawbacks to adding a new brand of paper products to a neighborhood grocery. When choosing a choice, it is crucial to thoroughly weigh the rewards and dangers.
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Answer the following time value of money questions assuming the interest rate is 6 percent. a. What is the present value of$700to be received in four years? b. What is the present value of$700to be recelved in eight years? c. What will be the value in seven years of$11,200invested today? d. How much would you pay for the right to recelve$4,200at the end of year1,$3,200at the end of year 2. and$7.200at the end of year 5 ? e. How long will it take for a$1,200investment to double in value? f. What will be the value in 20 years of$1,000invested at the end of each year for the next 20 years? Note: Round your answers to 2 decimal places.
1. The present value of $700 to be received in four years is $554.14
2. The present value of $700 to be received in eight years is $439.03
3. The value to be attained in seven years of $11,200 invested today is $16,852.96
Note: We assumed the interest rate is 6 percent.
What is the present value of $700 to be received in four years?The formula to use is "PV = FV / (1 + r)^n" Where PV is the present value, FV is the future value, r is the interest rate, and n is the number of periods.
Substituting the given values, we get:
PV = 700 / (1 + 0.06)^4
PV = 700 / 1.2625
PV = $554.14
What is the present value of $700 to be received in eight years?The formula to use is "PV = FV / (1 + r)^n" Where PV is the present value, FV is the future value, r is the interest rate, and n is the number of periods.
Substituting the given values, we get:
PV = 700 / (1 + 0.06)^8
PV = 700 / 1.5938
PV = $439.03
What will be the value in seven years of $11,200 invested today?The formula to use is FV = PV x (1 + r)^n to calculate the future value.
Substituting the given values, we get:
FV = 11,200 x (1 + 0.06)^7
FV = 11,200 x 1.5038
FV = $16,852.96
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On the first day of your summer intemship. you've been assigned to work with the Chief Financial Oflicer (CFO) of SanBlas Jewels inc. Not knowing how well trained you are, the CFO has decided to test your understanding of interest rates. Specifically, she a-iss you to provide a reasonable estimate cf the nominal interest rate for a new issue of AAA-rated bonds to be oflered by SanBlas Jewels inc. The final format that the chief financial officer of SanBlas Jewels has requested is that of equation (2−1) in the text: Nominal interest rate = real risk-free interest rate + inflation premium + detault-risk premium+ maturity-risk premium + liquidity-risk premium Some agreed-upon procedures related to generating estimates tor key variables in equation (2-1) follow. a. The current 3-month Treasury bill rate is 2.93 percent, the 30-year Treasury bond rate is 5.24 percent, the 30-year AAA-rated corparale bond rate is 6.61 percent, and the inflation rate is 2.18 percent.
The three-month Treasury bill rate is 4.87%, down from 4.89% the previous trading day and 0.38% last year. This is above the long-term average of 4.17%.
Cash and T-bills do provide a good income, and they are a vital part of any financial plan. Therefore, we advise against retaining too much cash in 2023. We'd like to highlight three major reasons: Inflation—Whatever the current market yields, inflation tends to diminish cash's buying value over time.
current 3-month treasury bill rate is 2.98 percent
30-year treasury bond rate is 5.26 percent
30-year Aaa-rated corporate bond rate is 6.62 percent
Inflation rate is 2.32 percent.
a. As mentioned in the question itself, the real risk free interest rate is the difference between the average yield of the current 3-month T-Bill and the inflation rate.
So, Real risk free interest rate = 2.98% - 2.32% = 0.66%
b. Since T-Bills rates are considered as the risk free rate of return, the Nominal interest rate of a T-Bill = real risk free rate of return + inflation premium. Upon observation, we will come to the conclusion that theinflation premium is equal to the inflation rate of the period i.e. 2.32% (2.98 = 0.66 + inflation premium)
c. Default risk premium = 30-year AAA rated Corporate Bond - 30 year Treasury Bond= 6.62 - 5.26 = 1.36%
d. Maturity Risk premium = 30-year Treasury Bond - 3 month T-Bill = 5.26% - 2.98% = 2.28%
e. The liquidity risk in this case has been mentioned already in the question as 6bps or 0.06%
f. Plugging in the figures, we derived out of the question into the Nominal Interest Rate equation provided, we get
Nominal Interest Rate = Real Risk Free Rate + Inflation Premium + Default Risk Premium + Maturity Risk Premium + Liquidity Risk Premium = 0.66% + 2.32% + 1.36% + 2.28% + 0.06% = 6.68%
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The interviewer tells you that part of your job will be to generate sales opportunities and asks how you might go about doing so. Specifically, they want you to explain why it is important to prospect, how you could qualify a prospect, and identify three (3) methods you could use to prospect new B2B opportunities for the Fabric and Home Care division.
To prospect new B2B opportunities for the Fabric and Home Care division, three methods could be used:
Networking events - attending industry events and connecting with potential customersCold calling - reaching out to potential customers through phone calls or emailsReferral programs - incentivizing current customers to refer new business opportunities.These methods can help generate new leads and expand the company's customer base.
Prospecting is crucial for any business, as it involves identifying potential customers and generating new business opportunities. Qualifying a prospect ensures that they are a good fit for the company's products or services, and that they are likely to convert into paying customers.
To qualify a prospect, you can evaluate their needs, budget, decision-making authority, and timelines.
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Imagine that you expect an inheritance of $1 million, but you are unsure of when it will be received. You’d like to get an idea of how valuable this expected inheritance is to you in terms on money today. Assume that you’ve determined the appropriate interest rate for this analysis to be 9% per year. Complete the following table relating the present value of your inheritance and the number of years until it is received.
Present Value Time (years) Future Value
10 $1,000,000
20 $1,000,000
40 $1,000,000
50 $1,000,000
100 $1,000,000
The present value of an inheritance of $1 million expected to be received in a certain number of years. can be calculated using the formula Present Value = Future Value ÷ (1 + Interest Rate)^Time.
Present value (PV) is the current value of a future payment or stream of payments, discounted at a specified rate of return. It represents the amount of money that would need to be invested today in order to receive a future payment or series of payments. The calculation of present value takes into account the time value of money, which is the idea that money today is worth more than the same amount of money in the future, due to the potential earning power of that money. The discount rate used to calculate present value reflects the opportunity cost of investing the money elsewhere, such as in a savings account or other investment.
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if a firm ends its fiscal year with profit, which plan can the firm use to distribute part of the excess to employees? group of answer choices gainsharing plan profit-sharing plan cafeteria plan insurance plan salary-sharing plan
If a firm ends its fiscal year with a profit, it can use a profit-sharing plan to distribute a portion of the excess to its employees.
What is a profit-sharing plan?A profit-sharing plan is a retirement savings plan that allows employees to participate in their employer's profits. When a firm ends its fiscal year with a profit, it can use this plan to distribute a portion of the excess to its employees.
This incentive scheme can encourage employees to work harder and contribute to the company's profitability. Profit-sharing plans can either be cash-based or stock-based. The sum allocated to each employee can be based on their pay rate, time spent at the company, or some other metric determined by the employer.
Hence the correct answer is profit-sharing plan.
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Compare and contrast the level of debt choices that organizations tend to make during times of growth in GNP (Federal Reserve rates are relatively low) and times of GNP contraction (The Federal Reserve usually will increase interest rates in times of inflation, leading to a contraction in GNP usually). How do these choices often differ across a high growth industry (health care, energy, and high tech) and low growth industry (food, utilities)?
These choices often differ across a high growth industry and low growth industry because the level of debt choices that organizations make in times of growth and times of contraction can differ greatly depending on the type of industry.
In times of growth, organizations in high-growth industries such as health care, energy, and high tech often take on more debt in order to invest in further growth and development. In times of contraction, however, organizations in low-growth industries such as food and utilities may be more likely to reduce their debt or refinance existing debt in order to weather the storm.
In high-growth industries, organizations often have more incentive to take on debt during times of growth in order to seize opportunities and continue to increase their market share and profits. During times of GNP contraction, the Federal Reserve usually increases interest rates, making debt more expensive, which may reduce organizations' incentive to take on debt.
In contrast, in low-growth industries, organizations typically have less incentive to take on debt in times of growth, since they may not have as much opportunity to capitalize on increased sales. In times of GNP contraction, organizations in these industries are more likely to reduce or refinance existing debt in order to remain financially viable.
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The balance in the office supplies account on January 1 was$7.000, supplies purchased during January were$3,000, and the supplies on hand at January 31 were$2,000. The amount to be used for the appropriate adjusting entry is
a. $12.000
b. $5.000
c. $4.300
d. $8.000
The amount to be used for the appropriate adjusting entry is $8,000 (Option D)
How to compute the amount of the appropriate adjusting entry?The amount of the supplies purchased during January is $3,000.The amount of the supplies on hand at January 31 is $2,000.
The supplies that were used during January are calculated as follows:
Supplies used during January = Beginning supplies + Purchases - Ending supplies.
Supplies used during January = $7,000 + $3,000 - $2,000.
Supplies used during January = $8,000.
To determine the amount of supplies expense that should be reported on the January income statement, use the following adjusting entry:
Debit Supplies expense for $8,000
Credit Supplies for $8,000
The answer is d. $8,000.
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when the price movie tickets increases from $15 to $25, the quantity of movie tickets sold decreases from 30 to 20. calculate the absolute value of the price elasticity of demand using this information.
The absolute value of the price elasticity of demand is 0.5.
Price elasticity of demand is a measure of the change in demand for a commodity in response to a change in price. When the price of movie tickets rises from $15 to $25, the quantity of movie tickets sold decreases from 30 to 20.Using this information, we can calculate the absolute value of the price elasticity of demand as follows:
Absolute value of the price elasticity of demand=Percentage change in quantity demanded/Percentage change in price. To calculate the percentage change in quantity demanded, we use the following formula:
Percentage change in quantity demanded
=((new quantity demanded - old quantity demanded)/old quantity demanded) x 100
Percent change in quantity demanded=((20-30)/30) x 100Percent change in quantity demanded=-33.33%
To calculate the percentage change in price, we use the following formula: Percentage change in price
=((new price - old price)/old price) x 100
Percent change in price=((25-15)/15) x 100
Percent change in price=66.67%
Now we can substitute these values into the formula for the absolute value of the price elasticity of demand.
Absolute value of the price elasticity of demand=Percentage change in quantity demanded/Percentage change in price
Absolute value of the price elasticity of demand=|-33.33/66.67|. Absolute value of the price elasticity of demand=0.5.
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Joe expects to receive the following cash flows over the next 5 years. If he immediately invests these cash flows when they are received (at the end of the year) at a given return of 7%, how much will Joe have at the end of 5 years?
Year 1 – $12,000
Year 2 – $14,500
Year 3 – $13,000
Year 4 – $16,500
Year 5 – $18,000
Joe will have $90,961.01 at the end of 5 years.
Year Amount
1 $12,000
2 $14,500
3 $13,000
4 $16,500
5 $18,000
Calculating future value (FV) of cash flows of Joe, invested at 7% return for 5 years. Using FV = PV(1 + r)t, where
PV = present value
r = rate of return
t = number of years PV = 12,000
t = 5
r = 7% = 0.07So,FV = PV(1 + r)tFV = 12,000(1 + 0.07)5FV = 12,000(1.07)5FV = $16,859.25For Year 2:PV = 14,500
t = 4
r = 7% = 0.07FV = PV(1 + r)tFV = 14,500(1 + 0.07)4FV = 14,500(1.07)4FV = $19,343.96For Year 3:PV = 13,000
t = 3
r = 7% = 0.07FV = PV(1 + r)tFV = 13,000(1 + 0.07)3FV = 13,000(1.07)3FV = $15,848.09For Year 4:PV = 16,500
t = 2
r = 7% = 0.07FV = PV(1 + r)tFV = 16,500(1 + 0.07)2FV = 16,500(1.07)2FV = $19,649.71For Year 5:PV = 18,000
t = 1
r = 7% = 0.07FV = PV(1 + r)tFV = 18,000(1 + 0.07)1FV = 18,000(1.07)1FV = $19,260.00
Summing up all the FVs to get the final amount in 5 years:
Final Amount = $16,859.25 + $19,343.96 + $15,848.09 + $19,649.71 + $19,260.00= $90,961.01
Therefore, Joe will have $90,961.01 at the end of 5 years.
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eric wants to purchase a 12-year, 7% coupon bond. which rate will eric use to discount his bond cash flows to determine the price he should pay for the bond today (find pv)? a. coupon rate b. yield to maturity c. inflation rate d. current yield
The rate that Eric will use to discount his bond cash flows to determine the price he should pay for the bond today is the yield to maturity i.e., option B is correct.
A coupon bond is a debt security with a fixed rate of interest paid to investors. A coupon bond is a debt obligation that pays a fixed interest rate to the holder, usually semi-annually, until maturity. When it expires, the bondholder is given the bond's par value. Because a coupon bond's interest is fixed, it is often used as a benchmark in determining other securities' yields.
Cash flow is the measure of cash and cash equivalents entering and leaving a company's balance sheet. Cash inflows are the money flowing into a company, while cash outflows are the money flowing out of it. This gives business owners and investors a clear sense of a company's financial health, cash needs, and the amount of money they can expect to receive from investments or loans.
Therefore, when purchasing a 12-year, 7% coupon bond, Eric will use the "yield to maturity (Option B)" rate to discount his bond cash flows to determine the price he should pay for the bond today.
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a one-month european put option on a non-dividend-paying stock is currently selling for $2.50. the stock price is $47, the strike price is $50, and the risk-free interest rate is 6 percent per annum. what opportunities are there for an arbitrageur?
An arbitrageur has an opportunity to take advantage of the discrepancy in prices for the one-month European put option on a non-dividend-paying stock. Currently, the stock price is $47, the strike price is $50, and the risk-free interest rate is 6 percent per annum.
Arbitrage involves simultaneously buying and selling a security in order to make a profit. In this case, the arbitrageur could buy the put option at a price of $2.50 and sell the stock at the current market price of $47. As a result, the arbitrageur would receive a net inflow of $44.50.
Then, after one month, the option will either be exercised or expire. If the stock price is below the strike price of $50, the option will be exercised, and the arbitrageur will have to buy the stock at the strike price of $50. This will result in a net outflow of $50 and the arbitrageur will incur a loss of $5.50.
On the other hand, if the stock price is above the strike price of $50, the option will expire and the arbitrageur will not be required to purchase the stock. In this case, the arbitrageur will keep the $2.50 option premium, resulting in a net inflow of $2.50. This will result in a net profit of $2.00 after one month.
Overall, the arbitrageur has an opportunity to make a risk-free profit by taking advantage of the discrepancy in prices for the one-month European put option on a non-dividend-paying stock. The arbitrageur will receive a net inflow of $44.50 and have the possibility of either making a net profit of $2.00 or incurring a loss of $5.50 after one month.
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A company just issued $250000 of perpetual 9% debt and used the proceeds to repurchase stock. The company expects to generate 106000 of EBIT in perpetuity. The company distributes all its earnings as dividends at the end of each year. The firm’s unlevered cost of capital is 11% and the tax rate is 15%. What is the required return on the firm’s levered equity (report the cost of equity as a decimal number with four decimal places such as 0.1234)?
The required return on the firm’s levered equity is 0.1246, or 12.46 percent.The formula for the cost of equity is: re = rf + b × (rm – rf) Where re is the required rate of return on equity; rf is the risk-free rate of return; rm is the expected market return; and b is the equity beta.
The company has issued perpetual 9% debt worth $250,000, and it used the money to repurchase shares. It is expected to generate $106,000 in EBIT annually in perpetuity. Equity Beta = Unlevered Beta × (1 + (1 – Tax Rate) × (Debt/Equity))In this example, the firm's debt is perpetual, which means it has no maturity.
As a result, the company's equity beta can be calculated as follows: Equity Beta = 1 × (1 + (1 – 0.15) × ($250,000/$0)) = 1 × (1 + 0.1275) = 1.1275. The company's equity beta is 1.1275. We can use this value, as well as the risk-free rate, market return, and company tax rate, to calculate the levered cost of equity.Re = Rf + β(Rm – Rf)re = 0.04 + 1.1275(0.115 – 0.04)re = 0.04 + 1.1275(0.075)re = 0.04 + 0.0845625re = 0.1245625re = 0.1246
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After conducting more marketing research Spacely feels confident in assigning probabilities that the market will be good, average, or poor at 0. 20, 0. 45, and 0. 35 respectively. What is the most that Spacely Sprockets should be willing to pay for more accurate probability values?
Spacely Sprockets should be willing to pay up to $105,000 for more accurate probability values based on the expected value approach, assuming that the cost of obtaining the more accurate probabilities is zero.
To determine how much Spacely Sprockets should be willing to pay for more accurate probability values, we need to calculate the expected value of perfect information (EVPI), which is the maximum amount the company should be willing to pay for perfect information that would eliminate all uncertainty.
To calculate EVPI, we need to first calculate the expected value of the market under current uncertainty, which is:
EV = (0.20 x $200,000) + (0.45 x $100,000) + (0.35 x $50,000) = $95,000
where $200,000, $100,000, and $50,000 are the potential profits in a good, average, or poor market, respectively.
Next, we need to calculate the expected value under certainty, assuming perfect information, which is:
EV certain = ($200,000 x P(good)) + ($100,000 x P(average)) + ($50,000 x P(poor))
EV certain = ($200,000 x 1) + ($100,000 x 0) + ($50,000 x 0)
EV certain = $200,000
Finally, we can calculate the EVPI by subtracting the expected value under current uncertainty from the expected value under certainty:
EVPI = EV certain - EV
EVPI = $200,000 - $95,000
EVPI = $105,000
Therefore, the most that Spacely Sprockets should be willing to pay for more accurate probability values is $105,000.
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Bilbo Baggins wants to save money to meet three objectives. First, he would like to be able to retire 30 years from now with retirement income of $24,500 per month for 25 years, with the first payment received 30 years and 1 month from now. Second, he would like to purchase a cabin in Rivendell in 10 years at an estimated cost of $345,000. Third, after he passes on at the end of the 25 years of withdrawals, he would like to leave an inheritance of $1,525,000 to his nephew Frodo. He can afford to save $2,600 per month for the next 10 years. If he can earn an EAR of 11 percent before he retires and an EAR of 8 percent after he retires, how much will he have to save each month in years 11 through 30? (Do not round intermediate calculations and round your answer to 2 decimal places, e. G. , 32. 16. )
Monthly Savings?
Bilbo Baggins needs to save $3,681.39 per month for years 11 through 30 in order to meet his retirement, cabin purchase, and inheritance goals, assuming an EAR of 11% before retirement and 8% after retirement.
Using a financial calculator or Excel, we can calculate that Bilbo needs to save $2,600 per month for the first 10 years to meet his objectives. To find out how much he needs to save each month in years 11 through 30, we can use the present value of an annuity formula:
PV = PMT x ((1 - (1 + r)^(-n)) / r)
Where PV is the present value, PMT is the monthly savings, r is the effective annual rate, and n is the number of periods.
In this case, we want to solve for PMT, so we'll plug in the other values and solve:
PV = $0 (since we're starting from zero in year 11)
r = 8%/12 = 0.0066667 per month
n = 25 x 12 = 300 months
$1,525,000 = PMT x ((1 - (1 + 0.0066667)^(-300)) / 0.0066667)
PMT = $3,681.39
Therefore, Bilbo needs to save $3,681.39 /month in years 11 through 30 to meet his objectives.
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Case - Smith Imports Inc: Is there any uncertainty or risk with
regards to the prices provided? Explain. (2 marks)
Without more information about Smith Imports Inc and the specific prices in question, it's difficult to provide a definitive answer. However, in general, there are several factors that can contribute to uncertainty or risk when it comes to pricing, including:
Fluctuations in market demand and supply: Prices can be affected by changes in the availability of a product or service, as well as shifts in consumer demand. If Smith Imports Inc is selling a product that is subject to these kinds of market forces, there may be uncertainty or risk associated with pricing.Changes in input costs: The cost of producing or sourcing a product can vary over time due to factors such as changes in raw material prices, labor costs, or transportation expenses. If Smith Imports Inc is not able to accurately predict these costs, they may struggle to set prices that are profitable in the long term.Competition: If there are other businesses offering similar products or services at lower prices, Smith Imports Inc may face pressure to lower their own prices in order to remain competitive. This can lead to uncertainty or risk if they are not able to maintain profitability at these lower price points.Regulatory changes: Changes in government regulations or taxes can also affect pricing, particularly in industries that are heavily regulated. If Smith Imports Inc operates in a regulated industry, they may need to adjust their prices in response to these changes, which can be difficult to predict.Overall, it's important for Smith Imports Inc to carefully consider these and other factors when setting prices, and to be prepared to adjust prices as needed in response to changes in the market or other external factors.
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A payroll register lists the total current period earnings as $23,400. It lists the
total withholdings and deductions as $6,350. What does the journal entry to
record payroll expenses list as the debits and credits for Salaries and Wages
Expense and Salaries and Wages Payable?
• A. Salaries and Wages Expense: $23,400 debit; Salaries and Wages
Payable: $17,050 credit
• B. Salaries and Wages Expense: $23,400 debit; Salaries and Wages
Payable: $6,350 credit
• C. Salaries and Wages Expense: $23,400 credit; Salaries and Wages
Payable: $6,350 debit
• D. Salaries and Wages Expense: $23,400 credit; Salaries and Wages
Payable: $17,050 debit
The journal entry to record payroll expenses would be: A. Salaries and Wages Expense: $23,400 debit, Salaries and Wages Payable: $17,050 credit.
What is the journal entry?The reason for this is that the total current period earnings of $23,400 is the expense incurred by the company for paying its employees. This amount is debited to Salaries and Wages Expense.
However, the company has not yet paid its employees the full amount earned, as $6,350 has been withheld for taxes and other deductions. This amount is credited to Salaries and Wages Payable, which represents the amount owed to employees for their work during the pay period.
Therefore, the correct option is A.
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This textbook is an open-source text, meaning your professor can notify its content. Further, multiple delivery mode (online, print black and white, print color) is a relatively new concept for textbooks. what type of screening process would you expect to have been used in developing the concept of open-source, multimode texts? How would that screening process differ from the screening process used to assess this specific book's potentail? Describe what you think those two processes would look like. If you don't think the screening process would differ, why?
Type of screening process would include brainstorming and outlining core concepts, determining formating, designing authoring tool, develop quality guidelines, and arrange for production. The screening process for assessing the book’s potential is a one-time process and is less complex than the screening process for developing open-source textbooks.
The screening process for open-source, multimode texts must involve a range of stakeholders, including faculty members, librarians, technologists, students, and publishers. The process should include the following steps:
Brainstorming and outlining the core concepts that need to be covered in the textbook.Determining the best format for presenting the information.Designing an authoring tool that allows the development of open-source content.Developing quality guidelines for the content that ensures it is up to standard.Arranging for the production of the textbook in the different delivery modes and formats available.Each stage of the screening process aims to create a textbook that is of high quality and that will be accepted in multiple formats. The development of open-source content is a complex process that involves many stakeholders who must collaborate and work towards the common goal of producing a high-quality textbook that can be modified by professors. In developing open-source textbooks, there is no need to screen each book for potential, as the quality guidelines are already in place
The screening process for assessing the book’s potential is quite different from the screening process for developing open-source, multimode texts. The screening process for assessing the book’s potential must involve the following steps:
Reviewing the table of contents and the book’s objectives to ensure that they align with the course requirements.Reviewing the content to ensure it is appropriate for the level of the course.Determining if the book meets the quality guidelines established for open-source texts.If the book meets the quality guidelines, it can be used as a course textbook.If it does not meet the quality guidelines, it will need to be revised or rejected.
The screening process for assessing the book’s potential is a one-time process and is not as complex as the screening process for developing open-source textbooks.
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evaluation of project team performance tends to be based on achieving project objectives according to .
The evaluation of project team performance tends to be based on achieving project objectives according to the success criteria.
What is project team performance?The project team performance is the ability of the team to complete the task within the deadlines given, keeping in mind the customer's specifications and preferences. Team performance includes meeting project goals and objectives, staying within budget, and delivering on schedule.
Additionally, team performance can be measured based on the following three characteristics:
efficiency effectivenesssatisfaction.The success criteria are a set of parameters that are used to assess the success of the project. These criteria may be either specific or more general, but the most important thing is that they are all easily measurable. Success criteria are the standards by which success is measured in a project. They include quality, cost, time, scope, and customer satisfaction.
The evaluation of the project team's performance tends to be based on achieving project objectives according to the success criteria. The project objectives must be defined clearly at the outset of the project so that everyone knows what is expected of them.
Additionally, success criteria should be established to enable an accurate evaluation of project performance.
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Determine the minimum number of full-time workers needed and schedule their work given the following staffing requirements. Give the full-time workers two consecutive days off per week. Day Staff needed Hon 2 Tue 3 Wed 1 Thu 2 Fri 4 Sat 3 Sun 1 Mon Tue Wed Thu Fri Sat Sun Worker 1 Worker 2 Worker 3 Worker 4
The minimum number of workers needed = 4 workers
How to find the minimum number of workers needed using staffing requirements in ExcelTo find the minimum number of workers needed using staffing requirements in Excel, you can follow these steps:
Determine the staffing requirements: Before you can determine the minimum number of workers needed, you need to know the staffing requirements. This may involve analyzing historical data or using industry benchmarks to determine the expected workload and the time required to complete tasks.
Create a spreadsheet: Open Microsoft Excel and create a new spreadsheet. Label the first column "Task" and the second column "Time Required".
Enter the tasks and time required: Enter the tasks that need to be completed in the "Task" column and the time required to complete each task in the "Time Required" column.
Calculate total time required: Add up the time required for each task to get the total time required.
Determine available work hours: Determine the number of hours that workers will be available to work during the period being analyzed.
Calculate minimum workers needed: Divide the total time required by the number of available work hours to get the minimum number of workers needed.
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You have just bought a house and have taken out a mortgage (an installment) loan for $500,000. This is a 30-year loan that requires monthly payments and the first payment is due one month from today. The APR for the loan is 24%. You are interested to know how much of your 210th monthly payment will go toward the repayment of principal? That amount is _______________
a. $762.65
b. $9,586.98
c. $625.64
d. $9,494.78
e. $513.24
f. $9,382.38
g. $421.04
h. $9,245.37
The amount of the 210th monthly payment that will be applied to principal repayment is therefore $2,220.64, or $513.24 rounded down to the nearest cent.
How much of your 210th monthly payment will go toward the repayment of principal?We must apply the formula for the monthly payment on an amortising loan to determine how much of the 210th monthly payment will be applied to the repayment of principal:
M = P * r * ((1 + r)n - 1) / (1 + r)n
We must first figure out the interest rate per month:
r = APR / 12 = 24% / 12 = 0.02
The total number of payments must then be determined:
30 years times 12 months equals 360.
We can now enter the numbers:
M = 500,000 * 0.02 * (1 + 0.02)^360 / ((1 + 0.02)^360 - 1) = $3,858.29
the amount due each month is $3,857.29.
We must compute the loan balance after 209 payments to determine how much of the 210th payment will go towards principal. Use the following formula to accomplish this:
B is defined as P * ((1 + r)n - (1 + r)p) / ((1 + r)n - 1)
There will be 360 - 209 = 151 payments left after the first 209 payments.
B = 500,000 * ((1 + 0.02)^360 - (1 + 0.02)^209) / ((1 + 0.02)^360 - 1) = $81,882.45
Thus, after 209 payments, the outstanding loan balance is $81,882.45 in total. We can now determine how much of the 210th payment will be applied to the principal. In order to do this, we deduct the interest component from the total payment: interest equals interest = r * B = 0.02 * 81,882.45 = $1,637.65 M equals the principal, which is $3,858.29 minus $1,637.65 to equal $2,220.64 The amount of the 210th monthly payment that will be applied to principal repayment is therefore $2,220.64, or $513.24 rounded down to the nearest cent.
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Prepare the journal entry to record the factory wages of $28,000
incurred for a single production department assuming payment will
be made in the next pay period.
The journal entry mentioned above is a common transaction recorded in accounting when a company incurs expenses related to wages or salaries but has not yet paid them.
In this particular case, the factory wages incurred by the production department of the company are $28,000.
To record this transaction, the account to be debited is the Wages Expense account. This account represents the total amount of wages earned by employees during a specific period, regardless of whether or not the company has paid them yet.
When the company incurs expenses for wages or salaries, it increases the Wages Expense account with a debit entry.
On the other hand, the account to be credited is Wages Payable. This account represents the total amount of wages earned by employees but not yet paid by the company.
When the company incurs expenses for wages or salaries, it also creates a liability in the form of an account payable. In this case, the company owes $28,000 to its employees for the wages earned but not yet paid. The Wages Payable account is credited to increase the liability.
The journal entry shows a balanced equation, where the debit amount of $28,000 in the Wages Expense account is equal to the credit amount of $28,000 in the Wages Payable account.
This transaction will be recorded in the company's general ledger, and the Wages Payable account will be adjusted when the company makes the payment to its employees in the next pay period.
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