Using the FINRA Bond Center search engine, determine if any U.S. government agencies issue preferred stock. If you find a preferred stock issue from a U.S. government agency, create a screen capture of the first 10 lines or so of bond detail info retrieved by the search engine, and display it below. Be sure that it includes the “maturity date” and “bond type” fields. (Hint: remember that preferred stock is a hybrid bond-like equity security and is “perpetual”.)

You estimate that a passive portfolio, that is, one invested in a risky portfolio that mimics the S&P 500 stock index, yields an expected rate of return of 16% with a standard deviation of 25%. You manage an active portfolio with expected return 21% and standard deviation 32%. The risk-free rate is 8%. Your client's degree of risk aversion is A = 1.8.

a. If he chose to invest in the passive portfolio, what proportion, y, would he select? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

b. What is the fee (percentage of the investment in your fund, deducted at the end of the year) that you can charge to make the client indifferent between your fund and the passive strategy affected by his capital allocation decision (i.e., his choice of y)? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

For a typical U.S. (exchange-listed) corporation, approximately what is the cost of equity capital? Explain your reasoning. What firm characteristics (other than leverage) are associated with higher than average costs of equity capital?

What is Fractional Banking? How does it impact the money supply? What would happen to the money supply size if several large banks all failed at the same time? Should the U.S. government bail out failing banks? What is moral hazard? What is capital injection?

what is financial inclusion? write up 10 pages on the weaknesses of the financial system in Zambia.
recommend what should be included in the financial inclusion in Zambia

Net present value: Emporia Mills is evaluating two heating systems. Projects are independent. Costs and projected energy savings are given in the following table.

The company uses 10.73 percent to discount such project cash flows. The NPV of System 100 is $__________.

the NPV of System 200 is $__________, and Emporia should choose System 200 or neither system or System 100 or both systems.

Wendy's boss wants to use straight-line depreciation for the new expansion project because he said it will give higher net income in earlier years and give him a larger bonus. The project will last 4 years and requires $1,770,000 of equipment. The company could use either straight-line or the 3-year MACRS accelerated method. Under straight-line depreciation, the cost of the equipment would be depreciated evenly over its 4-year life. (Ignore the half-year convention for the straight-line method.) The applicable MACRS depreciation rates are 33.33%, 44.45%, 14.81%, and 7.41%. The project cost of capital is 8%, and its tax rate is 25%.

1. What would the depreciation expense be each year under each method? Enter your answers as positive values. Do not round intermediate calculations. Round your answers to the nearest dollar.

Which depreciation method would produce the higher NPV, and how much higher would it be? Do not round intermediate calculations. Round your answer to the nearest cent.

The NPV under -Select-Scenario 1Scenario 2 will be higher by $   .

Strickler Technology is considering changes in its working capital policies to improve its cash flow cycle. Strickler's sales last year were $2,180,000 (all on credit), and its net profit margin was 7%. Its inventory turnover was 6.0 times during the year, and its DSO was 37 days. Its annual cost of goods sold was $1,200,000. The firm had fixed assets totaling $355,000. Strickler's payables deferral period is 43 days. Assume a 365-day year. Do not round intermediate calculations.

1. Calculate Strickler's cash conversion cycle. Do not round intermediate calculations. Round your answer to two decimal places.

   days

2. Assuming Strickler holds negligible amounts of cash and marketable securities, calculate its total assets turnover and ROA. Do not round intermediate calculations. Round your answers to two decimal places.

   Total assets turnover: ×

   ROA: %

3. Suppose Strickler's managers believe the annual inventory turnover can be raised to 10 times without affecting sale or profit margins. What would Strickler's cash conversion cycle, total assets turnover, and ROA have been if the inventory turnover had been 10 for the year? Do not round intermediate calculations. Round your answers to two decimal places.

   Cash conversion cycle: days

   Total assets turnover: ×

   ROA: %

Thomson Trucking has $10 billion in assets, and its tax rate is 30%. Its basic earning power (BEP) ratio is 20%, and its return on assets (ROA) is 5%. What is its times-interest-earned (TIE) ratio? Round your answer to two decimal places.

Although the Chen Company's milling machine is old, it is still in relatively good working order and would last for another 10 years. It is inefficient compared to modern standards, though, and so the company is considering replacing it. The new milling machine, at a cost of $112,000 delivered and installed, would also last for 10 years and would produce after-tax cash flows (labor savings and depreciation tax savings) of $19,900 per year. It would have zero salvage value at the end of its life. The project cost of capital is 10%, and its marginal tax rate is 25%.

Should Chen buy the new machine? Do not round intermediate calculations. Round your answer to the nearest cent.

Negative value, if any, should be indicated by a minus sign.

NPV: $

Chen SHOULD or SHOULDN'T purchase the new machine.

If interest rates rise after a bond issue, what will happen to the bond’s price and YTM? Does the time to maturity affect the extent to which interest rate changes affect the bond’s price? The values of outstanding bonds change whenever the going rate of interest changes. In general, short-term interest rates are more volatile than long-term interest rates. Therefore, short-term bond prices are more sensitive to interest rate changes than are long-term bond prices. Is that statement true or false? Explain. (Hint: Make up a “reasonable” example based on a 1-year and a 20-year bond to help answer the question.)

Factors that result in higher or lower stock prices?

What drives stock prices?

Important factors that drive stock market prices?

500 words minimum