The Fox Corporation is looking to replace an existing printing press with one of two newer models that are more efficient. The current press is three years old, cost 32,000 and is being depreciated under MACRS using a 5-year recovery period. The first alternative under consideration, Printing Press A, cost $40,000 to purchase and $8,000 to install. It has a 5 year usable life and will be depreciated under MACRS using a 5-year recovery period. The second alternative, press B cost $54,000 to purchase and $6,000 to install. It also has a 5 year usable life and will be depreciated under MACRS using a 5 year recovery period. The purchase of press A would result in a $4,000 increase in net working capital, and the purchase of Press B would increase net working capital by $6,000. The projected Earnings before depreciation interest and taxes for each alternative is presented below.
Year   Press A   Press B   Existing press
1   25,000   22,000   14,000
2   25,000   24,000   14,000
3   25,000   26,000   14,000
4   25,000   28,000   14,000
5   25,000   28,000   14,000

The existing press can currently be sold for $18,000 before taxes. At the end of the 5 years the existing press can be sold for $1,000 before taxes. Press A can be sold to net $12,000 before taxes and press B can be sold to net $20,000 before taxes at the end of the 5 year period. The firm is subject to a 40% tax rate.
The company has $100M of debt outstanding with a yield-to-maturity of 8%, and has $150M of equity outstanding with a beta of 0.9. The expected market return is 13% and the risk-free rate is 5%.

A small factory is considering replacing its existing coining press with a newer, more efficient one. The existing press was purchased five years ago at a cost of $145,000, and it is being depreciated according to a 7-year MACRs depreciation schedule. The CFO estimates that the existing press has 6 years of useful life remaining. The purchase price for the new press is $274,000. The installation of the new press would cost an additional $36,000, and this cost would be added to the depreciable base. The new press (if purchased) would be depreciated using the 7-year MACRs depreciation schedule. Interest expenses associated with the purchase of the new press are estimated to be roughly $8,200 per year for the next 6 years. The appeal of the new press is that it is estimated to produce a pre-tax operating cost savings of $78,000 per year for the next 6 years. Also, if the new press is purchased, the old press can be sold for $25,000 today. The CFO believes that the new press would be sold for $29,000 at the end of its 6-year useful life. Assume that NWC would not be affected. The company has an average tax rate of 28% and a marginal tax rate of 31%. The cost of capital (i.e., discount rate) for this project is 13.20%. Develop the incremental cash flows for this replacement decision and use them to calculate NPV, IRR, and MIRR. Then offer a recommendation on whether or not the existing coining press should be replaced at this time. And please make sure that it is easy to follow how you arrived at your incremental cash flows! (20 points)

Tech Mfg. is thinking about replacing an existing drill press. The existing press was
purchased 2 years ago for $78,000 with a salvage value of $9,000. It will last for three more
years and then will be scrapped. It can be sold today for $37,000. A new press can be
purchased for $95,000 with an expected salvage value of $10,500 at the end of its three-year
life. The new press will decrease labor costs by $18,000 per year. Sales generated by this drill
press are expected to increase by $350,000 per annum growing at 6% per annum. Press has a
gross profit margin of 20%.

The Press uses 11% for its cost of capital and has an ordinary income
tax rate of 25%. The project will be financed with a 9% 3-year loan. Press has an average
collection period of 70 days, 25 days of inventory, and 35 days of payables. The firm uses
straight-line depreciation for all long-term assets.

What is the NPV of the project?

C program that demonstrate tree traversal. see for the sample output.

Sample Output:

How many node do you have in your tree : 5

Enter root: 20
if you want to add to the left press 0 otherwise press 1
answer: 0
Enter next node: 10
if you want to add to the left press 0 otherwise press 1
answer: 0
Enter next node: 8
if you want to add to the left press 0 otherwise press 1
answer: 0
Enter next node: 15
if you want to add to the left press 0 otherwise press 1
answer: 1
Enter next node: 21

Display tree

20
/ \
10 21
/
8
/
5

Preorder – 20, 10, 8, 5, 21
       Inorder – 5, 8, 10, 20, 21
       Postorder – 5, 8, 10, 21, 20

** COMMENT CODE PLEASE**

Novel Coronovirus disease (COVID-19) Family dilemma: Part II

Slaughterhouse-Five Analysis

Why end with the novel with "Poo-tee-weet?"

1) Pretend you have just synthesized a novel, relatively non-polar compound that is solid at room temperature. The last reaction you performed on route to this compound also formed small quantities of more polar impurities. You are going to attempt to purify your novel compound by recrystallization. Would you rather try using ethanol or cyclohexane? Explain why.

2) When is it necessary to use a solvent-pair recrystallization?

Suppose that a writer completes a novel at age 40, which is then covered by copyright. At an interest rate of 10 percent, the present value of $1 paid after 105 years equals much less than 5 cents. What does this fact suggest about whether the efficient duration of copyright is longer or shorter than currently provided by law? Can you suggest an alternative system to incentivize novel writing? Is one necessary?

1. Deduce the following differential equations of entropy and enthalpy in a mixture:

∆_mS=-nR(X_alnX_a+X_blnX_b)

∆_mH=0

2. Make a graphic representation of these equations.

7. Chemical reactions are reversible, however enzymes can catalyze a reaction reversibly or irreversibly. Document each of these characteristics through graphic examples