Consider this scenario: The population of a city increased steadily over a six-year span. The following ordered pairs show the population and the year over the six-year span (population, year) for specific recorded years.

(3,700, 2000),    (3,900, 2001),    (4,800, 2003),    (5,950, 2006)

Use linear regression to determine a function y, where the year y depends on the population x, to five decimal places of accuracy. Use your function to predict when the population will hit 12,000. (Round your answer down to the nearest year.)

The population will hit 12,000 in the year ???? .

Consider this scenario: The population of a city increased steadily over a six-year span. The following ordered pairs show the population and the year over the six-year span (population, year) for specific recorded years.

(3,700, 2000),    (3,900, 2001),    (4,800, 2003),    (5,950, 2006)

Use linear regression to determine a function y, where the year y depends on the population x, to five decimal places of accuracy. Use your function to predict when the population will hit 12,000. (Round your answer down to the nearest year.)

The population will hit 12,000 in the year ???? .

One year ago, the Tyler Rose closed-end fund had a NAV of $35.19 and was selling at an 11% discount. Today, the fund has a NAV of $36.42 and is selling at a 7.5% premium. During the year, the fund paid a dividend distribution of $.48 and a capital gain distribution of $.97.

A. Calculate the NAV-based HPR for the fund for the year.

B. Calculate the market-based HPR for the fund for the year.

C. Recalculate the market-based HPR for the fund for the year, assuming the fund was selling at an 8.8% premium at the beginning of the year and an 11.3% discount at the end of the year.

(IRR calculation) Determine to the nearest percent the IRR on the following projects:

a. An initial outlay of $9,000 resulting in a free cash flow of $3,000 at the end of year 1, $6 ,000 at the end of year 2, and $8,500 at the end of year 3

b. An initial outlay of $9,000 resulting in a free cash flow of $8,500 at the end of year 1, ?$6,000 at the end of year 2, and $ 3,000 at the end of year 3

c. An initial outlay of $9,000 resulting in a free cash flow of $3,000 at the end of years 1 through 5 and $6,000 at the end of year 6

Natcher Corporation’s accounts receivable at the end of Year 2 was $148,000 and its accounts receivable at the end of Year 1 was $156,000. The company’s inventory at the end of Year 2 was $151,000 and its inventory at the end of Year 1 was $143,000. Sales, all on account, amounted to $1,404,000 in Year 2. Cost of goods sold amounted to $822,000 in Year 2. The company’s operating cycle for Year 2 is closest to: (Round your intermediate calculations to 1 decimal place.)

Multiple Choice

48.9 days

104.9 days

74.4 days

70.8 days

Find the present values of these ordinary annuities. Discounting occurs once a year. Do not round intermediate calculations. Round your answers to the nearest cent.

1. $900 per year for 14 years at 4%.

   $  

2. $450 per year for 7 years at 2%.

   $  

3. $600 per year for 7 years at 0%.

   $  

4. Rework previous parts assuming they are annuities due.

   Present value of $900 per year for 14 years at 4%: $  

   Present value of $450 per year for 7 years at 2%: $  

   Present value of $600 per year for 7 years at 0%: $

A company is developing a new product. The development of the product requires an initial investment of $160,000 with further investments of $90,000 in year 1, $60,000 in year 2 and $10,000 in year 3. The company will launch the product on the market in year 3 and the company expects annual profits of $60,000 from year 3 to year 7. At the end of year 7, the company expects to terminate the production line and sell it to a competitor for $80,000. The company's required rate of return is 7%.

a. Calculate the NPV for this product.

Round to the nearest cent

b. Should the company proceed with developing the product?

Yes

No

Find the present values of these ordinary annuities. Discounting occurs once a year. Round your answers to the nearest cent.

a. $300 per year for 10 years at 12%.

b. $150 per year for 5 years at 6%.

c. $800 per year for 8 years at 0%.

Rework previous parts assuming that they are annuities due. Round your answers to the nearest cent.

d. $300 per year for 10 years at 12%.

e. $150 per year for 5 years at 6%.

f. $800 per year for 8 years at 0%.

Sandpiper Company has 15,000 shares of cumulative preferred 2% stock, $150 par and 50,000 shares of $30 par common stock. The following amounts were distributed as dividends:

Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'.