Your company is considering a new 4-year project that requires an initial fixed asset investment of $3.25 million. The fixed asset is eligible for 100 percent bonus depreciation in the first year (which means can all be depreciated in year 1). At the end of the project, the asset can be sold for $440,000. The project is expected to generate $3.05 million in annual sales, with annual expenses of $955,000. The project will require an initial investment of $490,000 in NWC that will be returned at the end of the project. The corporate tax rate is 22 and the project has a required return of 11 percent.

What is the NPV of the project?

1. In this programming assignment, you are asked to write a multi-threaded program using JAVA to compute the sum of an arithmetic series from 1 to 200 using pthreads.   The main thread is responsible for creating two child threads

2. The first child thread should compute the partial sum of the series from 1 to 100 and the second computes the partial sum of another series from 101 to 200.

3. The main thread should accumulate the partial sums computed by the child threads to obtain the final sum and then print out the results, including the partial sums computed by each child thread and the final sum accumulated by the main thread.

7. Write JavaScript statements to accomplish each of the following tasks:

   1. a) Display the value of the seventh element of array f.

   2. b) Initialize each of the five elements of one-dimensional array g to 8.

   3. c) Total the elements of array c, which contains 100 numeric elements.

   4. d) Copy 11-element array a into the first portion of array b, which contains 34 elements.

   5. e) Determine and print the smallest and largest values contained in 99-element floating-

point array w.

PLEASE WRITE ALL HTML PROGRAM IN A SINGLE PROGRAM. ALL ANSWERS SHOULD BE SOLVED IN A SINGLE OUTPUT.

The topic of this discussion is marginal analysis. The goal of this discussion is to apply the marginal concept in a unique way. Specifically answer this prompt: Craft a scenario and a numeric problem for other students to solve using the Marginal Benefit/Marginal Cost framework. Explain how the "MB" and "MC" are defined in your scenario, and why they increase, decrease or remain constant. Try to use your scenario to explain some behavior or phenomenon that may be puzzling at first glance. You can use any example appropriate (some example ideas could be asking: "Do people wash their car until it is 100% spotless?". "Why does food waste occur?" "Cell phone use while driving on the freeway?" "Using 100% of the toothpaste from the tube?")  Be creative!

(Example response: Food waste and yogurt. Many people throw away their yogurt container with still some edible yogurt inside; it is rare to find someone who will scrape the yogurt container 100% clean. In this example, the quantity or "Q" will be defined as "number of spoonfuls of yogurt," the marginal benefit "MB" is the value of each additional spoonful of yogurt to the consumer (measured in dollars), and the marginal cost "MC" is the effort required to obtain additional spoonfuls of yogurt from the container (measured in dollars). In this example, as the consumer eats more and more yogurt, she gets more full, so the value of each additional spoonful is decreasing (therefore the MB is decreasing). She values the first spoonful of yogurt the most because she is the most hungry at that time, and she values the last spoonful of yogurt the least because she is the most full. The cost of obtaining additional spoonfuls or the MC will be increasing, since the first spoonful will be easy to acquire because the yogurt is plentiful but when the yogurt is close to being finished, the cost of obtaining additional spoonfuls is higher.

Multiple choice question: Let's imagine we have 4 total spoonfuls available in the container, the MB of each is: $5, $4, $2, $1 respectively and the MC of each is: $1, $3, $4, $9. How much yogurt should our consumer eat to maximize total net benefits (TNB)?

• A) 1 spoonful: TNB is $4
• B) 2 spoonfuls: TNB is $9
• C) 2 spoonfuls: TNB is $5
• D) 3 spoonfuls: TNB is $11
• E) 4 spoonfuls: TNB is $12
  1. Clearly defined scenario to explain using the MB/MC framework
  2. Clearly defined quantity, MB, and MC
  3. A multiple choice problem for other students to answer

a) Rachel has a bicycle valued at £100. If Rachel locks the bicycle up everywhere she goes, it
still has a probability of being stolen of 20%. What does it mean to say that Rachel is risk
natural? If Rachel is risk neutral, what is the expected value to her of owning the bicycle?

b) If Rachel buys a bike insurance policy for £25 that will reimburse her for the value of the
bike if stolen, she eliminates the risk of owning a bike. Then the expected value of the insured
bike is 0.8*(£100-£25) + 0.2*(£100-£25) = £75. Under what circumstances would Rachel be
prepared to buy the insurance policy?

c) Calculate the expected profit of offering insurance on the bicycle, given the values stated
above.

d) Now assume that Rachel is part of a ‘low risk group’ of customers, each of whose probability
of having their bike stolen is 0.2. Assume that there is also a high risk group whose probability
of having their bike stolen is 0.4. Assume that while the low risk group are prepared to buy an
insurance contract for £25 or less, the high risk group are just prepared to buy the contract for
£45 or less. What happens if the firm tries to sell insurance at a price of £35? Who buys the
contract and what is the profit on the contract? What problem does this outcome illustrate?

QUESTION 1 (20)   
1.1 XML Limited presented the Statement of Comprehensive Income below for its most recent financial year.   

Sales 743 000
Cost of sales 402 000
Gross profit 341 000
Operating expenses 145 000
Income from operations 196 000
Other income 1 100
Other expenses 26 000
Profit before tax 171 100
Income tax 60 000
Net profit 111 100
  
1.1.1 Explain the difference between “sales” and “other income”. (4)

1.1.2 XML Limited would like to earn a large gross profit by selling its products at a much higher price than its cost. Describe two factors that may prevent it from doing so. (2)

1.1.3 Explain how cost of sales, operating expenses and other expenses are different from one another. (3)

1.1.4 Explain why cost of sales, operating expenses, other expenses and income tax are listed separately in the Statement of Comprehensive Income rather than being lumped together as one item. (2)

1.1.5 Explain why the Statement of Comprehensive Income presented above is inadequate to provide a proper interpretation of the financial result of XML Limited for the financial year. (2)

Tree Row Bank has assets of $150 million, liabilities of $135 million, and equity of $15 million. The asset duration is six years and the duration of the liabilities is four years. Market interest rates are 10 percent. Tree Row Bank wishes to hedge the balance sheet with Treasury bond futures contracts, which currently have a price quote of $95 per $100 face value for the benchmark 20-year, 8 percent coupon bond underlying the contract, a market yield of 8.5295 percent, and a duration of 10.3725 years.

a. Should the bank go short or long on the futures contracts to establish the correct macrohedge?

b. How many contracts are necessary to fully hedge the bank?

c. Verify that the change in the futures position will offset the change in the cash balance sheet position for a change in market interest rates of plus 100 basis points and minus 50 basis points.

d. If the bank had hedged with Treasury bill futures contracts that had a market value of $98 per $100 of face value and a duration of 0.25 years, how many futures contracts would have been necessary to fully hedge the balance sheet?

e. What additional issues should be considered by the bank in choosing between T-bond or Tbill futures contracts?