Many Japanese cultural traits include ancient Chinese influences. Please discuss examples of Chinese influence that you have discovered in Japanese religious activities, theater, traditional music and instruments.

Does knowing the personal, social, or political context of a work of art has a bearing on how to judge the art in question?

Give examples from:

painting or sculpture,

literature, and

theater, television or film.

You are considering opening a drive-in movie theater and running it for ten years. You have spent after-tax $10,000 researching the land that will be used for theater, but if you take the project you expect to incur another immediate after-tax expense of $20,000 as you work with a consulting firm to decide how to most efficiently run the business.

The project entails an immediate $100,000 capital expenditure, which can be depreciated over 10 years. You expect to sell this capital investment for $25,000 at the end of the ten year project. Working capital expenses for the project are $50,000 immediately, $40,000 incurred two years from today, both of which are fully recovered in ten years (at the end of the project).

The project’s operating costs are expected to be $100,000 for each of the first five years and then (starting between t=5 and t=6) grow at -5% per year through the end of the project (i.e., through t=10). You expect the project’s revenues to start at $100,000 starting one year from today and remain constant for the life of the project.

1. ) You decide to use 10% as the project’s opportunity cost of capital. Your expected tax rate is 25%. What is the project’s NPV?

1. You decide to purchase a van to transport your hotel guests to and from the airport. This is a new service you are adding to your hotel because you have noticed from your STR reports that your competitors are having better occupancy percentages and slightly better ADRs. And after some research, you do have a very comparable product but your current guests have also put in their comment cards that they wish you would provide airport transportation. The cost of the van with the upgrades totals $75,000. You are not charging your guests anything but you have estimated that this new service, you should have an increase in your annual cash flow of $28,000 for the next 5 years. What is the IRR of this van?

20. An existing public park serving 1.8 Million visitor/year is to be improved. Initial cost is SR 2.25 Million and the annual operating and maintenance cost starts with SR 0.145 Million during the first year and increases 3%/year thereafter. The planning horizon is 20 years, the salvage value is 32% of the initial cost, and the interest rate is 10%. The minimum additional benefits/visit that will justify the facility improvement is closest to: a) SR 0.17 b) SR 0.24 c) SR 0.15 d) SR 0.3

An existing public park serving 1.8 Million visitor/year is to be improved. Initial cost is SR 2.25 Million and the annual operating and maintenance cost starts with SR 0.145 Million during the first year and increases 3%/year thereafter. The planning horizon is 20 years, the salvage value is 32% of the initial cost, and the interest rate is 15%. The minimum additional benefits/visit that will justify the facility improvement is closest to:

a) SR 0.19

b) SR 0.25

c) SR 0.16

d) SR 0.29

Acme Development Company is considering building a twenty-five (25) unit apartment building near Catholic University due to the demand for off-campus student housing. Given the unique needs of the student population, Acme anticipates they will achieve 75% occupancy over the course of a year. Acme is basing their decision on the following assumptions:

 MARR:15%
 Land Acquisition:$150,000
 Construction Cost:$2,250,000
 Investment Period:20-years

Maintenance Expenses:Years 1 to 10: $500 per unit, Years 11 to 20: $1,000 per unit

 Property Taxes/Insurance:10% of total invested cost
Determine the break-even rent that should be charged per month for each apartment.