D Corporation has three bonds outstanding. All three have a coupon rate of 9 percent and a $1000 par value. The first bond has one year left to maturity. The second bond has 4 years left to maturity. The last bond has 8 years left to maturity. Assume for simplicity that the market rate for all three bonds is now 5 percent.
What is the value for the first bond with one year left to maturity? ___________
What is the value for the second bond with four years left to maturity? ______________
What is the value for the first bond with eight years left to maturity? ___________
Assuming the same stated interest rate, in an environment of increasing interest rates which bonds will decrease in value the most -- the one with a longer term (duration/maturity) or shorter term (duration/maturity)?
In: Finance
You're putting together gift baskets for a silent auction. The total value of the items in each basket must be $150 or less. The values of the available items are $90, $70, $110, $50, $30, $80, $120, $20, $100, $100, $60, $40, $70, $40, $90, $120, $60, $40, $80, and $110. (a) If you pack the items in the order listed above using the first fit algorithm, how many baskets will you make? ____ baskets (b) If you pack the items in the order listed above using the next fit algorithm, how many baskets will you make? ____ baskets (c) If you rearrange the items according to their value so that the most expensive item is first and then pack the items using the first fit algorithm, how many baskets will you make? ____ baskets
In: Advanced Math
Java programming
One of the most popular games of chance is a dice game known as “craps,” which is played in casinos and back alleys throughout the world.
The rules of the game are straightforward:
A player rolls two dice. Each die has six faces. These faces contain 1, 2,3,4,5, and 6 spots. After the dice have come to rest, the sum of the spots on the two upward faces is calculated. If the sum is 7 or 11 on the first throw, the player wins. If the sum is 2, 3, or 12 on the first throw (called “craps”), the player loses (i.e., the “house” wins). If the sum is 4, 5,6,8,9, or 10 on the first throw, then that sum becomes the player’s “points.” To win, you must continue rolling the dice until you “make your points.” The player loses by rolling a 7 before making the points.
In: Computer Science
The landing of military fighter jets on aircraft carrier requires great skill, so on occasions it requires more than one attempt to achieve the landing. TOP GUN is a pilot who is assigned to an aircraft carrier and has a record of achieving 95 % of landings on aircraft carriers in the first attempt. In a particular exercise TOP GUN is assigned to make four (4) takeoffs and landings on the aircraft carrier to which it is assigned. Under the assumption that the resulting events in each landing attempt are statistically independent of each other determine:
Most import: without using the binomial distribution. *NO BINOMIAL DISTRIBUTION*
a) The probability that TOP GUN achieve four (4) landings in the first (1) try.
b) The probability that TOP GUN achieve at least one (1) landing out of the four (4) on the first try.
In: Math
Processor/CPU Management
I. Five processes, J1, J2, J3, J4 and J5. arrive in the Ready Queue in sequence, one second apart. Each job takes 1 millisecond to load into memory. Each job will take 10, 2, 3, 1, 5 seconds to run respectively. Questions
A. Create a Google Sheet where each column represents a Job and reach row represents a second..
B. Show the state of the Ready Queue in the 7th second, the 11th second and the 20th second using the First Come, First Served, Shortest Job Next, Shortest Remaining Time First, amd Round Robin with time quantum of 2 seconds.
C. Which one is most efficient? Discuss advantage and disadvantage. Double spaced, one pag
In: Computer Science
|
Wildcat, Inc., has estimated sales (in millions) for the next four quarters as follows: |
| Q1 | Q2 | Q3 | Q4 | |||||||||
| Sales | $ | 190 | $ | 210 | $ | 230 | $ | 260 | ||||
|
Sales for the first quarter of the year after this one are projected at $205 million. Accounts receivable at the beginning of the year were $81 million. Wildcat has a 45-day collection period. |
|
Wildcat’s purchases from suppliers in a quarter are equal to 50 percent of the next quarter’s forecast sales, and suppliers are normally paid in 36 days. Wages, taxes, and other expenses run about 20 percent of sales. Interest and dividends are $18 million per quarter. |
|
Wildcat plans a major capital outlay in the second quarter of $94 million. Finally, the company started the year with a $83 million cash balance and wishes to maintain a $40 million minimum balance. |
| a-1. |
Assume that Wildcat can borrow any needed funds on a short-term basis at a rate of 3 percent per quarter and can invest any excess funds in short-term marketable securities at a rate of 2 percent per quarter. Complete the following short-term financial plan for Wildcat. (Enter your answers in millions. Negative amounts should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
| WILDCAT, INC. Short-Term Financial Plan (in millions) |
|||||||||
| Q1 | Q2 | Q3 | Q4 | ||||||
| Target cash balance | $ 40.00 | $ 40.00 | $ 40.00 | $ 40.00 | |||||
| Net cash inflow | |||||||||
| New short-term investments | |||||||||
| Income on short-term investments | |||||||||
| Short-term investments sold | |||||||||
| New short-term borrowing | |||||||||
| Interest on short-term borrowing | |||||||||
| Short-term borrowing repaid | |||||||||
| Ending cash balance | $ | $ | $ | $ | |||||
| Minimum cash balance | |||||||||
| Cumulative surplus (deficit) | $ | $ | $ | $ | |||||
| Beginning short-term investments | $ | $ | $ | $ | |||||
| Ending short-term investments | $ | $ | $ | $ | |||||
| Beginning short-term debt | $ | $ | $ | $ | |||||
| Ending short-term debt | $ | $ | $ | $ | |||||
| a-2. |
What is the net cash cost for the year under this target cash balance? (Negative amount should be indicated by a minus sign. Enter your answer in millions. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| Net cash cost | $ |
| b-1. |
Complete the following short-term financial plan assuming that Wildcat maintains a minimum cash balance of $20 million. (Enter your answers in millions. Negative amounts should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
| WILDCAT, INC. Short-Term Financial Plan (in millions) |
|||||||||
| Q1 | Q2 | Q3 | Q4 | ||||||
| Target cash balance | $ 20.00 | $ 20.00 | $ 20.00 | $ 20.00 | |||||
| Net cash inflow | |||||||||
| New short-term investments | |||||||||
| Income on short-term investments | |||||||||
| Short-term investments sold | |||||||||
| New short-term borrowing | |||||||||
| Interest on short-term borrowing | |||||||||
| Short-term borrowing repaid | |||||||||
| Ending cash balance | $ | $ | $ | $ | |||||
| Minimum cash balance | |||||||||
| Cumulative surplus (deficit) | $ | $ | $ | $ | |||||
| Beginning short-term investments | $ | $ | $ | $ | |||||
| Ending short-term investments | $ | $ | $ | $ | |||||
| Beginning short-term debt | $ | $ | $ | $ | |||||
| Ending short-term debt | $ | $ | $ | $ | |||||
| b-2. |
What is the net cash cost for the year under this target cash balance? (Enter your answer in millions. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| Net cash cost | $ |
In: Accounting
Wildcat, Inc., has estimated sales (in millions) for the next
four quarters as follows:
| Q1 | Q2 | Q3 | Q4 | |||||||||
| Sales | $ | 145 | $ | 165 | $ | 185 | $ | 215 | ||||
Sales for the first quarter of the year after this one are
projected at $160 million. Accounts receivable at the beginning of
the year were $63 million. Wildcat has a 45-day collection
period.
Wildcat’s purchases from suppliers in a quarter are equal to 45
percent of the next quarter’s forecasted sales, and suppliers are
normally paid in 36 days. Wages, taxes, and other expenses run
about 20 percent of sales. Interest and dividends are $12 million
per quarter.
Wildcat plans a major capital outlay in the second quarter of $92
million. Finally, the company started the year with a $74 million
cash balance and wishes to maintain a $40 million minimum
balance.
a-1. Assume that Wildcat can borrow any needed
funds on a short-term basis at a rate of 3 percent per quarter and
can invest any excess funds in short-term marketable securities at
a rate of 2 percent per quarter. Complete the following short-term
financial plan for Wildcat. (Enter your answers in
millions. A negative answer should be indicated by a minus sign.
Leave no cells blank - be certain to enter "0" wherever required.
Do not round intermediate calculations and round your answers to 2
decimal places, e.g., 32.16.)
|
WILDCAT, INC. Short-Term Financial Plan (in millions) |
|||||||||||||
| Q1 | Q2 | Q3 | Q4 | ||||||||||
| Beginning cash balance | $ | 40.00 | $ | 40.00 | $ | 40.00 | $ | 40.00 | |||||
| Net cash inflow | |||||||||||||
| New short-term investments | |||||||||||||
| Income from short-term investments | |||||||||||||
| Short-term investments sold | |||||||||||||
| New short-term borrowing | |||||||||||||
| Interest on short-term borrowing | |||||||||||||
| Short-term borrowing repaid | |||||||||||||
| Ending cash balance | $ | $ | $ | $ | |||||||||
| Minimum cash balance | |||||||||||||
| Cumulative surplus (deficit) | $ | $ | $ | $ | |||||||||
| Beginning short-term investments | $ | $ | $ | $ | |||||||||
| Ending short-term investments | $ | $ | $ | $ | |||||||||
| Beginning short-term debt | $ | $ | $ | $ | |||||||||
| Ending short-term debt | $ | $ | $ | $ | |||||||||
a-2. What is the net cash cost (total interest
paid minus total investment income earned) for the year under this
target cash balance? (A negative answer should be indicated
by a minus sign. Enter your answer in millions. Do not round
intermediate calculations and round your answer to 2 decimal
places, e.g., 32.16.)
Net cash cost
$
b-1. Complete the following short-term financial
plan assuming that Wildcat maintains a minimum cash balance of $20
million. (Enter your answers in millions. A negative answer
should be indicated by a minus sign. Leave no cells blank - be
certain to enter "0" wherever required. Do not round intermediate
calculations and round your answers to 2 decimal places, e.g.,
32.16.)
|
WILDCAT, INC. Short-Term Financial Plan (in millions) |
|||||||||||||
| Q1 | Q2 | Q3 | Q4 | ||||||||||
| Minimum cash balance | $ | 20.00 | $ | 20.00 | $ | 20.00 | $ | 20.00 | |||||
| Net cash inflow | |||||||||||||
| New short-term investments | |||||||||||||
| Income from short-term investments | |||||||||||||
| Short-term investments sold | |||||||||||||
| New short-term borrowing | |||||||||||||
| Interest on short-term borrowing | |||||||||||||
| Short-term borrowing repaid | |||||||||||||
| Ending cash balance | $ | $ | $ | $ | |||||||||
| Minimum cash balance | |||||||||||||
| Cumulative surplus (deficit) | $ | $ | $ | $ | |||||||||
| Beginning short-term investments | $ | $ | $ | $ | |||||||||
| Ending short-term investments | $ | $ | $ | $ | |||||||||
| Beginning short-term debt | $ | $ | $ | $ | |||||||||
| Ending short-term debt | $ | $ | $ | $ | |||||||||
b-2. What is the net cash cost (total interest
paid minus total investment income earned) for the year under this
target cash balance? (A negative answer should be indicated
by a minus sign. Enter your answer in millions. Do not round
intermediate calculations and round your answer to 2 decimal
places, e.g., 32.16.)
Net cash cost
$
In: Finance
|
Wildcat, Inc., has estimated sales (in millions) for the next four quarters as follows: |
| Q1 | Q2 | Q3 | Q4 | |||||||||
| Sales | $ | 175 | $ | 195 | $ | 215 | $ | 245 | ||||
|
Sales for the first quarter of the year after this one are projected at $190 million. Accounts receivable at the beginning of the year were $75 million. Wildcat has a 45-day collection period. |
|
Wildcat’s purchases from suppliers in a quarter are equal to 50 percent of the next quarter’s forecast sales, and suppliers are normally paid in 36 days. Wages, taxes, and other expenses run about 20 percent of sales. Interest and dividends are $11 million per quarter. |
|
Wildcat plans a major capital outlay in the second quarter of $98 million. Finally, the company started the year with a $80 million cash balance and wishes to maintain a $40 million minimum balance. |
| a1. |
Assume that Wildcat can borrow any needed funds on a short-term basis at a rate of 3 percent per quarter and can invest any excess funds in short-term marketable securities at a rate of 2 percent per quarter. Complete the following short-term financial plan for Wildcat. (Enter your answers in millions. Negative amounts should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| a2. |
What is the net cash cost for the year under this target cash balance? (Negative amount should be indicated by a minus sign. Enter your answer in millions. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| Net cash cost | $ |
| b1. |
Complete the following short-term financial plan assuming that Wildcat maintains a minimum cash balance of $20 million. (Enter your answers in millions. Negative amounts should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
|
WILDCAT, INC. Short-Term Financial Plan (in millions) |
|||||||||||||
| Q1 | Q2 | Q3 | Q4 | ||||||||||
| Target cash balance | $ 20.00 | $ 20.00 | $ 20.00 | $ 20.00 | |||||||||
| Net cash inflow | |||||||||||||
| New short-term investments | |||||||||||||
| Income on short-term investments | |||||||||||||
| Short-term investments sold | |||||||||||||
| New short-term borrowing | |||||||||||||
| Interest on short-term borrowing | |||||||||||||
| Short-term borrowing repaid | |||||||||||||
| Ending cash balance | $ | $ | $ | $ | |||||||||
| Minimum cash balance | |||||||||||||
| Cumulative surplus (deficit) | $ | $ | $ | $ | |||||||||
| Beginning short-term investments | $ | $ | $ | $ | |||||||||
| Ending short-term investments | $ | $ | $ | $ | |||||||||
| Beginning short-term debt | $ | $ | $ | $ | |||||||||
| Ending short-term debt | $ | $ | $ | $ | |||||||||
|
|||||||||||||
In: Accounting
|
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. |
|
Since you are well trained in budgeting, you have decided to prepare comprehensive budgets for the upcoming second quarter in order to show management the benefits that can be gained from an integrated budgeting program. To this end, you have worked with accounting and other areas to gather the information assembled below. |
|
The company sells many styles of earrings, but all are sold for the same price—$14 per pair. Actual sales of earrings for the last three months and budgeted sales for the next six months follow (in pairs of earrings): |
| January (actual) | 20,900 | June (budget) | 50,900 |
| February (actual) | 26,900 | July (budget) | 30,900 |
| March (actual) | 40,900 | August (budget) | 28,900 |
| April (budget) | 65,900 | September (budget) | 25,900 |
| May (budget) | 100,900 | ||
|
The concentration of sales before and during May is due to Mother's Day. Sufficient inventory should be on hand at the end of each month to supply 30% of the earrings sold in the following month. |
|
Suppliers are paid $8 for a pair of earrings. One-half of a month's purchases is paid for in the month of purchase; the other half is paid for in the following month. All sales are on credit, with no discount, and payable within 15 days. The company has found, however, that only 20% of a month's sales are collected in the month of sale. An additional 60% is collected in the following month, and the remaining 20% is collected in the second month following sale. Bad debts have been negligible. |
| Monthly operating expenses for the company are given below: |
| Variable: | ||
| Sales commissions | 4 | % of sales |
| Fixed: | ||
| Advertising | $ | 199,100 |
| Rent | $ | 17,100 |
| Salaries | $ | 105,100 |
| Utilities | $ | 6,100 |
| Insurance | $ | 2,100 |
| Depreciation | $ | 13,100 |
| Insurance is paid on an annual basis, in November of each year. |
| The company plans to purchase $15,300 in new equipment during May and $39,100 in new equipment during June; both purchases will be for cash. The company declares dividends of $10,500 each quarter, payable in the first month of the following quarter. |
| A listing of the company's ledger accounts as of March 31 is given below: |
| Assets | Liabilities and Stockholders' Equity | ||||
| Cash | $ | 150,000 | Accounts payable | $ | 193,600 |
| Accounts receivable ($75,320 February sales; $458,080 March sales) |
533,400 | Dividends payable | 10,500 | ||
| Inventory | 158,160 | Capital stock | 890,000 | ||
| Prepaid insurance | 21,900 | Retained earnings | 589,000 | ||
| Property and equipment (net) | 819,640 | ||||
| Total assets | $ | 1,683,100 | Total liabilities and stockholders' equity | $ | 1,683,100 |
|
The company maintains a minimum cash balance of $30,000. All borrowing is done at the beginning of a month; any repayments are made at the end of a month. |
|
The company has an agreement with a bank that allows the company to borrow in increments of $1,000 at the beginning of each month. The interest rate on these loans is 1% per month and for simplicity we will assume that interest is not compounded. At the end of the quarter, the company would pay the bank all of the accumulated interest on the loan and as much of the loan as possible (in increments of $1,000), while still retaining at least $30,000 in cash. |
| Prepare a master budget for the three-month period ending June 30. Include the following detailed budgets |
| (c) | A merchandise purchases budget in units and in dollars, by month and in total. (Omit the "$" sign in your response.) |
| April | May | June | Quarter | |||||
| Required unit purchases | ||||||||
| Required dollar purchases | $ | $ | $ | $ | ||||
| (d) |
A schedule of expected cash disbursements for merchandise purchases, by month and in total. (Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.) |
| April | May | June | Quarter | |||||
| Accounts payable | $ | $ | $ | $ | ||||
| April purchases | ||||||||
| May purchases | ||||||||
| June purchases | ||||||||
| Total cash payments | $ | $ | $ | $ | ||||
In: Accounting
|
Wildcat, Inc., has estimated sales (in millions) for the next four quarters as follows: |
| Q1 | Q2 | Q3 | Q4 | |||||||||
| Sales | $ | 180 | $ | 200 | $ | 220 | $ | 250 | ||||
|
Sales for the first quarter of the year after this one are projected at $195 million. Accounts receivable at the beginning of the year were $77 million. Wildcat has a 45-day collection period. |
|
Wildcat’s purchases from suppliers in a quarter are equal to 50 percent of the next quarter’s forecast sales, and suppliers are normally paid in 36 days. Wages, taxes, and other expenses run about 25 percent of sales. Interest and dividends are $10 million per quarter. |
|
Wildcat plans a major capital outlay in the second quarter of $85 million. Finally, the company started the year with a $81 million cash balance and wishes to maintain a $40 million minimum balance. |
| a-1. |
Assume that Wildcat can borrow any needed funds on a short-term basis at a rate of 3 percent per quarter and can invest any excess funds in short-term marketable securities at a rate of 2 percent per quarter. Complete the following short-term financial plan for Wildcat. (Enter your answers in millions. Negative amounts should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)) |
| WILDCAT, INC. Short-Term Financial Plan (in millions) |
|||||||||
| Q1 | Q2 | Q3 | Q4 | ||||||
| Target cash balance | $ 40.00 | $ 40.00 | $ 40.00 | $ 40.00 | |||||
| Net cash inflow | |||||||||
| New short-term investments | |||||||||
| Income on short-term investments | |||||||||
| Short-term investments sold | |||||||||
| New short-term borrowing | |||||||||
| Interest on short-term borrowing | |||||||||
| Short-term borrowing repaid | |||||||||
| Ending cash balance | $ | $ | $ | $ | |||||
| Minimum cash balance | |||||||||
| Cumulative surplus (deficit) | $ | $ | $ | $ | |||||
| Beginning short-term investments | $ | $ | $ | $ | |||||
| Ending short-term investments | $ | $ | $ | $ | |||||
| Beginning short-term debt | $ | $ | $ | $ | |||||
| Ending short-term debt | $ | $ | $ | $ | |||||
| a-2. |
What is the net cash cost for the year under this target cash balance? (Negative amount should be indicated by a minus sign. Enter your answers in millions. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Net cash cost | $ |
| b-1. |
Complete the following short-term financial plan assuming that Wildcat maintains a minimum cash balance of $20 million. (Enter your answers in millions. Negative amounts should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)) |
| WILDCAT, INC. Short-Term Financial Plan (in millions) |
|||||||||
| Q1 | Q2 | Q3 | Q4 | ||||||
| Target cash balance | $ 20.00 | $ 20.00 | $ 20.00 | $ 20.00 | |||||
| Net cash inflow | |||||||||
| New short-term investments | |||||||||
| Income on short-term investments | |||||||||
| Short-term investments sold | |||||||||
| New short-term borrowing | |||||||||
| Interest on short-term borrowing | |||||||||
| Short-term borrowing repaid | |||||||||
| Ending cash balance | $ | $ | $ | $ | |||||
| Minimum cash balance | |||||||||
| Cumulative surplus (deficit) | $ | $ | $ | $ | |||||
| Beginning short-term investments | $ | $ | $ | $ | |||||
| Ending short-term investments | $ | $ | $ | $ | |||||
| Beginning short-term debt | $ | $ | $ | $ | |||||
| Ending short-term debt | $ | $ | $ | $ | |||||
| b-2. |
What is the net cash cost for the year under this target cash balance? (Enter your answers in millions. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Net cash cost |
In: Accounting