Examine the following book-value balance sheet for University Products Inc. The preferred stock currently sells for $30 per share and pays a dividend of $3 a share. The common stock sells for $20 per share and has a beta of 0.7. There are 2 million common shares outstanding. The market risk premium is 12%, the risk-free rate is 8%, and the firm’s tax rate is 40%. BOOK-VALUE BALANCE SHEET (Figures in $ millions) Assets Liabilities and Net Worth Cash and short-term securities $ 1.0 Bonds, coupon = 6%, paid annually (maturity = 10 years, current yield to maturity = 8%) $ 15.0 Accounts receivable 4.0 Preferred stock (par value $20 per share) 3.0 Inventories 8.0 Common stock (par value $0.10) 0.2 Plant and equipment 24.0 Additional paid-in stockholders’ equity 10.8 Retained earnings 8.0 Total $ 37.0 Total $ 37.0 a. What is the market debt-to-value ratio of the firm? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
In: Finance
Water is discharged from a pipe outlet at a rate of 60l/s at 120.8 kPa absolute pressure. All pipes are 15 cm in diameter with a total length of 200 m. The total pipe length on the suction side is 10.8 m. Both reservoirs are big. The water surfaces are exposed to the atmosphere and the difference in their levels is 9 m.
Pipeline friction head loss is 0.086 m per meter length of pipe. On the suction side, fitting loss is 1.3 m while on the delivery side, fitting loss varies with the square of the velocity with K = 1.0.
a) Find the height of the water level above the pipe outlet in the receiving reservoir (m).
b) Find the total head loss of the system (m).
c) What is the hydraulic power (kW)?
d) The water to be pumped has a vapour pressure of 2335 N/m2. The cavitation parameter, s = 0.12. Find the maximum pump height possible above the surface of the water in the supply reservoir (Show clearly the calculation of all heads involved).]
(Atmospheric pressure = 101.3 kPa).
In: Mechanical Engineering
Design a concrete mix for reinforced concrete beams of a structure. The structure is located in a locality wherein water has excess of chlorides in it. Required average compressive strength of concrete has been determined to be 4700 psi. Beams have cross-section of 9 in. x 21 in. reinforced with 4 # 6 bars. Reinforcement has a concrete cover of 1.25 in. and there is a clear space of 1.0 in. between form surface and steel bars. Fine aggregate has bulk specific gravity (SSD) of 2.63; absorption capacity of 1.25%; surface moisture of 3.0% and a fineness modulus of 2.75. Coarse aggregate has bulk specific gravity (SSD) of 2.70; absorption capacity of 2.50 %; surface moisture of 1.75% based on SSD state and dry-rodded unit weight of 110 lb/ft3. Design concrete mix following the step-by-step method of ACI 211.1-91 for the subject beams and tabulate the quantities of ingredient materials in lb/yd3, lb/ft3 and 1.5 lb/ft3. Provide reference of relevant ACI Tables in each step.
In: Civil Engineering
A rigid pavement is to be designed to provide a service life of 20 years and has an initial PSI of 4.4 and a TSI of 2.5. The modulus of subgrade reaction is determined to be 300 lb/in3. For design, the daily car, pickup truck, and light van traffic is 30,000; and the daily truck traffic consists of 300 passes of single-unit trucks with single and tandem axles, and 400 passes of tractor semi-trailer trucks with single, tandem, and triple axles. The weights for cars, pickups, light vans is two -2000 lb single axles, for single unit trucks are 10,000 lb steering, single axle and 22,000 lb drive, tandem axle and for tractor semi-trailer trucksare 12000 lb steering, single axle, 18,000-lb drive, tandem axle and 50,000 lb, trailer, triple axle.Reliability is 95%, the overall standard deviation is 0.45, the concrete modulus of elasticity is 4.5 million ln/in2, the concrete’s modulus of rupture is 900 lb/in2, the load transfer coefficient is 3.2, the drainage coefficient is 1.0. Determine the required slab thickness.
In: Civil Engineering
Assume 400 ft3/min (measured at STP) of a gas mixture (Stream F) at 150 °F and 1.70 atm is fed to a reactor. The mixture consists of 65 mol% methane and 35 mol% ethane. Air (Stream A) at 75 °F and 1.20 atm is fed to the reactor in 20% excess. Aside from the excess air, the flue gas from the reactor contains only CO2 and H2O(vapor), and comes out at 1300 °F and 1.0 atm. Assume all pressures are observed by reading a pressure gauge. Keep the units used in your solution consistent with those in the problem statement.
a). Draw a labeled flowchart. Be sure to show units for all rates and compositions. Use the names (F, A, etc.) given in the description.
b). Calculate the molar flow rate (lbmol/min) of the gas mixture (Stream F) fed to the reactor.
c). Solve for the required volumetric flow rate of the air stream. Express your answer as ft3/min of air at STP conditions.
d). Calculate the volumetric flow rate of the furnace stack gas in units of ft3/min.
In: Other
Wilbur and Orville are brothers. They're both serious investors, but they have different approaches to valuing stocks. Wilbur, the older brother, likes to use the dividend valuation model. Orville prefers the free cash flow to equity valuation model. As it turns out, right now, both of them are looking at the same stock long dash —Wright First Aerodynmaics, Inc. (WFA). The company has been listed on the NYSE for over 50 years and is widely regarded as a mature, rock-solid, dividend-paying stock. The brothers have gathered the following information about WFA's stock:
Current dividend ( D 0) equals =$2.20/share
Current free cash flow ( FCF0) equals =$ 1.0 million
Expected growth rate of dividends and cash flows (g) equals = 7%
Required rate of return (r) equals = 13%
Shares outstanding equals = 550,000 shares
How would Wilbur and Orville each value this stock?
The stock price from Wilbur's valuation is $___ . (Round to the nearest cent.)
The stock price from Orville's valuation is $____. (Round to the nearest cent)
In: Finance
***Please show your math work, thank you!
Assume that stock market returns have the market index as a common factor, and that all stocks in the economy have a beta of 2.0 on the market index. Firm-specific returns all have a standard deviation of 32%.
Suppose that an analyst studies 20 stocks and finds that one-half of them have an alpha of +3.0%, and the other half have an alpha of −3.0%. Suppose the analyst invests $1.0 million in an equally weighted portfolio of the positive alpha stocks, and shorts $1 million of an equally weighted portfolio of the negative alpha stocks.
a. What is the expected profit (in dollars) and standard deviation of the analyst’s profit? (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)
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b. How does your answer change if the analyst examines 50 stocks instead of 20 stocks? 100 stocks? (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)
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In: Finance
Using Pipe-flo or Hydroflo to solve the following problem. (Report the results by including screenshoots )Water is pumped from a low reservoir to a high reservoir that is 20 m higher in elevation. The water is flowing at 1.5 m/s through a 305 mm internal diameter piping system. The water is at 18 degrees C. There are 1,000 m of piping, six standard 45 degree bends, two standard 90 degree bends, a branch flow tee, three gate valves, a swing check valve, a square inlet and a square outlet. The piping and valves are ductile iron, cement lined, with an absolute roughness Ꜫ of 1.0 mm due to chemical deposits. Use hand calculations and show all of your work. a. Calculate the Reynolds Number (NR), the relative roughness (Ꜫ/D), and Darcy’s “f”. b. Calculate the pipe friction loss in m using Darcy’s Equation. c. Calculate the minor losses (entrance, fittings, valves, exit) in m. d. Calculate the total losses (pipe friction plus minor losses) in m.
In: Civil Engineering
using java Design a class named Triangle that extends GeometricObject. The class contains: • Three double data fields named side1, side2, and side3 to denote three sides of a triangle. • A no-arg constructor that creates a default triangle with default values 1.0. • A constructor that creates a triangle with the specified side1, side2, and side3. In a triangle, the sum of any two sides is greater than the other side. The Triangle class must adhere to this rule and throw an IllegalTriangleException object if a triangle is created with sides that violate the rule • The accessor methods for all three data fields. • A method named getArea() that returns the area of this triangle. • A method named getPerimeter() that returns the perimeter of this triangle. • A method named toString() that returns a string description for the triangle. Write a test program that prompts the user to enter three sides of the triangle, a color, and a Boolean value to indicate whether the triangle is filled. The program should create a Triangle object with these sides and set the color and filled properties using the input. The program should display the area, perimeter, color, and true or false to indicate whether it is filled or not.
In: Computer Science
A 50·g ice cube (at 0°C) is placed in an insulated cup with 250·g of water which is at 46°C. The latent heat of fusion for ice is 80·cal/g and the specific heat of water is 1.0·cal/g/°C.
(a) How much heat will the ice have to absorb from the water to completely melt (and turn into 0°C water)? ___ cal.
(b) Find the temperature of the 250·g of water initially at 46°C after it loses the heat required to melt the ice.? ___ °C.
(c) How much heat will the 250·g of warmer water have to transfer to the cooler water in order for its temperature to drop by 1°C? ____ cal.
(d) How much will the temperature of the 50·g of cooler water rise when it gains the heat lost by the warmer water as it cools by 1°C? ____°C.
(e) Using your results from the two previous parts, continue to follow the process of heat transfer between the warmer and cooler water until they come to equilibrium. At what temperature will they reach thermal equilibrium? _____°C.
In: Physics