The earnings, dividends, and stock price of Shelby Inc. are expected to grow at 7% per year in the future. Shelby's common stock sells for $23.50 per share, its last dividend was $2.00, and the company will pay a dividend of $2.14 at the end of the current year. Using the discounted cash flow approach, what is its cost of equity? Round your answer to two decimal places. % If the firm's beta is 0.7, the risk-free rate is 3%, and the expected return on the market is 12%, then what would be the firm's cost of equity based on the CAPM approach? Round your answer to two decimal places. % If the firm's bonds earn a return of 9%, then what would be your estimate of rs using the own-bond-yield-plus-judgmental-risk-premium approach? (Hint: Use the mid-point of the risk premium range.) Round your answer to two decimal places. % On the basis of the results of parts a–c, what would be your estimate of Shelby's cost of equity? Assume Shelby values each approach equally. Round your answer to two decimal places.
In: Finance
The earnings, dividends, and stock price of Shelby Inc. are expected to grow at 4% per year in the future. Shelby's common stock sells for $23 per share, its last dividend was $2.50, and the company will pay a dividend of $2.60 at the end of the current year.
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In: Finance
The assignment: C++ program or Java
You need to use the following programming constructs/data structures on this assignment.
1. A structure named student which contains:
a. int ID; student id;
b. last name; // as either array of char or a string
c. double GPA;
2. An input file containing the information of at least 10 students.
3. An array of struct: read the student information from the input file into the array.
4. A stack: you can use the standard library template for the stack or you can write your own code for the different stack operations. The stack stores elements of type student.
5. Output file containing a duplicate of all output sent to the console.
What to do:
1. Read all students rows from the input file into an array.
2. Store the information about seven different students in the stack: This is intended to initialize the stack.
3. Generate a random number between 1 and 20.
4. If the randomly generated number is even, read one row from the array and store it (push it) into the stack.
5. If the randomly generated number is odd then check If the number is divisible by 3, if so ask the user if they want to quit.
6. If the user selects to continue or the odd number is not divisible by 3 then pop one element from the stack and send it to the output file.,
7. If the stack is not empty and you quit: it will display the number of the students left in the stack, and display the information of each student left in the stack.
8. If you choose to quit, and the stack is empty when a pop is needed, or the array is empty when a push is required then do the following:
a. Display on the console and send to the output file: “The reason for quitting”, how many elements are left on the stack when quitting, and the content of each student record found in the stack when quitting.
In: Computer Science
Registry Java Programming
2) Interface Comparator:
The method for comparing two objects is written outside of the
class of the objects to be sorted. Several methods can be written
for comparing the objects according to different criteria.
Specifically, write three classes, DescriptionComparator,
FirstOccComparator,
and LastOccComparator that implement the interface
java.util.Comparator.
DescriptionComparator implements the interface Comparator.
The
method compare compares the description of two objects. It returns
a negative value if the description of the first object comes
before the description of the second object in the lexicographic
order, 0 if both descriptions are logically the same, and a
positive number if the description of the first object comes after
the description of the second object in the lexicographic
order;
FirstOccComparator implements the interface Comparator. It compares the start time of two events. It returns a negative value if the start time of the first event is before that of the second event, 0 if both start times are logically the same, and a positive number if the start time of the first event is after the start time of the second event;
LastOccComparator implements the interface Comparator. It compares the dates of the last recurrences of two events. It returns a negative value if the date of the last recurrence of the first event is before that of the last recurrence of the second event, 0 if the date of the last recurrence of both events is logically the same, and a positive number if the date the last recurrence of the first event is after the date of the last recurrence of the second event.
In: Computer Science
Bunnings Ltd is considering to invest in one of the two following projects to buy a new equipment. Each equipment will last 5 years and have no salvage value at the end. The company’s required rate of return for all investment projects is 8%. The cash flows of the projects are provided below.
Equipment 1 | Equipment 2 | |
Cost | $186,000 | $195,000 |
Future Cash Flows Year 1 Year 2 Year 3 Year 4 Year 5 | 86 000 93 000 83 000 75 000 55 000 | 97 000 84 000 86 000 75 000 63 000 |
Required:
Identify which option of equipment should the company accept based on Profitability Index?
Identify which option of equipment should the company accept based on discounted pay back method if the payback criterion is maximum 2 years?
In: Finance
Bunnings Ltd is considering to invest in one of the two following projects to buy a new equipment. Each equipment will last 5 years and have no salvage value at the end. The company’s required rate of return for all investment projects is 8%. The cash flows of the projects are provided below.
|
Equipment 1 |
Equipment 2 |
|
|
Cost |
$186,000 |
$195,000 |
|
Future Cash Flows Year 1 Year 4 Year 5 |
86 000 93 000 83 000 75 000 55 000 |
97 000 84 000 86 000 75 000 63 000 |
Required:
a) Identify which option of equipment should the company accept based on Profitability Index?
b) Identify which option of equipment should the company accept based on discounted pay back method if the payback criterion is maximum 2 years?
In: Finance
In this question, we want to create a confidence interval for mu(m) - mu (u), the difference in average Income between the genders: Male and Female. You may use the original data for this, or notice that I’ve included two rows in addition to the Exam1 data which has the incomes broken down by gender.
a) Check the conditions to construct a confidence interval for the difference in these two means.
b) Include the output from Minitab or Statcrunch showing the confidence interval of interest.
c) Interpret the interval in words relating to the original question.
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In: Statistics and Probability
This business decision looks at the impact an externality has on an Investment Choice. A dynamic externality occurs when (as a group) our animals impose a cost on the future provision of the good produced in the commons, that is we can cause environmental damage through overgrazing. There is one pasture we share in common—there are just the two of us using the pasture. On this pasture, milk production as a function of total herd size is as follows:
|
# of animals |
Liters of milk produced |
|
0 |
0 |
|
5 |
10 |
|
10 |
20 |
|
15 |
30 |
|
20 |
36 |
|
25 |
40 |
|
30 |
44 |
As you can see, the amount of milk produced increases with the size of the herd—however, it increases at a decreasing rate.
For each livestock owner, the share of this total milk produced they receive is a function of your share of the total herd. The Price of milk is $1 per liter.
For each animal put on the pasture, it costs $1 in private labor costs. (5 animals costs $5, 10 animals costs $10,…)
So if I have 5 animals and you have 5 animals, my payoff is (5/10)*20-5, or 5. If you had 15 animals and I had 5, then it is (5/20)*36-5, or 4.
a—given no market intervention, what is the Nash Equilibrium if there are two farmers?
b—What is the Pareto Optimal Equilibrium?
c— What would each investor need to do to create the Optimal Equilibrium? Show your work on all answers!
d—This is an arithmetic question—it does not require extremely high level math. If the government wished to maximize its tax revenue on Milk, how much would it charge given the information provided in the introduction (note—you will create a new equilibrium)?
In: Economics
C++ code please:
Write a program that first gets a list of integers from input. The input begins with an integer indicating the number of integers that follow. Then, get the last value from the input, which indicates how much to multiply the array by. Finally, print out the entire array with each element multiplied by the last input.
Assume that the list will always contain less than 20 integers.
Ex: If the input is
4 4 8 -4 12 -1
the output is
-4 -8 4 -12
Ex: If the input is
7 0 1 2 3 4 5 6 3
the output is
0 3 6 9 12 15 18
In: Computer Science
The following incomplete balance sheet for the Sanderson
Manufacturing Company was prepared by the company’s controller. As
accounting manager for Sanderson, you are attempting to reconstruct
and revise the balance sheet.
| SANDERSON MANUFACTURING COMPANY | |||||
| Balance Sheet | |||||
| At December 31, 2018 | |||||
| ($ in 000s) | |||||
| Assets | |||||
| Current assets: | |||||
| Cash | $ | 2,350 | |||
| Accounts receivable | 5,700 | ||||
| Allowance for uncollectible accounts | (1,500 | ) | |||
| Finished goods inventory | 7,100 | ||||
| Prepaid expenses | 2,300 | ||||
| Total current assets | 15,950 | ||||
| Long-term assets: | |||||
| Investments | 4,100 | ||||
| Raw materials and work in process inventory | 3,350 | ||||
| Equipment | 20,000 | ||||
| Accumulated depreciation—equipment | (5,300 | ) | |||
| Patent | ? | ||||
| Total assets | $ | ? | |||
| Liabilities and Shareholders’ Equity | |||||
| Current liabilities: | |||||
| Accounts payable | $ | 6,300 | |||
| Note payable | 6,200 | ||||
| Interest payable—note | 1,200 | ||||
| Deferred revenue | 5,200 | ||||
| Total current liabilities | 18,900 | ||||
| Long-term liabilities: | |||||
| Bonds payable | 6,600 | ||||
| Interest payable—bonds | 500 | ||||
| Shareholders’ equity: | |||||
| Common stock | $ | ? | |||
| Retained earnings | ? | ? | |||
| Total liabilities and shareholders’ equity | ? | ||||
Additional information ($ in 000s):
Certain records that included the account balances for the patent and shareholders’ equity items were lost. However, the controller told you that a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity ratio of 1.3. That is, total liabilities are 130% of total shareholders’ equity. Retained earnings at the beginning of the year was $6,200. Net income for 2018 was $2,100 and $500 in cash dividends were declared and paid to shareholders.
Management intends to sell the investments in the next six months.
Interest on both the note and the bonds is payable annually.
The note payable is due in annual installments of $1,550 each.
Deferred revenue will be recognized as revenue equally over the next two fiscal years.
The common stock represents 500,000 shares of no par stock
authorized, 360,000 shares issued and outstanding.
Required:
Prepare a complete, corrected, classified balance sheet.
(Amounts to be deducted should be indicated by a minus
sign.)
In: Accounting