On August 27, 2015, Celgene Corporation acquired all of the outstanding stock of Receptos, Inc., in exchange for $7.6 billion in cash. Referring to Celgene’s 2015 financial statements and its July 14, 2015, press release announcing the acquisition, answer the following questions regarding the Receptos acquisition.

Why did Celgene acquire Receptos?

What accounting method was used, and for what amount, to record the acquisition?

What amount did Celgene include in pre-combination service compensation in the total consideration transferred? What support is provided for this treatment in the Accounting Standards Codification (see ASC 805-30-30, paragraphs 9-13)?

What allocations did Celgene make to the assets acquired and liabilities assumed in the acquisition? Provide a calculation showing how Celgene determined the amount allocated to goodwill.

Describe the nature of the in-process research and development product rights acquired by Celgene in its acquisition of Receptos.

How will Celgene account for the in-process research and development product rights acquired in the Receptos combination?

90. The current stock price of KMW is $27, the risk-free rate of return is 4%, and the standard deviation is 30%. What is the price of a 63-day call option with an exercise price of $25?

Apply Algorithm split on the array 27 ،13، 31،18، 45 ،16، 17، 53 .

The Robinson Corporation has $27 million of bonds outstanding that were issued at a coupon rate of 10.950 percent seven years ago. Interest rates have fallen to 10.250 percent. Mr. Brooks, the Vice-President of Finance, does not expect rates to fall any further. The bonds have 17 years left to maturity, and Mr. Brooks would like to refund the bonds with a new issue of equal amount also having 17 years to maturity. The Robinson Corporation has a tax rate of 30 percent. The underwriting cost on the old issue was 2.70 percent of the total bond value. The underwriting cost on the new issue will be 1.80 percent of the total bond value. The original bond indenture contained a five-year protection against a call, with a call premium of 6 percent starting in the sixth year and scheduled to decline by one-half percent each year thereafter. (Consider the bond to be seven years old for purposes of computing the premium.) Use Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. Assume the discount rate is equal to the aftertax cost of new debt rounded up to the nearest whole percent (e.g. 4.06 percent should be rounded up to 5 percent)

a. Compute the discount rate. (Do not round intermediate calculations. Input your answer as a percent rounded up to the nearest whole percent.)

b. Calculate the present value of total outflows. (Do not round intermediate calculations and round your answer to 2 decimal places.)

c. Calculate the present value of total inflows. (Do not round intermediate calculations and round your answer to 2 decimal places.)

d. Calculate the net present value. (Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places.)

27. What are the typical components of an LP/GP agreement?

28. Explain the key parts of the due diligence process

29. What is hurdle rate

30. Many times valuations are based on multiples of EBIT (or EBITDA), for example, 3XEBIT (3 times EBIT). What the number 3 signifies? Explain the origin of multiple comparable valuations 31. Explain fund vehicles (What is a primary fund, Feeder fund Alternative investment Vehicle parallel fund etc)

32. What is carried interest? What is waterfall distributions? How we calculate waterfall distributions?

33. What are secondaries? Why they are important in the PE market place

34. Describe key principles in the due diligence process

35. What are the post-closing price adjustments and remedies?

36. What is the difference between fund of funds Private equity and a public private equity fund

37. What is deal structuring in private equity

38. Describe typical equity instruments in the deal structuring process for Private equity

39. Describe and differentiate among debt instruments in structuring private equity transactions

40. What are representations and warranties? Where these statements are used?

41. What are covenants and why they are important in private equity transactions

42. Explain indemnification provisions in the Sales and Purchase agreement for a PE fund

43. Explain the components of value creation in a PE transaction

44. What kind of resources are needed for a PE firm to impact value creation. Discuss the role of external and internal resources

45. What is private credit? How you structure a fund to provide private credit

46. Discuss exit paths for a private equity investment

47. What is a GP Catch-up and what is “Clawback” in private equity?

48. There are two types of waterfall calculations. The “European waterfall and the “American waterfall” calculations. Please explain the differences.

49. Often the term co-investing is used in PE. Can you please explain its meaning 50. What is the role of a sponsor in a private equity transaction?

51. What is a closed-end fund? A blind pool?

Lisa Lasher buys 410 shares of stock on margin at $27 per share. If the margin requirement is 50 percent, how much must the stock rise for her to realize a 20-percent return on her invested funds? (Ignore dividends, commissions, and interest on borrowed funds.) Round your answer to the nearest cent.

You have purchased a machine costing

​$27 comma 00027,000.

The machine will be used for two​ years, and at the end of this​ time, its salvage value is expected to be

​$12 comma 00012,000.

The machine will be used

4 comma 0004,000

hours during the first year and

6 comma 0006,000

hours during the second year. The expected annual net savings will be

​$34 comma 00034,000

during the first year and

​$40 comma 00040,000

during the second year. If your interest rate is

1414​%,

what would be the equivalent net savings per machine​ hour?