Questions
Railback Battery Systems Following is the seven-year forecast for a new venture called Railback Battery Systems:...

Railback Battery Systems Following is the seven-year forecast for a new venture called Railback Battery Systems:

Year 2020 2021 2022 2023 2024 2025 2026
EBIT ($1,000) ($900) $200 $1,200 $2,500 $3,000 $3,050
Capital Expenditures $550 $350 $200 $175 $175 $160 $150
Changes in Working Capital $400 $300 $200 $100 $100 ($100) ($100)
Depreciation $40 $80 $125 $150 $150 $150 $150

Part 1:

Beginning after year 2026 the annual growth in EBIT is expected to be 1.5%, a rate that is projected to be constant over Railback's life as an enterprise. Beginning in 2026 Railback's capital expenditures and depreciation are expected to offset each other (capex - depreciation = 0) and year to year changes in working capital are expected to be zero (working capital levels remain constant year over year). For discounting purposes consider 2020 as year 1. Assume a tax rate is 21% and a cost of capital of 7.75% Question: Determine the NPV of Railback Battery Systems Free Cash Flow for the years 2020 - 2026. HINT: Remember to account for loss carry-forwards when determining income taxes. The answer to this question was determined in Excel. Your answer may deviate slightly depending upon differences in truncation and rounding. Answers below are in $000.

Part 2:

Calculate the fair market value (NPV) for Railback Battery Systems. For this problem assume that the Net Present Value of Railback's free cash flow for the period 2020 - 2026 is $3000 (NOTE its not $3000 but make this assumption in case the answer you determined in the first question was incorrect. Assume no underlying changes to any of the data in the problem. DO NOT USE YOUR ANSWER FROM THE QUESTION ABOVE. All ANSWERS ARE IN $000

In: Finance

Amounts are in thousands of dollars (except number of shares and price per share: Kiwi Fruit...

Amounts are in thousands of dollars (except number of shares and price per share:
Kiwi Fruit Company Balance Sheet
  Cash and equivalents $570
  Operating assets 650
  Property, plant, and equipment 2,700
  Other assets 110
  Total assets $4,030
  Current liabilities 920
  Long-term debt 1,280
  Other liabilities 120
  Total liabilities $2,320
  Paid in capital $340
  Retained earnings 1,370
  Total equity $1,710
  Total liabilities and equity $4,030
Kiwi Fruit Company Income Statement
  Net sales 7,800
  Cost of goods sold -5,900
  Gross profit 1,900
  Operating expense -990
  Operating income 910
  Other income 105
  Net interest expense -200
  Pretax income $815
  Income tax -285
  Net income $530
  Earnings per share $2
  Shares outstanding 265,000
  Recent price $34.50
Kiwi Fruit Company Cash Flow Statement
  Net income $530
  Depreciation and amortization 175
  Changes in operating assets -90
  Changes in current liabilities -120
  Operating cash flow $495
  Net additions to properties $180
  Changes in other assets -80
  
  Investing cash flow $100
  Issuance/redemption of long-term debt ($190)
  Dividends paid -220
  Financing cash flow ($410)
  Net cash increase $185

Prepare a pro forma income statement, balance sheet, and cash flow statement for Kiwi Fruit assuming a 10 percent increase in sales. (Leave no cells blank - be certain to enter "0" wherever required. Negative amounts should be indicated by a minus sign. Input all amounts as thousands of dollars. Round earnings per share to 2 decimal places. Omit the "$" sign in your response.)

In: Finance

In re Yukos Oil Company Securities Litigation 2006 WL 3026024 (S.D.N.Y.) FACTS: Yukos is a Moscow-based...

In re Yukos Oil Company Securities Litigation 2006 WL 3026024 (S.D.N.Y.)

FACTS: Yukos is a Moscow-based joint-stock company whose shares trade on the Russian stock exchange. Yukos shares also trade indirectly on multiple European exchanges and over-thecounter in the United States. Allegedly, Khodorkovsky was part of a select group of Russian business leaders known as “oligarchs” who supported former Russian President Boris N. Yeltsin, but were politically opposed to current Russian President Vladimir V. Putin. The Tax Code of the Russian Federation prescribed a maximum income tax rate that incorporated two components: a tax payable to the federal budget and a tax payable to the budget of the taxpayer's local region. For example, in 2004, the statutory maximum rate was 24%, of which up to 6.5% could be collected by the federal government and up to 17.5% by regional governments. The Tax Code also prescribed a minimum rate for taxes payable to regional governments. In 2004, that rate was 13.5%. However, the regional governments could offer tax benefits to reduce or even eliminate the regional budget liability of certain categories of taxpayers. Because of this regional variance in the effective income tax rate, taxpayers in the metropolitan regions of the Russian Federation, such as Moscow, paid higher taxes than taxpayers in remote regions, or “ZATOs.” The complaint alleges that from 2000 through 2003, Yukos grossly underpaid its taxes to the Russian Federation by illegally taking advantage of the ZATOs' preferential tax treatment. According to the complaint, Yukos booked oil sales at “well below” market prices to seventeen trading companies, all of which were registered within ZATOs. Without taking physical possession, the trading companies sold the oil to customers at market prices and claimed the tax benefits of their ZATOs. However, the profits were “funneled ... back to Yukos and Yukos paid taxes only on the initial below-market sales while reaping substantial profits from the low-tax market-price sales. The complaint alleges that the regional trading companies received the benefits of ZATO registration illegitimately because “[n]o business was actually conducted by the sham companies in the ZATOs.” This Yukos tax strategy presented enormous risk because it violated Russian law and because the Russian Federation had prosecuted other companies that had acted similarly. Nonetheless, the risk was not disclosed in any of the Yuko’s filings with the SEC. Also, what was filed with the SEC was allegedly not prepared in conformity with U.S. GAAP or other standards of financial reporting. At a secret meeting with Khodorkovsky and other oligarchs in 2000, Putin promised not to investigate potential wrongdoing at their companies if the oligarchs refrained from opposing Putin. Nearly three years later, at another such meeting, Khodorkovsky allegedly voiced his opinion that high-level officials in Putin's government should be ousted. According to the plaintiffs, Putin reacted negatively and intimated to Khodorkovsky that the Russian Federation might investigate Yukos' methods of acquiring oil reserves. Despite Putin's warnings, Khodorkovsky publicly criticized Putin and financed opposition parties. On October 25, 2003, Russian Federation authorities arrested Khodorkovsky and charged him with fraud, embezzlement and evasion of personal income taxes. Days later, the Russian Government seized control of Khodorkovsky's 44% interest in Yukos as security against the approximately $1 billion he owed in taxes. Concurrently, the Tax Ministry revealed that it had been investigating Yukos' tax strategies. The Department of Information and Public Relations of the General Prosecutors Office then announced charges that accused Khodorkovsky and others of fraudulently operating an illegal scheme at Yukos to avoid tax liability through shell company transactions. On December 29, 2003, the Tax Ministry concluded its audit of Yukos for tax year 2000, issued a report that Yukos had illegally obtained the benefit of the ZATOs’ preferential tax treatment, and owed $3.4 billion to the Russian Federation in back taxes, interest, and penalties for tax year 2000. As a result, Yukos defaulted on a $1 billion loan from private lenders and the Russian Government confiscated Yukos' assets, including its main production facility and billions of dollars from its bank accounts. The price of Yukos securities “plummeted” in response to these events. Shareholders in Yukos (Plaintiffs) filed consolidated class actions against Khodorkovsky and others (defendants) on July 2, 2004. The U.S. plaintiffs had purchased Yukos securities between January 22, 2003, and October 25, 2003. They allege that Yukos, its outside auditor, and certain of its executives and controlling shareholders knowingly concealed the risk that the Russian Federation would take action against Yukos by failing to disclose: (1) that Yukos had employed an illegal tax evasion scheme since 2000; and (2) that Khodorkovsky's political activity exposed the Company to retribution from the current Russian government. The plaintiffs based their claims on the fraud provision, Section 10(b), of the Securities Exchange Act. ISSUE: Does the act of state doctrine prohibit the court from taking the case? DECISION: No. The court dismissed the case on other grounds, but found that the act of state doctrine did not prohibit the court from hearing the case. The case was not one that involved invalidating Russian actions; it was a case to decide whether the company should have been more transparent and forthcoming about the risk of its strategy as well as the political risk in Russia. Questions: 1. Describe how Yukos is alleged to have saved significant amounts in taxes. 2. Explain what act of the Russian Federation is in question. 3. What are the plaintiffs asking the court to decide? Does that decision require revisiting what the Russian Federation did, and why or why not?

In: Economics

One of the responsibilities often associated with management is the gathering of career-specific information on resources...

One of the responsibilities often associated with management is the gathering of career-specific information on resources or professional development. Familiarity with professional sources shows you have interest in your field and invest time to stay current with developments and debates in your industry. Locker 6th ed Business communications..... sources relating to RN nursing.

For this assignment, you will identify credible sources related to your field. You will identify the sources using accurate APA format. Then, for each source, you will write two complete paragraphs that

  1. Summarize the source;
  2. Comment on the source’s benefits and currency.

For your sources, you should include at least one of each of the three following sources:

  1. An academic or professional source from the Keiser e-library database. Avoid single articles, too. Try to identify a database or a journal relevant to your field.
  2. A professional news in your field or a respected commercial site like The New York Times, The Wall Street Journal. An online magazine such as Forbes or Fortune might be appropriate, depending on your field.
  3. An organizational site such as .org, .edu, and .gov site. Examples could include American Medical Association, the National Criminal Justice Association, the American Dairymen's Association, and so forth.

Clue: When using sources, you want to analyze the source of the data, the numbers, and what the words mean to those who may have been surveyed. For your Final e-Portfolio you will include these sources and an introductory paragraph (250 words minimum) on your skills in researching appropriate sources and vetting them for credibility and relevance to your field.

In: Nursing

Please paraphrase the following in your own words. Technological Innovation Next to improving methods of fossil...

Please paraphrase the following in your own words.

Technological Innovation

Next to improving methods of fossil fuel production to reduce climate impact, and biofuels, an important area of investment to be mentioned are new offshore wind parks (solar energy has been abandoned as a major R&D area in 2008). An offshore wind farm (108 MWh) has been developed with energy provider Nuon, 10 km west of the Dutch coast at Egmond aan Zee (5). Shells offshore technical knowledge with oil and gas platforms helped ensure 115 tonne turbines to withstand the harshest weather.

New ways of Stakeholder Engagement

Shell has started to develop close relationships with its external stakeholders. Contacts are maintained with the academic world, governmental bodies and NGO’s. The relationships provide two-way information (informing NGOs about latest Shell news and funnelling information of NGO into the Shell organisation). Shell is performing impact assessments and setting up engagementswith NGO’s and local communities to investigate impact of new upstream projects, in order to provide for a sustainable cooperation with local communities. An example is the project in the Arctic region. In cooperation with IUCN and Wetlands International, Shell is studying implications of construction of new upstream projects on tundra and permafrost environments. Traditional knowledge of Eskimos about ice seasons, whale and seal movements is therefore crucial. It helps Shell to plan better its offshore production, not to disturb traditional fishing and hunting.

In: Economics

1. I am trying to determine the level of measurement of my data type? I am...

1. I am trying to determine the level of measurement of my data type?

I am looking for advice on Nominal, Ordinal, Interval, and Ratio

2. Does the data set have any categorical variables?

I am trying to Describe the data set below in very general terms?

This data consist of 8 variables: Which are

GRE Scores,

TOEFL Scores,

University Rating,

Statement of Purpose,

Letter of Recommendation Strength,

Undergraduate GPA, .

Research Experience, and

Chance of Admit.

Name

Type

Description

GRE Score

numeric

The GRE score gives the student’s result score of a standardized test that is required by universities as part of the admission process.

TOEFL Score

numeric

The TOEFL score gives student’s result score of an English standardized test for foreign students. TOEFL is required examine for non-native students.

University Rating

ranking

The University Ranking is the rank of the institution. Usually is between 1-5. 1 being rank the lowest and 5 being the best.  

SOP

ranking

SOP is the State of Purpose. Which is an essay written by the student that explains why he/she she be accepted.

LOR

ranking

LOR is the Letter of Recommendation. Usually is written by the student’s academic references(such as previous professors, advisors, etc).

CGPA

numeric

CGPA is the students undergraduate Grade Point Average.

Research

numeric

Research variable is used to determine if the student has research experience or not.

Chance of Admit

numeric

Chance of admit is used to determine the students chance of being accepted.

In: Advanced Math

Essay on an ethical issue. You will be writing a brief essay on an ethical issue...

Essay on an ethical issue. You will be writing a brief essay on an ethical issue in
contemporary health. The essay will consist of 1000-1250 words on the topic of Euthanasia,
PAS, and PAD.
Compare and contrast the following countries and their policies regarding; physician aid in
dying (physician assisted suicide – voluntary indirect euthanasia), active euthanasia and
palliative sedation.
1. Canada - CMA
2. The Netherlands - RDMA
3. USA (Oregon) - AMA
What is the current status of the law regarding these topics and what is the general consensus
or stance from; the Canadian Medical Association (CMA), Royal Dutch Medical Association
(RDMA), and American Medical Association (AMA) in regards to these topics.
Outline the issue and why it is relevant within ethics in contemporary health issues (define all
terms, outline why it is an ethical issue in contemporary health, what are the legal
implications (note any current laws about the topic and how they have changed with time)
and indicate your ethical stance on the topic).
After you have outlined all of the concepts, present your personal interpretation and opinion
regarding this topic. Note that opinions should be substantiated with evidence based
research and academic support.
Your essay must include the following sections:
1. General outline of essay – show your thought process and prep work
2. APA title page
3. Introduction (inclusion of a thesis statement)
4. Topic relevance and description
5. Legal implications
6. Personal reflection on ethical stance
7. Conclusion
8. APA reference page

In: Anatomy and Physiology

Student must complete the following questions as per the instructions Discuss the primary factors that motivate...

Student must complete the following questions as per the instructions

Discuss the primary factors that motivate companies to expand internationally. As per your research (not your personal views) is it more profitable for an organization to expand internationally or stay in its home base and provide more employment at home?

Instructions

You must have a minimum of two academically reviewed journal articles sourced from the CU library to support your answer.

Please use full APA throughout (use in-text citations and a APA reference list). Post your responses in the body of the discussion area. DO NOT INCLUDE A WORD DOCUMENT.

Post your initial response no later than Wednesday of week 4 by 11:55pm EST, secondary responses must be posted by Sunday of week 4 by 11:55pm EST. Please note that initial post not completed on the due date will receive zero grade. All late assignments will receive a zero grade (late is considered 1 minute after 11:55pm EST). See class syllabus for late assignment policies. Review discussion/posting requirements.

Students are required to post their primary response (200 word minimum) Students will respond to at least 1 other postings (150 words minimum each).

Read and respond to at least one (1) of your classmates' posts. In your response to your classmates, consider comparing your articles to those of your classmates. Research from academic articles must be included in your responses to classmates post.

In: Economics

State tax incentives are an attractive subject to advance the study of policy enactment and termination...

State tax incentives are an attractive subject to advance the study of policy enactment and termination together, Thom, and Brian, 2016. Policy efforts in this domain attract billions of taxpayer dollars annually and their merit is contested in both academic and political circles. While tax competition is perceived as increasing, extant scholarship offers inconsistent findings with respect to the role of economic and competitive forces in tax incentive diffusion (e.g., Fletcher & Murray, 2006; Hearn, Lacy, & Warshaw, 2014; Leiser, 2015; Miller & Richard, 2010). No study has yet investigated whether or not state governments act strategically with respect to terminating incentive programs, and little is known about what other factors may compel the abandonment of those programs, Thom, and Brian, 2016.

MPI programs comprise a portfolio of tax incentives designed to entice film and television programs from California and New York to other states, where policymakers believed the incentives would create new jobs and diversify state economies. Between 1997 and 2015, 45 states allocated nearly US$10 billion toward MPI programs with, at best, mixed results (Thom, 2016). Eleven of those states have terminated their incentives since 2009, making MPI programs an excellent case of the birth and death of the same program. Do you think that program enactments driven by falling unemployment and national trends drove subsequent terminations? In those states where their impact was overwhelmed by the influence of incentive spending, was the termination likelihood greatly reduced?.

In: Finance

1. Veterinarians often use nonsteriodal anti-inflammatory drugs to treat lameness in horses. A group of veterinary...

1. Veterinarians often use nonsteriodal anti-inflammatory drugs to treat lameness in horses. A group of veterinary researchers wanted to find out how widespread the practice was in the United States. They obtained a list of all veterinarians treating large animals, including horses. They sent questionaires to all the veterinarians on the list. Such a survey is called a census. The response rate was 40%. What is the population of interest? A. Population of interest is all veterinarians treating large animals. B. The population of all veterinarians in the United States treating large animals, including horses. C. The population of interest is all veterinarians. D. All of the answer choices are correct. 2. Researchers have noted that children who learn to play a musical instrument through taking lessons have higher average SAT scores, higher average GPA and higher average class rank. The various measures of academic success described are examples of: A. confounding variables B. Response variables C. None of the answer choices is correct D. Explanatory variables 3. Each month, the census bureau mails survey forms to 250,000 households asking questions about the people living in the household and about such things as motor vehicles and housing costs. Telephone calls are made to households that don't return the form. In one month, responses were obtained from 240,000 of the households contacted. If the household does not return the form and cannot be contacted by telephone, this is: A. undercoverage B. Simple random sampling C. volunteer bias D. nonresponse

In: Statistics and Probability