1. A mineral reserve containing 500,000 tons of lead ore is to be developed with expected production of 15,000 tons per year increasing 7% per year through year 10 by a corporate investor. The estimated net smelter return value of the ore is $100 per ton in year one and is expected to increase $8 per ton in each following year. Royalties are 9% of gross income. A one-time mine development cost of $1,400,000 is to be included at time zero. Expense 70% of the mine development cost at time zero and capitalize the remaining 30% to be amortized over 60 months with a 6-month (6 / 60) amortization deduction at times zero. A mineral rights acquisition cost of $950,000 also will be incurred at time zero (the basis for the cost depletion calculations) along with equipment of $1,800,000 dollars to be depreciated using MACRS depreciations beginning at year one, for a 7-year life with a half year one convention. $1,500,000 will be invested in working capital at year zero for in process inventories, product inventories and accounts receivable. Assume all assets, including inventories, will be liquidated at the end of year 10 for sale value of $1,200,000. Operating cost is $750,000 in year one, escalating 15% per year in the following years. Other income and tax obligation to do not exist with which to use negative taxable income, so losses must be carried forward to make project economics stand alone. Determine the project cash flows for year 0 through 10, assuming 21% effective income tax rate, and calculate the project after-tax DCFROR and NPV for I*equals 12%.

A firm producing computers considers a new investment which is about opening a new plant.

The project’s lifetime is estimated as 5 years and requires 22 million $ as investment cost. Salvage value of the project is estimated as 4 million $ (which will be received in the sixth year) However the firm prefers to show salvage value only as 2 million $. The firm uses 5-year straight-line depreciation.

It is estimated that the sales will be 12 million $ next year and then sales will grow by 20% each year.

It is estimated that fixed costs will be 1.5 million next year and then will grow by 5% each year.

Variable costs are projected %10 of sales each year.

This project, in addition, requires a working capital of $ 3 million in the first year, 4 million in the second year, 4 million in the third year, 3 million in the fourth year and 1.5 million in the fifth year.

Firm plans to use a debt/equity ratio of %50 in this project.

The company can borrow $ loan with an interest cost of 14% before tax. Corporate tax rate is 20%. The shares of this company in NYSE are selling at 8 $ and the stocks have approximately market risk and have a strong correlation with NYSE index. 10- year government bond yields at %12 and market risk premium is %8.

Given this information; find the NPV and IRR of the project; is this project feasible or not?

What is the result of higher WACC ? Can a company reduce its WACC ? If yes, how? Give numerical example related with this project and explain this topic briefly regarding to the capital structure theories.

Please solve this CLEARLY

Andrew Jim Moore. UC Berkeley.

A firm producing digital cameras considers a new investment which is about opening a new plant.

The project’s lifetime is estimated as 5 years and requires 22 million TL as investment cost. Salvage value of the project is estimated as 4 million TL (which will be received in the sixth year) However firm prefers to show salvage value only as 2 million TL. Firm uses 5-year straight line depreciation.

It is estimated that the sales will be 12 million TL next year and then sales will grow by 20% each year.

It is estimated that fixed costs will be 1.5 million next year and then will grow by 5% each year.

Variable costs are projected %10 of sales each year.

This project, in addition, requires a working capital of $ 3 million in the first year, 4 million in the second year, 4 million in third year, 3 million in the fourth year and 1.5 million in the fifth year.

Firm plans to use a debt/equity ratio of %50 in this project.

The company can borrow TL loan with an interest cost of 14% before tax. Corporate tax rate is 20%. The shares of this company in Borsa Istanbul are selling at 8 TL and the stocks have approximately market risk and have strong correlation with BIST100 index. 10- year government bond yields at %12 and market risk premium is %8.

Given this information; find the NPV and IRR of the project; is this project feasible or not?

If you want, you can solve this question using excel.

What is the result of higher WACC ? Can a company reduce its WACC ? If yes, how? Give numerical example related with this project and explain this topic briefly regarding to the capital structure theories.

A firm producing digital cameras considers a new investment which is about opening a new plant. The project’s lifetime is estimated as 5 years and requires 22 million TL as investment cost. Salvage value of the project is estimated as 4 million TL (which will be received in the sixth year) However firm prefers to show salvage value only as 2 million TL. Firm uses 5-year straight line depreciation. It is estimated that the sales will be 12 million TL next year and then sales will grow by 20% each year. It is estimated that fixed costs will be 1.5 million next year and then will grow by 5% each year. Variable costs are projected %10 of sales each year. This project, in addition, requires a working capital of $ 3 million in the first year, 4 million in the second year, 4 million in third year, 3 million in the fourth year and 1.5 million in the fifth year. Firm plans to use a debt/equity ratio of %50 in this project. The company can borrow TL loan with an interest cost of 14% before tax. Corporate tax rate is 20%. The shares of this company in Borsa Istanbul are selling at 8 TL and the stocks have approximately market risk and have strong correlation with BIST100 index. 10- year government bond yields at %12 and market risk premium is %8. Given this information; find the NPV and IRR of the project; is this project feasible or not? If you want, you can solve this question using excel. What is the result of higher WACC ? Can a company reduce its WACC ? If yes, how? Give numerical example related with this project and explain this topic briefly regarding to the capital structure theories.

A firm producing digital cameras considers a new investment which is about opening a new plant.

The project’s lifetime is estimated as 5 years and requires 22 million TL as investment cost. Salvage value of the project is estimated as 4 million TL (which will be received in the sixth year) However firm prefers to show salvage value only as 2 million TL. Firm uses 5-year straight line depreciation.

It is estimated that the sales will be 12 million TL next year and then sales will grow by 20% each year.

It is estimated that fixed costs will be 1.5 million next year and then will grow by 5% each year.

Variable costs are projected %10 of sales each year.

This project, in addition, requires a working capital of 3 million TL in the first year, 4 million TL in the second year, 4 million TL in third year, 3 million TL in the fourth year and 1.5 million in the fifth year.

Firm plans to use a debt/equity ratio of %50 in this project.

The company can borrow TL loan with an interest cost of 14% before tax. Corporate tax rate is 20%. The shares of this company in Borsa Istanbul are selling at 8 TL and the stocks have approximately market risk and have strong correlation with BIST100 index. 10- year government bond yields at %12 and market risk premium is %8.

Given this information; find the NPV and IRR of the project; is this project feasible or not?

If you want, you can solve this question using excel.

What is the result of higher WACC ? Can a company reduce its WACC ? If yes, how? Give numerical example related with this project and explain this topic briefly regarding to the capital structure theories.

7-5

A machine costing $211,400 with a four-year life and an estimated $15,000 salvage value is installed in Luther Company’s factory on January 1. The factory manager estimates the machine will produce 491,000 units of product during its life. It actually produces the following units: 121,600 in 1st year, 123,900 in 2nd year, 120,800 in 3rd year, 134,700 in 4th year. The total number of units produced by the end of year 4 exceeds the original estimate—this difference was not predicted. (The machine must not be depreciated below its estimated salvage value.)

  
Required:

Compute depreciation for each year (and total depreciation of all years combined) for the machine under each depreciation method. (Round your per unit depreciation to 2 decimal places. Round your answers to the nearest whole dollar.)

Compute depreciation for each year (and total depreciation of all years combined) for the machine under each Straight-line depreciation.

Compute depreciation for each year (and total depreciation of all years combined) for the machine under each Units of production.

Compute depreciation for each year (and total depreciation of all years combined) for the machine under each Double-declining-balance.

A machine costing $214,400 with a four-year life and an estimated $18,000 salvage value is installed in Luther Company’s factory on January 1. The factory manager estimates the machine will produce 491,000 units of product during its life. It actually produces the following units: 122,100 in 1st year, 123,200 in 2nd year, 120,600 in 3rd year, 135,100 in 4th year. The total number of units produced by the end of year 4 exceeds the original estimate—this difference was not predicted. (The machine must not be depreciated below its estimated salvage value.)

  
Required:

Compute depreciation for each year (and total depreciation of all years combined) for the machine under each depreciation method. (Round your per unit depreciation to 2 decimal places. Round your answers to the nearest whole dollar.)

Compute depreciation for each year (and total depreciation of all years combined) for the machine under each Straight-line depreciation.

Compute depreciation for each year (and total depreciation of all years combined) for the machine under each Units of production.

• Compute depreciation for each year (and total depreciation of all years combined) for the machine under each Double-declining-balance.

  	DDB Depreciation for the Period End of Period Year Beginning of Period Book Value Depreciation Rate Depreciation Expense Accumulated Depreciation Book Value 1 % $0 2 % 0 3 % 0 4 % 0 $0

Banks offer various types of accounts, such as savings, checking, certificate of deposits, and money market, to attract customers as well as meet with their specific needs. Two of the most commonly used accounts are savings and checking. Each of these accounts has various options. For example, you may have a savings account that requires no minimum balance but has a lower interest rate. Similarly, you may have a checking account that limits the number of checks you may write. Another type of account that is used to save money for the long term is certificate of deposit (CD). In this programming exercise, you use abstract classes and pure virtual functions to design classes to manipulate various types of accounts. For simplicity, assume that the bank offers three types of accounts: savings, checking, and certificate of deposit, as described next. Savings accounts: Suppose that the bank offers two types of savings accounts: one that has no minimum balance and a lower interest rate and another that requires a minimum balance and has a higher interest rate. Checking accounts: Suppose that the bank offers three types of checking accounts: one with a monthly service charge, limited check writing, no minimum balance, and no interest; another with no monthly service charge, a minimum balance requirement, unlimited check writing and lower interest; and a third with no monthly service charge, a higher minimum requirement, a higher interest rate, and unlimited check writing. Certificate of deposit (CD): In an account of this type, money is left for some time, and these accounts draw higher interest rates than savings or checking accounts. Suppose that you purchase a CD for six months. Then we say that the CD will mature in six months. Penalty for early withdrawal is stiff. serviceChargeChecking: A service charge checking account is a checking account. Therefore, it inherits all the properties of a checking account. For simplicity, assume that this type of account does not pay any interest, allows the account holder to write a limited number of checks each month, and does not require any minimum balance. Include appropriate named constants, instance variables, and functions in this class. noServiceChargeChecking: A checking account with no monthly service charge is a checking account. Therefore, it inherits all the properties of a checking account. Furthermore, this type of account pays interest, allows the account holder to write checks, and requires a minimum balance. highInterestChecking: A checking account with high interest is a checking account with no monthly service charge. Therefore, it inherits all the properties of a no service charge checking account. Furthermore, this type of account pays higher interest and requires a higher minimum balance than the no service charge checking account. savingsAccount: A savings account is a bank account. Therefore, it inherits all the properties of a bank account. Furthermore, a savings account also pays interest. highInterestSavings: A high-interest savings account is a savings account. Therefore, it inherits all the properties of a savings account. It also requires a minimum balance. certificateOfDeposit: A certificate of deposit account is a bank account. Therefore, it inherits all the properties of a bank account. In addition, it has instance variables to store the number of CD maturity months, interest rate, and the current CD month. Write the definitions of the classes described in this programming exercise and a program to test your classes.

HIT 251 CODING PRACTICUM (MEDICINE SECTION ENCOUNTERS)

What are the CPT and ICD-10-CM codes?

Date of Exam: 3/16/2012

Time of Exam: 3:20:41 PM

Patient Name: Smith, Anna Anna shows minimal treatment response as of today. Anna continues to exhibit symptoms of a generalized anxiety disorder. Symptoms continue the same in frequency and intensity, and no significant improvement is noted. Symptoms of this disorder occur more days than not. Sleep difficulty continues unchanged. Feelings of increased muscular tension across neck and shoulders continue unchanged. Anna describes feeling irritable. Continuing difficulty concentrating is described. Feelings of fatigue are described as continuing unchanged. Medication has been taken regularly. She has to force herself to socialize with others. A fair night's sleep is described. Sleep was not continuous and not completely restful. Content of Therapy: Anna admitted to feeling overwhelmed and anxious even when completing the smallest project. Becoming easily frustrated was also discussed by the patient. "When will this jumpiness end?" Therapeutic Interventions: The main therapeutic techniques used this session involved helping to identify areas of difficulty and to develop coping skills and to manage stress. This session the therapeutic focus was on improving the patient's self-compassion. Patient will make positive statements regarding self and the ability to cope with the stresses of life. MENTAL STATUS: Anna is irritable, distracted, and fully communicative, casually groomed, and appears anxious. She exhibits speech that is normal in rate, volume, and articulation and is coherent and spontaneous. Language skills are intact. Mood is entirely normal with no signs of depression or mood elevation. Her affect is congruent with mood. There are no signs of hallucinations, delusions, bizarre behaviors, or other indicators of psychotic process. Associations are intact, thinking is logical, and thought content is appropriate. Homicidal ideas or intentions are convincingly denied. Cognitive functioning and fund of knowledge is intact and age appropriate. Short and long term memory is intact, as is ability to abstract and do arithmetic calculations. This patient is fully oriented. Clinically, IQ appears to be in the above average range. Insight into illness is fair. Social judgment is intact. There are signs of anxiety. Anna is fidgety.

DIAGNOSES: Axis I: Generalized Anxiety Disorder (Active) Medicine 016

INSTRUCTIONS / RECOMMENDATIONS / PLAN: Link to Treatment Plan Problem: Anxiety Short Term Goals: Anna will have anxiety symptoms less than 50% of the time for one month. Target Date: 4/25/2012 In addition, Anna will exhibit increased self-confidence as reported by client on a selfreport 0-10 scale weekly for two months. Target Date: 5/23/2012 ---------------------- No progress in reaching these goals or resolving problems was apparent today. Recommend continuing the current intervention and short term goals. It is felt that more time is needed for the intervention to work. Return 1-2 weeks or earlier if needed. Time spent providing psychotherapy services: 45 min Session start: 2:00 PM Session end: 2:50 PM Liz Lobao, MD