Most publicly traded companies are examined by numerous analysts. Locate analysts’ ratings about a company of your choice by visiting a website such as Yahoo Finance (Links to an external site.). Provide a comparison over time and across companies in the same industry by answering the following questions:
In: Finance
In: Accounting
Explain the difference between a strike and a lockout. Include an explanation of different types of strikes, and how the possibility of a stike/lockout can be addressed as part of a labor agreement.
In: Operations Management
General Electric has 10 million shares of common stock with a book value of $1 per share and a current market price of $25 per share. The company’s beta is 1, the risk free rate is 3% and the market rate is 9%. The firm’s outstanding bonds have a total face value of $75 million, a maturity of 10 years, a 4% annual coupon, and are selling currently for 101% of par value. The marginal tax rate is 35%. What discount rate should General Electric use to evaluate its projects? (You MUST show all your work) 21. What is the weight of equity? A) 57.3% B) 42.7% C) 76.7% D) 23.3% 22. What is the weight of debt? A) 57.3% B) 42.7% C) 76.7% D) 23.3% 23. What is the rate of equity? A) 9% B) 3% C) 12% D) 4.5% 24. What is the rate of debt? A) 4.0% B) 3.8% C) 1.9% D) 7.6% 25. What is the discount rate for the firm? A) 7.5% B) 4.1% C) 3.8% D) 2.8%
In: Finance
Almost half of the US states have enacted so-called Right to Work laws. Explain what these laws are, and whether they are fair to unions and union members. Look at the issue from both the union's point of view, and from the point of view of employees who don't want union representation.
In: Operations Management
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Suppose you have been hired as a financial consultant to Defense Electronics, Inc. (DEI), a large, publicly traded firm that is the market share leader in radar detection systems (RDSs). The company is looking at setting up a manufacturing plant overseas to produce a new line of RDSs. This will be a five-year project. The company bought some land three years ago for $3.1 million in anticipation of using it as a toxic dump site for waste chemicals, but it built a piping system to safely discard the chemicals instead. The land was appraised last week for $6.2 million on an aftertax basis. In five years, the aftertax value of the land will be $6.6 million, but the company expects to keep the land for a future project. The company wants to build its new manufacturing plant on this land; the plant and equipment will cost $32.8 million to build. The following market data on DEI’s securities are current: |
| Debt: |
255,000 bonds with a coupon rate of 6.2 percent outstanding, 25 years to maturity, selling for 107 percent of par; the bonds have a $1,000 par value each and make semiannual payments. |
| Common stock: |
9,700,000 shares outstanding, selling for $73.70 per share; the beta is 1.3. |
| Preferred stock: |
475,000 shares of 4 percent preferred stock outstanding, selling for $83.50 per share. The par value is $100. |
| Market: |
6.2 percent expected market risk premium; 3.1 percent risk-free rate. |
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DEI uses G.M. Wharton as its lead underwriter. Wharton charges DEI spreads of 6.5 percent on new common stock issues, 4 percent on new preferred stock issues, and 2 percent on new debt issues. Wharton has included all direct and indirect issuance costs (along with its profit) in setting these spreads. Wharton has recommended to DEI that it raise the funds needed to build the plant by issuing new shares of common stock. DEI’s tax rate is 24 percent. The project requires $1,525,000 in initial net working capital investment to get operational. Assume DEI raises all equity for new projects externally and that the NWC does not require floatation costs.. |
| a. |
Calculate the project’s initial Time 0 cash flow, taking into account all side effects. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole dollar amount, e.g., 1,234,567.) |
| b. | The new RDS project is somewhat riskier than a typical project for DEI, primarily because the plant is being located overseas. Management has told you to use an adjustment factor of +2.5 percent to account for this increased riskiness. Calculate the appropriate discount rate to use when evaluating DEI’s project. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
| c. | The manufacturing plant has an eight-year tax life, and DEI uses straight-line depreciation to a zero salvage value. At the end of the project (that is, the end of Year 5), the plant and equipment can be scrapped for $5.4 million. What is the aftertax salvage value of this plant and equipment? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole dollar amount, e.g., 1,234,567.) |
| d. | The company will incur $7,700,000 in annual fixed costs. The plan is to manufacture 19,600 RDSs per year and sell them at $11,090 per machine; the variable production costs are $9,750 per RDS. What is the annual operating cash flow (OCF) from this project? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole dollar amount, e.g., 1,234,567.) |
| e. | DEI’s comptroller is primarily interested in the impact of DEI’s investments on the bottom line of reported accounting statements. What will you tell her is the accounting break-even quantity of RDSs sold for this project? (Do not round intermediate calculations and round your answer to nearest whole number, e.g., 32.) |
| f. |
Finally, DEI’s president wants you to throw all your calculations, assumptions, and everything else into the report for the chief financial officer; all he wants to know is what the RDS project’s internal rate of return (IRR) and net present value (NPV) are. (Do not round intermediate calculations. Enter your NPV in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89. Enter your IRR as a percent rounded to 2 decimal places, e.g., 32.16.) |
In: Finance
OBJECTIVE
Upon completion of this exercise, you will have demonstrated the ability to:
INTRODUCTION
Your instructor will assign one of the following projects, each involves the user of loops and the construction of conditions to control them.
CODING STANDARDS
The following coding standards must be followed when developing your program:
PROJECTS
DEMONSTRATION/SUBMISSION REQUIREMENTS
In: Computer Science
If a nucleus has mass M, Z protons (mass mp) and N neutrons (mass mn) its binding energy is equal to
In: Physics
1. Is there a place for intuition in science?
2. Why is relying only on self-reported data when doing research problematic?
3. What are some qualities of good scientific research?
In: Psychology
A firm issues $1000 face value bonds, with an 8.5% annual coupon. The bonds have 20 years to maturity and are currently selling with a 7% YTM. The firm is in the 34% tax bracket. What is the price of the bond.
1158.91
845.50
Need more information
1000
In: Finance
Working on an electrochemistry lab and I need to write the following net ionic equations based on the half reactions
Mg + AlCl3; Al + Pb(NO3)2; AgNO3 + Pb; Cu + MgSO4
I am aware of the half reactions for each of the solids, which I will include, but I'm confused about writing the half reactions for the compounds
Mg(aq) + 2e- --> Mg(s)
Al(aq) + 3e- --> Al(s)
Cu2+ (aq) + e- --> Cu+ (aq)
Pb2+ (aq) + 2e- --> Pb(s)
In: Chemistry
Explain what a union is, including who is allowed to join a union, what a shop steward is, types of unions, and why some employers don't want unions.
In: Operations Management
Locate and read a current events or scientific research article on the psychological health benefits of sleep.
Summarize the key findings.
Explain why these findings have important implications for human health
In: Psychology
In: Psychology
In: Operations Management