You are required to use a financial calculator or spreadsheet (Excel) to solve 10 problems related to the risk and return, stocks and bonds valuation. You are required to show the following 3 steps for each problem:
(i) Describe and interpret the assumptions related to the
problem.
(ii) Apply the appropriate mathematical model to solve the
problem.
(iii) Calculate the correct solution to the problem.
1. A $1,000 par value 8-year bond with a 13 percent coupon rate recently sold for $980. What is the yield to maturity if the bond makes semiannual payments? Submit your answer as a percentage rounded to two decimal places.
2. Consider a 7 year bond with face value $1,000 that pays an 8.4% coupon semi-annually and has a yield-to-maturity of 6.9%. What is the approximate percentage change in the price of bond if interest rates in the economy are expected to increase by 0.40% per year? Submit your answer as a percentage and round to two decimal places. (Hint: What is the expected price of the bond before and after the change in interest rates?)
3. Nippon, Inc. expects its current annual $30 per share common stock dividend to remain the same for the foreseeable future. What is the intrinsic value of the stock to an investor with a required return of 9.2%? Round to two decimal places.
In: Finance
Problem 16-7AA FIFO: Process cost summary, equivalent units, cost estimates LO C2, C3, C4, P4
[The following information applies to the questions
displayed below.]
Dengo Co. makes a trail mix in two departments: roasting and
blending. Direct materials are added at the beginning of each
process, and conversion costs are added evenly throughout each
process. The company uses the FIFO method of process costing.
During October, the roasting department completed and transferred
26,000 units to the blending department. Of the units completed,
4,900 were from beginning inventory and the remaining 21,100 were
started and completed during the month. Beginning work in process
was 100% complete with respect to direct materials and 30% complete
with respect to conversion. The company has 4,300 units (100%
complete with respect to direct materials and 70% complete with
respect to conversion) in process at month-end. Information on the
roasting department’s costs of beginning work in process inventory
and costs added during the month follows.
Cost | Direct Materials | Conversion | ||||
Of beginning work in process inventory | $ | 11,800 | $ | 114,390 | ||
Added during the month | 340,360 | 1,487,160 | ||||
Problem 16-7A Part 1
Required:
1. Prepare the roasting department's process cost
summary for October using the FIFO method. (Round "Cost per
EUP" to 2 decimal places.)
|
Problem 16-7A Part 2
2. Prepare the journal entry dated October 31 to transfer the cost of completed units to the blending department. (Do not round your intermediate calculations.)
In: Accounting
Challenge: Dog
Description: Create a Dog class that contains specified properties and methods. Create an instance of Dog and use its methods.
Purpose: This application provides experience with creating classes and instances of objects in C#.
Requirements:
Project Name: Dog
Target Platform: Console
Programming Language: C#
Documentation:
Create a class called Dog.
Dog is to have the following public properties:
Gender is a enum type you need to create that contains Male and Female.
Create a constructor (Links to an external site.) in the class to initialize all of the properties when creating an instance.
Create a method (function in the class) called Bark that takes one parameter that is the number of times to bark and prints “Woof!” that many times to the Console.
Create a method called GetTag that takes no parameters and returns a string. The method returns “If lost, call [owner]. [‘Her’|‘His’] name is [name] and [‘she’|‘he’] is [age] [‘year’|‘years’] old.”
[owner] means replace with the name of the owner.
[‘Her’|‘His’] means choose to display “Her” or “His” based on the gender of the Dog.
[name] means replace with the name of the Dog.
[‘she’|‘he’] means choose to display “she” or “he” based on the gender of the Dog.
[‘year’|‘years’] means to choose to display “year” or “years” depending on the age of the Dog. If age is 1, use “year”. If any other age, use “years”.
In the Main function of the application, test that instances of Dog can be created and that the methods work. In the following, “Orion” is the name of the Dog instance, “Shawn” is the owner, 1 is the age, and Gender.Male is the gender.
Dog puppy = Dog("Orion", "Shawn", 1, Gender.Male); // create object instance puppy.Bark(3); // output: Woof!Woof!Woof! Console.WriteLine(puppy.GetTag()); // output: If lost, call Shawn. His name is Orion and he is 1 year old. Dog myDog = Dog("Lileu", "Dale", 4, Gender.Female); // create object instance myDog.Bark(1); // output: Woof! Console.WriteLine(myDog.GetTag()); // output: If lost, call Dale. Her name is Lileu and she is 4 years old.
Submission
You are to submit a zip file of the project directory for the application you create. The entire project is to be submitted. Find the project folder that holds the Visual Studio project and zip it.
When you finish can you send pictures of the code with spacing
In: Computer Science
Goldberg Company is a retail sporting goods store that uses an accrual accounting system. Facts regarding its operations follow: |
• |
Sales are budgeted at $290,000 for December and $260,000 for January, terms 1/eom, n/60. |
• |
Collections are expected to be 50% in the month of sale and 48% in the month following the sale. Two percent of sales are expected to be uncollectible and recorded in an allowance account at the end of the month of sales. Bad debts expense is included as part of operating expenses. |
• |
Gross margin is 30% of sales. |
• |
All accounts receivable are from credit sales. Bad debts are written off against the allowance account at the end of the month following the month of sale. |
• |
Goldberg desires to have 80% of the merchandise for the following month’s sales on hand at the end of each month. Payment for merchandise is made in the month following the month of purchase. |
• |
Other monthly operating expenses to be paid in cash total $23,200. |
• |
Annual depreciation is $204,000, one-twelfth of which is reflected as part of monthly operating expenses. |
Goldberg Company’s statement of financial position at the close of business on November 30 follows: |
GOLDBERG COMPANY | |||
Statement of Financial Position | |||
November 30, 2016 | |||
Assets | |||
Cash | $ | 24,000 | |
Accounts receivable (net of $4,000 allowance for doubtful accounts) | 68,000 | ||
Inventory | 162,400 | ||
Property, plant, and equipment (net of $640,000 accumulated depreciation) | 1,020,000 | ||
Total assets | $ | 1,274,400 | |
Liabilities and Stockholders’ Equity | |||
Accounts payable | $ | 144,000 | |
Common stock | 800,000 | ||
Retained earnings | 330,400 | ||
Total liabilities and equity | $ | 1,274,400 | |
Required: | |
1. |
What is the total of budgeted cash collections for December? (Do not round intermediate calculations.) |
2. |
How much is the book value of accounts receivable at the end of December? (Do not round intermediate calculations.) |
3. |
How much is the income (loss) before income taxes for December? (Do not round intermediate calculations.) |
4. |
What is the projected balance in inventory on December 31, 2016? (Do not round intermediate calculations.) |
5. |
What are budgeted purchases for December? (Do not round intermediate calculations.) |
6. |
What is the projected balance in accounts payable on December 31, 2016? (Do not round intermediate calculations.) |
In: Accounting
Randomly selected 10 student cars have ages with a mean of 7.2 years and a standard deviation of 3.4 years, while randomly selected 31 faculty cars have ages with a mean of 5.9 years and a standard deviation of 3.5 years.
1. Use a 0.01 significance level to test the claim that student cars are older than faculty cars.
(a) The test statistic is
(b) The critical value is 2.326
(c) Is there sufficient evidence to support the claim that student cars are older than faculty cars? A. No B. Yes
2. Construct a 99% confidence interval estimate of the difference μs−μf, where μs is the mean age of student cars and μf is the mean age of faculty cars. <(μs−μf)<
In: Math
Horizontal rays of red light (λ = 660 nm, in vacuum) and violet light (λ = 410 nm, in vacuum) are incident on the flint-glass prism shown in the drawing. The indices of refraction for the red and violet light are nred = 1.662 and nviolet = 1.698. The prism is surrounded by air. What is the angle of refraction for (a) red ray, (b) violet ray as it emerges from the prism?
In: Physics
Past behavior is one of the best predictors of future crime.
True |
|
False |
In: Psychology
In ‘Market Demand Analysis & Forecasting’ what aspects an asset manager (or an organization) should consider?
In: Operations Management
5.31 Calculating Interest Expense
You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of .9 percent per year, compounded monthly for the first six months, increasing thereafter to 18.5 percent compounded monthly. Assuming you transfer the $10,000 balance from your existing credit card and make no subsequent payments, how much interest will you owe at the end of the first year?
In: Finance
Project Assignment
Construct the Y_bus matrix of a given power network by computer programming, preferably MATLAB. Note that the necessary data are available in the IEEE common data format; and as the working data, you can use the IEEE 14-bus system data.
Due Date: December 26, 2019.
IEEE-Format Data for 14-Bus System
08/19/93 UW ARCHIVE 100.0 1962 W IEEE 14 Bus Test Case BUS DATA FOLLOWS 14 ITEMS 1 Bus 1 HV 1 1 3 1.060 0.0 0.0 0.0 232.4 -16.9 0.0 1.060 0.0 0.0 0.0 0.0 0 2 Bus 2 HV 1 1 2 1.045 -4.98 21.7 12.7 40.0 42.4 0.0 1.045 50.0 -40.0 0.0 0.0 0 3 Bus 3 HV 1 1 2 1.010 -12.72 94.2 19.0 0.0 23.4 0.0 1.010 40.0 0.0 0.0 0.0 0 4 Bus 4 HV 1 1 0 1.019 -10.33 47.8 -3.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 5 Bus 5 HV 1 1 0 1.020 -8.78 7.6 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 6 Bus 6 LV 1 1 2 1.070 -14.22 11.2 7.5 0.0 12.2 0.0 1.070 24.0 -6.0 0.0 0.0 0 7 Bus 7 ZV 1 1 0 1.062 -13.37 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 8 Bus 8 TV 1 1 2 1.090 -13.36 0.0 0.0 0.0 17.4 0.0 1.090 24.0 -6.0 0.0 0.0 0 9 Bus 9 LV 1 1 0 1.056 -14.94 29.5 16.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.19 0 10 Bus 10 LV 1 1 0 1.051 -15.10 9.0 5.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 11 Bus 11 LV 1 1 0 1.057 -14.79 3.5 1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 12 Bus 12 LV 1 1 0 1.055 -15.07 6.1 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 13 Bus 13 LV 1 1 0 1.050 -15.16 13.5 5.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 14 Bus 14 LV 1 1 0 1.036 -16.04 14.9 5.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 -999 BRANCH DATA FOLLOWS 20 ITEMS 1 2 1 1 1 0 0.01938 0.05917 0.0528 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1 5 1 1 1 0 0.05403 0.22304 0.0492 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2 3 1 1 1 0 0.04699 0.19797 0.0438 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2 4 1 1 1 0 0.05811 0.17632 0.0340 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2 5 1 1 1 0 0.05695 0.17388 0.0346 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3 4 1 1 1 0 0.06701 0.17103 0.0128 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4 5 1 1 1 0 0.01335 0.04211 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4 7 1 1 1 0 0.0 0.20912 0.0 0 0 0 0 0 0.978 0.0 0.0 0.0 0.0 0.0 0.0 4 9 1 1 1 0 0.0 0.55618 0.0 0 0 0 0 0 0.969 0.0 0.0 0.0 0.0 0.0 0.0 5 6 1 1 1 0 0.0 0.25202 0.0 0 0 0 0 0 0.932 0.0 0.0 0.0 0.0 0.0 0.0 6 11 1 1 1 0 0.09498 0.19890 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6 12 1 1 1 0 0.12291 0.25581 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6 13 1 1 1 0 0.06615 0.13027 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7 8 1 1 1 0 0.0 0.17615 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7 9 1 1 1 0 0.0 0.11001 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9 10 1 1 1 0 0.03181 0.08450 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9 14 1 1 1 0 0.12711 0.27038 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10 11 1 1 1 0 0.08205 0.19207 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12 13 1 1 1 0 0.22092 0.19988 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13 14 1 1 1 0 0.17093 0.34802 0.0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -999 LOSS ZONES FOLLOWS 1 ITEMS 1 IEEE 14 BUS -99 INTERCHANGE DATA FOLLOWS 1 ITEMS 1 2 Bus 2 HV 0.0 999.99 IEEE14 IEEE 14 Bus Test Case -9 TIE LINES FOLLOWS 0 ITEMS -999 END OF DATA
IEEE Common Data Format
Partial Description of the IEEE Common Data Format for the Exchange of Solved Load Flow Data The complete description can be found in the paper "Common Data Format for the Exchange of Solved Load Flow Data", Working Group on a Common Format for the Exchange of Solved Load Flow Data, _IEEE Transactions on Power Apparatus and Systems_, Vol. PAS-92, No. 6, November/December 1973, pp. 1916-1925. The data file has lines of up to 128 characters. The lines are grouped into sections with section headers. Data items are entered in specific columns. No blank items are allowed, enter zeros instead. Floating point items should have explicit decimal point. No implicit decimal points are used. Data type codes: A - Alphanumeric (no special characters) I - Integer F - Floating point * - Mandatory item Title Data ========== First card in file. Columns 2- 9 Date, in format DD/MM/YY with leading zeros. If no date provided, use 0b/0b/0b where b is blank. Columns 11-30 Originator's name (A) Columns 32-37 MVA Base (F*) Columns 39-42 Year (I) Column 44 Season (S - Summer, W - Winter) Column 46-73 Case identification (A) Bus Data * ========== Section start card *: --------------------- Columns 1-16 BUS DATA FOLLOWS (not clear that any more than BUS in 1-3 is significant) * Columns ?- ? NNNNN ITEMS (column not clear, I would not count on this) Bus data cards *: ----------------- Columns 1- 4 Bus number (I) * Columns 7-17 Name (A) (left justify) * Columns 19-20 Load flow area number (I) Don't use zero! * Columns 21-23 Loss zone number (I) Columns 25-26 Type (I) * 0 - Unregulated (load, PQ) 1 - Hold MVAR generation within voltage limits, (PQ) 2 - Hold voltage within VAR limits (gen, PV) 3 - Hold voltage and angle (swing, V-Theta) (must always have one) Columns 28-33 Final voltage, p.u. (F) * Columns 34-40 Final angle, degrees (F) * Columns 41-49 Load MW (F) * Columns 50-59 Load MVAR (F) * Columns 60-67 Generation MW (F) * Columns 68-75 Generation MVAR (F) * Columns 77-83 Base KV (F) Columns 85-90 Desired volts (pu) (F) (This is desired remote voltage if this bus is controlling another bus. Columns 91-98 Maximum MVAR or voltage limit (F) Columns 99-106 Minimum MVAR or voltage limit (F) Columns 107-114 Shunt conductance G (per unit) (F) * Columns 115-122 Shunt susceptance B (per unit) (F) * Columns 124-127 Remote controlled bus number Section end card: ----------------- Columns 1- 4 -999 Branch Data * ============= Section start card *: --------------------- Columns 1-16 BRANCH DATA FOLLOWS (not clear that any more than BRANCH is significant) * Columns 40?- ? NNNNN ITEMS (column not clear, I would not count on this) Branch data cards *: -------------------- Columns 1- 4 Tap bus number (I) * For transformers or phase shifters, the side of the model the non-unity tap is on Columns 6- 9 Z bus number (I) * For transformers and phase shifters, the side of the model the device impedance is on. Columns 11-12 Load flow area (I) Columns 13-14 Loss zone (I) Column 17 Circuit (I) * (Use 1 for single lines) Column 19 Type (I) * 0 - Transmission line 1 - Fixed tap 2 - Variable tap for voltage control (TCUL, LTC) 3 - Variable tap (turns ratio) for MVAR control 4 - Variable phase angle for MW control (phase shifter) Columns 20-29 Branch resistance R, per unit (F) * Columns 30-40 Branch reactance X, per unit (F) * No zero impedance lines Columns 41-50 Line charging B, per unit (F) * (total line charging, +B) Columns 51-55 Line MVA rating No 1 (I) Left justify! Columns 57-61 Line MVA rating No 2 (I) Left justify! Columns 63-67 Line MVA rating No 3 (I) Left justify! Columns 69-72 Control bus number Column 74 Side (I) 0 - Controlled bus is one of the terminals 1 - Controlled bus is near the tap side 2 - Controlled bus is near the impedance side (Z bus) Columns 77-82 Transformer final turns ratio (F) Columns 84-90 Transformer (phase shifter) final angle (F) Columns 91-97 Minimum tap or phase shift (F) Columns 98-104 Maximum tap or phase shift (F) Columns 106-111 Step size (F) Columns 113-119 Minimum voltage, MVAR or MW limit (F) Columns 120-126 Maximum voltage, MVAR or MW limit (F) Section end card: ----------------- Columns 1- 4 -999 Loss Zone Data ============== Section start card ------------------ Columns 1-16 LOSS ZONES FOLLOWS (not clear that any more than LOSS is significant) Columns 40?- ? NNNNN ITEMS (column not clear, I would not count on this) Loss Zone Cards: ---------------- Columns 1- 3 Loss zone number (I) Columns 5-16 Loss zone name (A) Section end card: ----------------- Columns 1- 3 -99 Interchange Data * ================== Section start card ------------------ Columns 1-16 INTERCHANGE DATA FOLLOWS (not clear that any more than first word is significant). Columns 40?- ? NNNNN ITEMS (column not clear, I would not count on this) Interchange Data Cards *: ------------------------- Columns 1- 2 Area number (I) no zeros! * Columns 4- 7 Interchange slack bus number (I) * Columns 9-20 Alternate swing bus name (A) Columns 21-28 Area interchange export, MW (F) (+ = out) * Columns 30-35 Area interchange tolerance, MW (F) * Columns 38-43 Area code (abbreviated name) (A) * Columns 46-75 Area name (A) Section end card: ----------------- Columns 1- 2 -9 Tie Line Data ============= Section start card ------------------ Columns 1-16 TIE LINES FOLLOW (not clear that any more than TIE is significant) Columns 40?- ? NNNNN ITEMS (column not clear, I would not count on this) Tie Line Cards: --------------- Columns 1- 4 Metered bus number (I) Columns 7-8 Metered area number (I) Columns 11-14 Non-metered bus number (I) Columns 17-18 Non-metered area number (I) Column 21 Circuit number Section end card: ----------------- Columns 1- 3 -999
In: Electrical Engineering
ABC paid a dividend of $3.00 this past year. The dividends are expected to grow at a rate of 20% for the next three years, and at a constant 3% rate thereafter. The required rate of return for investors in this stock is 10%. Calculate the value of this stock today.
In: Finance
What would be appropriate fiscal ( expansionary or contractionary ) policy for our economy right now? and why?
In: Economics
In: Computer Science
Evaluate the following pure-yield pickup swap: You currently hold a 15-year, AA-rated, 8.5% coupon bond priced to yield 11.0%. As a swap candidate, you are considering a 15-year, AA-rated, 10.5% coupon bond priced to yield 12.0%. (Assume reinvestment at 11.0%, $1,000 par value, semiannual coupons.) Do not round intermediate calculations. Round your monetary answers to the nearest cent and percentage answers and value of swap to two decimal places. You may use Appendix C to answer the questions.
Current Bond | Candidate Bond | |
Dollar investment | $ | $ |
Annual coupon | $ | $ |
i on one coupon | $ | $ |
Principal value at year end | $ | $ |
Total accrued | $ | $ |
Realized compound yield | % | % |
Value of swap: basis points in one year
In: Finance
Please provide a PESTEL analysis on Bayer the pharmaceutical company.
In: Economics