In: Operations Management
Chiptech, Inc., is an established computer chip firm with several profitable existing products as well as some promising new products in development. The company earned $1 per share last year and just paid out a dividend of $.50 per share. Investors believe the company plans to maintain its dividend payout ratio at 50%. ROE equals 20%. Everyone in the market expects this situation to persist indefinitely. |
a. |
What is the market price of Chiptech stock? The required return for the computer chip industry is 15%, and the company has just gone ex-dividend (i.e., the next dividend will be paid a year from now, at t = 1). (Round your answer to 2 decimal places.) |
Market price | $ |
b. |
Suppose you discover that Chiptech’s competitor has developed a new chip that will eliminate Chiptech’s current technological advantage in this market. This new product, which will be ready to come to the market in two years, will force Chiptech to reduce the prices of its chips to remain competitive. This will decrease ROE to 15%, and, because of falling demand for its product, Chiptech will decrease the plowback ratio to .40. The plowback ratio will be decreased at the end of the second year, at t = 2: The annual year-end dividend for the second year (paid at t = 2) will be 60% of that year’s earnings. What is your estimate of Chiptech’s intrinsic value per share? (Hint: Carefully prepare a table of Chiptech’s earnings and dividends for each of the next three years. Pay close attention to the change in the payout ratio in t = 2.) (Round your answer to 2 decimal places.) |
Book value per share | $ |
No one else in the market perceives the threat to Chiptech’s market. In fact, you are confident that no one else will become aware of the change in Chiptech’s competitive status until the competitor firm publicly announces its discovery near the end of year 2. (Hint: Pay attention to when the market catches on to the new situation. A table of dividends and market prices over time might help.) |
c-1. |
What will be the rate of return on Chiptech stock in the coming year (i.e., between t = 0 and t = 1)? (Do not round intermediate calculations. Round your answer to 2 decimal places.) |
Rate of return | % |
c-2. |
What will be the rate of return on Chiptech stock in the second year (i.e., between t = 1 and t = 2)? (Negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.) |
Rate of return | % |
c-3. |
What will be the rate of return on Chiptech stock in the third year (i.e., between t = 2 and t = 3)? (Do not round intermediate calculations. Round your answer to 2 decimal places.) |
Rate of return | % |
In: Finance
Discuss some of the key national and international standards that provide guidance on IT security management and risk assessment.
In: Computer Science
Part 2: Compare and contrast the strengths and weaknesses of the three types of inventory management systems. Recommend which would be best for an automotive supply company that manufactures small to medium size metal parts such as shocks, struts, control arms, bushings etc. The company is geographically dispersed with 25 different operating locations nationwide.
In: Operations Management
Pat Inc. purchased the $100,000 face value outstanding bonds of Slinger Company, its 80%-owned subsidiary, for $97,000 on January 1, 20X3. The bonds mature on January 1, 20X6. The bonds have a stated interest rate of 8% and were sold for $101,000 on January 1, 20X1. The bonds pay interest each January 1. Amortization of the issue premium and /or discount will be on the straight-line basis. Instruction:
1. Record the entries Slinger Company would make on its books for 20X3
2. Record the entries Pat Inc. would make on its books for 20X3
In: Accounting
In: Finance
Days Past Due | |||||||
Customer | Balance | Not Past Due | 1-30 | 31-60 | 61-90 | 91-120 | over 120 |
---|---|---|---|---|---|---|---|
Subtotals | 553,900 | 307,500 | 132,900 | 60,900 | 20,500 | 18,300 | 13,800 |
The following accounts were unintentionally omitted from the aging schedule:
Customer | Due Date | Balance | ||
---|---|---|---|---|
Arcade Beauty | May 28, 20Y1 | $3,000 | ||
Creative Images | Sept. 7, 20Y1 | 6,200 | ||
Excel Hair Products | Oct. 17, 20Y1 | 800 | ||
First Class Hair Care | Oct. 24, 20Y1 | 2,100 | ||
Golden Images | Nov. 23, 20Y1 | 700 | ||
Oh The Hair | Nov. 29, 20Y1 | 3,600 | ||
One Stop Hair Designs | Dec. 2, 20Y1 | 2,300 | ||
Visions Hair and Nail | Jan. 5, 20Y2 | 7,600 |
Wig Creations has a past history of uncollectible accounts by age category, as follows:
Age Class | Percent Uncollectible | |
---|---|---|
Not past due | 2 | % |
1-30 days past due | 4 | |
31-60 days past due | 12 | |
61-90 days past due | 18 | |
91-120 days past due | 40 | |
Over 120 days past due | 85 |
Required:
1. Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero.
Customer | Due Date | Number of Days Past Due |
Arcade Beauty | May 28, 20Y1 | days |
Creative Images | Sept. 7, 20Y1 | days |
Excel Hair Products | Oct. 17, 20Y1 | days |
First Class Hair Care | Oct. 24, 20Y1 | days |
Golden Images | Nov. 23, 20Y1 | days |
Oh The Hair | Nov. 29, 20Y1 | days |
One Stop Hair Designs | Dec. 2, 20Y1 | days |
Visions Hair and Nail | Jan. 5, 20Y2 | days |
2. Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals. If an amount box does not require an entry, leave it blank.
Wig Creations Company | |||||||
Aging of Receivables Schedule | |||||||
December 31, 20Y1 | |||||||
Customer | Balance | Not Past Due | Days Past Due 1-30 | Days Past Due 31-60 | Days Past Due 61-90 | Days Past Due 91-120 | Days Past Due Over 120 |
Subtotals | |||||||
Arcade Beauty | |||||||
Creative Images | |||||||
Excel Hair Products | |||||||
First Class Hair Care | |||||||
Golden Images | |||||||
Oh The Hair | |||||||
One Stop Hair Designs | |||||||
Visions Hair and Nail | |||||||
Total | |||||||
Percent uncollectible | 2% | 4% | 12% | 18% | 40% | 85% | |
Estimate of uncollectible accounts |
3. Estimate the allowance for doubtful
accounts, based on the aging of receivables schedule.
$
4. Assume that the allowance for doubtful accounts for Wig Creations has a credit balance of $1,820 before adjustment on December 31, 20Y1. Journalize the adjustment for uncollectible accounts.
5. Assume that the adjusting entry in (4) was inadvertently omitted, how would the omission affect the balance sheet and income statement?
On the balance sheet, assets would be by because the allowance for doubtful accounts would be by . In addition, the owner’s capital account would be by because bad debt expense would be and net income by on the income statement.
In: Accounting
Answer the following short questions: [Total: 10
marks]
b) What are 3 differences between lead user and beta user?
In: Operations Management
Assume that stock market returns have the market index as a common factor, and that all stocks in the economy have a beta of 1 on the market index. Firm-specific returns all have a standard deviation of 30%.
Suppose that an analyst studies 20 stocks, and finds that one-half have an alpha of 2%, and the other half an alpha of −2%. Suppose the analyst buys $1 million of an equally weighted portfolio of the positive alpha stocks, and shorts $1 million of an equally weighted portfolio of the negative alpha stocks.
a. What is the expected profit (in dollars) of overall portfolio and standard deviation of the analyst's overall portfolio return?
b. How does your answer on variance and standard deviation of overall portfolio return if the analyst examines 50 stocks instead of 20 stocks?
In: Finance
CSCE 3600: Systems Programming
Recitation Assignment 4 – Bash script
Due: 06:00 PM on Monday October 12 2020
DESCRIPTION: You need to write a bash script to compile and execute a C program. Please feel free to ask for assistance from your TA or fellow classmates, but make sure that you turn in your own work. Please note that you are writing bash scripts, not C programs, for this exercise.
SAMPLE OUTPUT:
$ ./rec04.sh HelloWorld.c
… Output of a compiler
Hello World!
$ ./rec04.sh HelloWorld.c
Hello World!
$ ./rec04.sh
No file provided to run!
REQUIREMENTS:
SUBMISSION: • You will electronically submit your “FirstName_LastName_05.sh” program file to the Recitation 4 Assignment in Canvas by the due date and time.
In: Computer Science
create a python program that ask for a name and birth year separated by a comma. the program should keep prompting until the user inputs 'quit'.
print the dictionary containing the key value pair name:year in the same order they were inputted.
print the name and birth year on a single line for each of the entries.
finally print the dictionary with the key value paris swapped and sorted by birth year. from youngest to oldeest.
In: Computer Science
Discuss the partnership taxation topic of hot assets.
In: Accounting
This is for an ethics class.
Include in the document and presentation the utilitarian ethical philosophy of John Stuart Mill and one other ethical philosopher of your choosing, and use both of those philosophies to bolster your decision or explain why they are not appropriate for this decision.
Make sure you understand the players. There are only 3 people waiting for the organ, not 4. Dr. Doe is not one of them.
Scenario:
Ok, Lead Surgeon, it is time to do what you do best! There is a lot at stake. The decision must be made almost immediately. Like all actions, you will need to write your decision into medical documentation before you begin. Yes, that means YOU! In the limited time before you would begin surgery, you need to consider the cases; the technical issues involved also, and write a Memorandum for the Record to document what decision you made and what considerations you included in your process. This will be on the record, so it needs to be thorough in case it needs to justify your actions at a later date.
Role
You are the Lead Surgeon in a major hospital, and by virtue of your seniority you are also the key decision maker for transplant cases. Right now you have three people who are waiting and hoping for a suitable heart to become available. Your cell phone rings suddenly, and you are notified that a heart has become available-meaning that you need to make a quick yet sound decision about which patient will receive the heart and then schedule surgery for today.
Players:
Jerry
Male, 55 year old family man, mid-level manage
1) Jerry, a father of 3 children and at the age of 55, is in the Ward awaiting a suitable heart for transplanting. His wife Joanie is a stay at home mother with no education beyond high school and no career. Jerry is the middle level manager at a carpet distributing business and 5 year short of his retirement eligibility. Jerry and Joanie have three teenage children aged 14, 16, and 19. The 19 year old is a sophomore at college; the 14 year old is mildly autistic, and the 16 year old is an astronaut wannabe. If Jerry gets the heart, his chances of living another 10-15 years are very high. His heart is damaged due to the use of steroids in his early 20s when he was involved with bodybuilding before the dangers of steroid use were fully known.
2)
Lisa
Female, 12 year old lifelong health issues
Lisa is one of those precocious girls - a doll-like girl at the edge of becoming a teenager. She reads voraciously and yet likes the activities of a younger girl playing with her Barbie Doll. She has suffered health issues all her life due to various viral infections and a lupus-like immune deficiency. Her heart was damaged during a nasty bout with pneumonia last year and actually stopped for a brief period. Her mother knew to begin CPR on her or she would have died there. Even with a transplant, her chances of surviving into her 20s are not good. She is the only child in the family, and they cannot bear more children. Her parents will do anything for her, and they have offered to donate $2 million to the hospital's construction of specialized facilities if she can get a heart soon enough. Her father is also a noted oncologist working in the same hospital but in a different department.
Dr. Doe
Male, 35 year old Lisa's Dad, the oncologist
Dr. Jonathan Doe is Lisa's father. He has offered the hospital $2 Million Dollars in exchange that his daughter gets the heart transplant. He is an up-and-coming oncologist in the same hospital. He is loyal and totally committed to Lisa; while not obnoxious and pushy, his presence is keenly felt around the professional community in the Hospital and there is a need for his $2 Million.
3)
Ozzy
Male, 38 year old homeless drug abuser
Ozzy is a single 38 year old man with no family. He has lived homeless and in shelters for at least a decade. He was brought to the Hospital through the work of a local charity that assists such men with no assets or insurance. His heart condition is due to continued abuse and overdosing of crack cocaine, and without a transplant he will not live out the month. In recent months, has become involved with troubled teens at a local homework and tutoring hangout, and he has provided the wisdom and insight that only an abuser can know about where life can go. He has signed a contract with the same charity that, if he gets the transplant, he will continue working at the after-school homework hangout as a counselor-mentor for at least one year after the transplant. With the transplant and successful staying off the drugs, he could live another 10 years - maybe more. Recidivism is a severe risk with his history of abuse, and if he returns to using crack he would quickly damage the new heart and die within months.
I need
One paragraph on who gets the organ and why
One paragraph on how utilitarian thinking helped or did not help in the decision
One paragraph on how one other theory did or did not help in the decision.
In: Psychology
Make a LandTract class with the following fields:
• length - an int containing the tract's length
• width - an int containing the tract's width
The class should also have the following methods:
• area - returns an int representing the tract's area
• equals - takes another LandTract object as a parameter and
returns a boolean saying
whether or not the two tracts have the same dimensions (This
applies regardless of whether the dimensions match up. i.e., if the
length of the first is the same as the width of the other and vice
versa, that counts as having equal dimensions.)
• toString - returns a String with details about the LandTract
object in the format:
LandTract object with length 30 and width 40
(If, for example, the LandTract object had a length of 30 and a
width of 40.)
Write a separate program that asks the user to enter the dimensions
for the two tracts of
land (in the order length of the first, width of the first, length
of the second, width of the second). The program should print the
output of two tracts' toString methods followed by a sentence
stating whether or not the tracts have equal dimensions. (If the
tracts have the same dimensions, print, "The two tracts have the
same size." Otherwise, print, "The two tracts do not have the same
size.") Print all three statements on separate lines.
In: Computer Science
In the Group Work, once we have calculated (and experimentally determined) our fundamental frequency for our string, how do we find the higher resonant frequencies, or harmonics?
We merely raise the fundamental frequency by the power of the harmonic number: The second harmonic equals the fundamental squared, and so on. |
||
We merely divide the fundamental frequency by the harmonic number: The second harmonic equals 1/2 times the fundamental, and so on. |
||
We merely multiply the fundamental frequency by the harmonic number: The second harmonic equals 2 times the fundamental, and so on. |
||
We merely multiply the fundamental frequency by the log of the harmonic number: The second harmonic equals the fundamental times log 2, and so on. |
In: Physics