With celebrity bonds, celebrities raise money by issuing bonds to investors. The royalties from sales of the music are used to pay interest and principal on the bonds. In April of 2009, EMI announced that it intended to securitize its back catalogue with the help of the Bank of Scotland. The bond was issued with a coupon rate of 6.8% and will mature on this day 34 years from now. The yield on the bond issue is currently 6%.
At what price should this bond trade today, assuming a face value of $1,000 and annual coupons? The price of the bond today should be
.
In: Finance
Merchandising has come a long way from the days when “marks” were carved on silver goblets or earthenware jugs to identify the wares produced by a certain silversmith or potter. Their traditional role was to create a link in the prospective buyer’s mind between the product and the producer. The power of attraction of trade-marks and other “famous brand names” is now recognized as among the most valuable of business assets. However, whatever their commercial evolution, the legal purpose of trade-marks continues (in terms of s. 2 of the Trade-marks Act, R.S.C. 1985, c. T-13 ) to be their use by the owner “to distinguish wares or services manufactured, sold, leased, hired or performed by him from those manufactured, sold, leased, hired or performed by others”. It is a guarantee of origin and inferentially, an assurance to the consumer that the quality will be what he or she has come to associate with a particular trade-mark (as in the case of the mythical “Maytag” repairman).
The BARBIE doll is said by the manufacturer, Mattel Inc. to be
an iconic figure of pop culture. And so, within limits, it is. The
sale of various BARBIE products annually exceeds $1.4 billion
worldwide, representing 35 percent of the appellant’s sales. The
appellant advises that Canadian girls aged 3 to 11 years are given
an average of two BARBIE dolls per year. Mattel was recently
advised that a company is seeking to register trade-marks in
connection with its small chain of Montreal suburban “Barbie’s”
restaurants. Mattel feels the use of the name (albeit in relation
to different wares and services) would likely create confusion in
the marketplace. On a casual acquaintance with both marks, it is
contended, there is a likelihood that consumers would think that
the doll people had something to do with a restaurant called
“Barbie’s”. Or, as Mattel framed its point in a consumer survey by
asking the following question “Do you believe that the company that
makes Barbie dolls might have anything to do with the restaurant
identified by this sign or logo?” (Emphasis added.)
Question:
The matter proceeds to Court. How do you think a court would
rule on the issue and why?
**Please do not copy previous answers. Thank you.
In: Operations Management
Please explain how each of the three elements of the definition of leadership listed below applies to Tim Cook as Apple’s leader.
In: Operations Management
Payback Period and Accounting Rate of Return: Equal
Annual Operating Cash Flows with Disinvestment
Roopali is considering an investment proposal with the following
cash flows:
Initial investment-depreciable assets | $60,000 |
Initial investment-working capital | 6,000 |
Net cash inflows from operations (per year for 10 years) | 11,000 |
Disinvestment-depreciable assets | 5,000 |
Disinvestment-working capital | 2,000 |
For parts b. and c., round answers to three decimal places, if applicable.
a. Determine the payback period.
Answer
years
b. Determine the accounting rate of return on initial
investment
Answer
c. Determine the accounting rate of return on average
investment
Answer
In: Accounting
2- Henrietta is self-employed and would like to know what kind of deduction she could get for her home office. She has gross income from her business of $150,000. Her total home square footage is 2,500. The square footage of her office is 150. Total utilities $600. Total home mortgage interest $10,000. Total real estate taxes $4,000.
In: Accounting
F-I is the answers I need
Stock A and Stock B produced the following returns during the past five years (Year -1 is one year ago, Year -2 is two years ago, and so forth):
Year Stock A’s Returns, Stock B’s Returns,
-1 –18.00% –14.50%
-2 33.00 21.80
-3 15.00 30.50
-4 –0.50 –7.60
-5 27.00 26.30
Year Stock C’s Return, σ
-1 32.00%
-2 –11.75
-3 10.75
-4 32.25
-5 –6.75
Input these values and calculate the average return, standard deviation, and coefficient of variation for Stock C.
In: Finance
What is program sustainability? Discuss key factors of program sustainability. Explain why each factor is essential to program sustainability.
Your response must be at least 200 words
In: Psychology
Calculate the value of a stock with the following expectations for dividend payments: $1.75 in Year 1, $2.00 in Year 2, and then annual dividend growth of 1.5% per year indefinitely. Assume a discount rate of 9%. Solve the problem two different ways: first by using the algebraic formula for the Gordon Growth Model combined with PV of uneven dividend payments, then by using Excel to calculate and sum the dividends and their respective present values for the next 150 years
In: Finance
Locomotive Corporation is planning to repurchase part of its common stock by issuing corporate debt. As a result, the firm’s debt–equity ratio is expected to rise from 40 percent to 50 percent. The firm currently has $3.2 million worth of debt outstanding. The cost of this debt is 7 percent per year. The firm expects to have an EBIT of $1.31 million per year in perpetuity and pays no taxes. |
a. |
What is the market value of the firm before and after the repurchase announcement? (Enter your answers in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) |
Market value | |
Before | $ |
After | $ |
b. |
What is the expected return on the firm’s equity before the announcement of the stock repurchase plan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
Expected return | % |
c. |
What is the expected return on the equity of an otherwise identical all-equity firm? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
Expected return | % |
d. |
What is the expected return on the firm’s equity after the announcement of the stock repurchase plan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
Expected return | % |
In: Finance
Consider the following reaction:
HC2H3O2(aq)+H2O(l)?H3O+(aq)+C2H3O?2(aq)
Kc=1.8
In: Chemistry
Using the data set provided, Make (and state) any necessary assumptions and apply the following forecast methods to the earliest two years of actual data:
Three-period weighted moving average with weights of .50, .30, and .20 and the heaviest weights applied to the more recent data points;
(c) Evaluate the applied forecast methods using : Cumulative forecast error (CFE) Shipments Fasteners
Shipments | Fasteners |
Jan-17 | 335798 |
Feb-17 | 297853 |
Mar-17 | 318399 |
Apr-17 | 311730 |
May-17 | 363876 |
Jun-17 | 296832 |
Jul-17 | 297513 |
Aug-17 | 321144 |
Sep-17 | 317677 |
Oct-17 | 325487 |
Nov-17 | 272937 |
Dec-17 | 276282 |
Jan-18 | 335439 |
Feb-18 | 310514 |
Mar-18 | 407754 |
Apr-18 | 356169 |
May-18 | 345322 |
Jun-18 | 331997 |
Jul-18 | 343059 |
Aug-18 | 350277 |
Sep-18 | 265205 |
Oct-18 | 389332 |
Nov-18 | 310474 |
Dec-18 | 308429 |
Jan-19 | 385807 |
Feb-19 | 332529 |
Mar-19 | 407606 |
Apr-19 | 361946 |
May-19 | 453432 |
Jun-19 | 412892 |
Jul-19 | 447359 |
Aug-19 | 363769 |
Sep-19 | 361232 |
Oct-19 | 451421 |
Nov-19 | 363724 |
Dec-19 | 331619 |
In: Operations Management
Define the following written parts of speech: (a) noun, (b) pronoun, (c) verb, (d) adverb, (e) adjective, (f) preposition, (g) conjunction, (h) interjection.
In: Nursing
In: Operations Management
Assume a par value of $1,000. Caspian Sea plans to issue a 6.00 year, semi-annual pay bond that has a coupon rate of 8.16%. If the yield to maturity for the bond is 7.60%, what will the price of the bond be?
In: Finance
Toolkit Exercise 8.3
Your Development as a Change Agent
Novice change leaders often picture themselves as being in the right and those that oppose them as somehow wrong. This certainty gives them energy and the will to persist in the face of such opposition. It sets up a dynamic of opposition—the more they resist, the more I must try to change them, and so I persuade them more, put more pressure on them, and perhaps resort to whatever power I have to force change.
1. Think of a situation where someone held a different viewpoint than yours. What were your assumptions about that person? Did you believe they just didn’t get it, were wrong headed, perhaps a bit stupid?
Or did you ask yourself, why would they hold the position they have? If you assume they are as rational and as competent as you are, why would they think as they do? Think back to Table 8.2. Are you at stage one, two, three, or four?
2. Are you able to put yourself into the shoes of the resister? Ask yourself: What forces play on that person? What beliefs does he or she have? What criteria is he or she using to evaluate the situation?
3. What are the implications of your self-assessment with respect to what you need to do to develop yourself as a change agent?
In: Operations Management