Financial theory and corporate policy 4th ed

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 1 potx

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 1 potx
... therefore, rC -1 0 = 8% = 6% + 0.5% + DRP 1. 5% = DRP 1- 3 r* = 3%; IP = 3%; rT-2 = 6.2%; MRP2 = ? rT-2 = k* + IP + MRP = 6.2% rT-2 = 3% + 3% + MRP = 6.2% MRP = 0.2% Answers and Solutions: 1- 1- 4 r = r* ... 10 % r5 = 3% + 5% + MRP5 = 10 % Now we can solve for the MRPs, and find the difference: MRP5 = 10 % - 8% = 2% MRP2 = 10 % - 9.5% = 0.5% Difference = (2% - 0.5%) = 1. 5% Answers and Solutions: 1- 1- 6 ... yield curve would be as follows: Answers and Solutions: 1- Interest Rate (%) 11 .0 10 .5 10 .0 9.5 9.0 8.5 LILCO 8.0 7.5 Exxon 7.0 6.5 T-bonds 10 12 14 16 18 20 Years to Maturity b The interest rate...
  • 23
  • 539
  • 2

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 2 doc

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 2 doc
... i=? -7 00 c | percent | +749 10 i=? | +85,000 -2 01 ,22 9 $20 1 ,22 9/$85,000 = 2. 3674 = FVIFi,10; i = 9% i=? | d | | | | | +9,000 -2 ,684.80 -2 ,684.80 -2 ,684.80 -2 ,684.80 $9,000/ $2, 684.80 = 3.3 522 = ... = -4 , PMT = 0, FV = 8, and then solve for I = 7.18% 2- 1 5 i = ? | | | | -8 ,27 3.59 -8 ,27 3.59 -8 ,27 3.59 -8 ,27 3.59 | 85,000 30 • • • | -8 ,27 3.59 $85,000/$8 ,27 3.59 = 10 .27 37 = PVIFAi,n for a 30-year ... = PVIFAi,5; i = 15% Answers and Solutions: - -2 , 684.80 2- 8 a 12% | | | | | | -5 00 FV = ? With a financial calculator, enter N = 5, I = 12, PV = -5 00, and PMT = 0, and then press FV to obtain...
  • 36
  • 498
  • 2

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 3 ppsx

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 3 ppsx
... = 33 .76% Answers and Solutions: - 3- 4 a Tax = $3, 400,000 + ($10,500,000 - $10,000,000)(0 .35 ) = $3, 575,000 b Tax = $1,000,000(0 .35 ) = $35 0,000 c Tax = ($1,000,000)0 .30 (0 .35 ) = $105,000 3- 5 A-T ... requirements are met Answers and Solutions: 3- SOLUTIONS TO END-OF -CHAPTER PROBLEMS 3- 1 Corporate yield = 9%; T = 35 .5% AT yield = 9%(1 - T) = 9%(0.645) = 5.76% 3- 2 Corporate bond yields 8% Municipal ... Answers and Solutions: - 3- 2 The four financial statements contained in most annual reports are the balance sheet, income statement, statement of retained earnings, and statement of cash flows 3- 3 ...
  • 17
  • 495
  • 2

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 4 potx

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 4 potx
... (0.2) (-5 %) + (0 .4) (16%) + (0.2)(25%) + (0.1)(60%) = 11 .40 % σ2 = (-5 0% - 11 .40 %)2(0.1) + (-5 % - 11 .40 %)2(0.2) + (16% - 11 .40 %)2(0 .4) + (25% - 11 .40 %)2(0.2) + (60% - 11 .40 %)2(0.1) σ = 712 .44 ; σ= ... σ= ∑ (r - r ) i i =1 ∧ i Pi σAlta = [ (-2 2.0 - 17 .4) 2(0.1) + (-2 .0 - 17 .4) 2(0.2) + (20.0 - 17 .4) 2(0 .4) + (35.0 - 17 .4) 2(0.2) + (50.0 - 17 .4) 2(0.1)]0.5 = 40 1 .4 = 20.0% Here are the standard deviations ... = 5% + 6%(1.2) = 12.2% 4- 4 rRF = 6%; rM = 13%; b = 0.7; rs = ? rs = rRF + (rM - rRF)b = 6% + (13% - 6%)0.7 = 10.9% Answers and Solutions: - 4- 5 a r m= (0.3)(15%) + (0 .4) (9%) + (0.3)(18%) = 13.5%...
  • 26
  • 314
  • 3

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 5 pptx

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 5 pptx
... Solutions: - SOLUTIONS TO END-OF -CHAPTER PROBLEMS 5- 1 a A plot of the approximate regression line is shown in the following figure: rX (%) 30 25 20 15 10 rY -3 0 -2 0 -1 0 10 20 30 40 50 -5 -1 0 -1 5 -2 0 ... (rHML)di = 7% + (1.1)(6 .5% ) + (5% )(0.7) + (4%) (-0 .3) = 16. 45% Answers and Solutions: - MINI CASE To begin, briefly review the Chapter Mini Case Then, extend your knowledge of risk and return by answering ... with Risk-Free Asset Expected return 15% 10% 5% 0% 0% 5% 10% Risk, σp Mini Case: - 10 15% 20% d Construct a reasonable, but hypothetical, graph which shows risk, as measured by portfolio standard...
  • 19
  • 453
  • 3

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 6 docx

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 6 docx
... date years ( 16 six-month periods) hence 6- 1 4 10-year, 10% annual coupon 10-year zero 5-year zero 30-year zero $100 perpetuity Answers and Solutions: - 10 Price at 8% $1,134.20 463 .19 68 0.58 99.38 ... $1,000(0.3 768 9) = $62 3.11 + $3 76. 89 = $1,000.00 Mini Case: - 24 At a 13 percent required return: V10-YEAR = $50(PVIFA6.5%,20) + $1,000(PVIF6.5%,20) = $50 (( 1- 1/(1+0. 065 )20)/0. 065 ) + $1,000 (1/(1+0. 065 )20) ... Answers and Solutions: - 6- 1 3 a The bonds now have an 8-year, or a 1 6- semiannual period, maturity, and their value is calculated as follows: VB = 16 $50 ∑ (1.03 ) t =1 t + $1,000 (1.03 ) 16 = $50(12. 561 1)...
  • 29
  • 443
  • 2

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 7 ppsx

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 7 ppsx
... $30.00 7- 1 5 a g = $1.1449/$1. 07 - 1.0 = 7% Calculator solution: I = ? I = 7. 00% Input N = 1, PV = -1 . 07, PMT = 0, FV = 1.1449, b $1. 07/ $21.40 = 5% c ∧ r s= D1/P0 + g = $1. 07/ $21.40 + 7% = 5% + 7% ... 0.03) = $ 27. 3188 ≈ $ 27. 32 Answers and Solutions: - 7- 8 Vps = Dps/rps; therefore, rps = Dps/Vps a rps = $8/$60 = 13.3% b rps = $8/$80 = 10% c rps = $8/$100 = 8% d rps = $8/$140 = 5 .7% 7- 9 7- 1 0 D (1 ... | | | | 1.50 g2 = 25% g1 = 6% 1. 875 1.9 875 + 28.393 = 1.9 875 /(0.13 - 0.06) = 30.268 23 .70 4 $25.03 Answers and Solutions: - 7- 1 2 Calculate the dividend stream and place them on a time line Also,...
  • 26
  • 427
  • 3

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 7 potx

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 7 potx
... (0.33 17) (0 .70 71) 0. 077 0 + 0.0 575 = = 0. 573 6 0.2345 d1 = d2 = d1 - (0.33 17) (0 .70 71) = d1 - 0.2345 = 0. 573 6 - 0.2345 = 0.3391 N(d1) = N(0. 573 6) = 0.5000 + 0.2168 = 0 .71 68 N(d2) = N(0.3391) = 0.5000 + 0.13 27 ... - $10.093 = $1.9 07 ≈.$1.91 8-6 Put = V – P + X exp(-rRF t) = $6.56 - $33 + $32 e-0.06(1) = $6.56 - $33 + $30.136 = $3.696 ≈ $3 .70 Answers and Solutions: - SOLUTION TO SPREADSHEET PROBLEMS 8 -7 ... expiration date; (7) exercise value; (8) covered option; (9) naked option; (10) in-the-money call; (11) out-of-the-money call; and (12) LEAPS Answer: A call option is an option to buy a specified number...
  • 10
  • 264
  • 1

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 8 doc

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 8 doc
... thus: Short-term debt Long-term debt Common equity $10,000,000 11.14% 19, 783 ,80 0 22.03 60,000,000 66 .83 $89 , 783 ,80 0 100.00% Answers and Solutions: 9- 9-1 3 Several steps are involved in the solution ... 5%; rs = ? rs = 9-4 D1 + g = + 0.05 = 15% P0 a rd(1 - T) = 13%(1 - 0) = 13.00% b rd(1 - T) = 13%(0 .80 ) = 10.40% c rd(1 - T) = 13%(0.65) = 8. 45% 9-5 rd(1 - T) = 0.12(0.65) = 7 .80 % 9-6 rps = $100(0.11) ... = [D1/(1-F) P0] + g = [3/( 1-0 .10)(30)] + 0.05 = 16.1% 9-1 5 Enter these values: N = 20, PV =1000( 1-0 .02)= 980 , PMT = -9 0( 1-. 4) =-5 4, and FV = -1 000, to get I = 5.57%, which is the after-tax component...
  • 20
  • 398
  • 3

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 10 ppt

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 10 ppt
... %) 10 -1 20 80.5 I RR = % I RR2 = 20% -2 -3 -4 NPV appr oac hes - $4 as t he cost of capi t al appr oaches ∞ -4 Discount Rate 0% 10 50 100 200 300 400 410 420 430 Answers and Solutions: 10 - ... enter 100 STO IRR/YR to obtain IRR = 456.22% Similarly, Excel or Lotus 1-2 -3 can also be used Answers and Solutions: 10 - 13 1 0-9 a Year 2-2 0 Plan B ( $10, 000,000) 1,750,000 1,750,000 Plan A ( $10, 000,000) ... | | 30 30 30 30 30 30 30 30 30 -1 00 30 -1 00 -7 0 Enter these values into the cash flow register: CF0 = -1 00; CF 1-4 = 30; CF5 = -7 0; CF 6-1 0 = 30 Then enter I = 12, and press the NPV key to get NPVA...
  • 46
  • 445
  • 4

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 11 ppt

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 11 ppt
... because the expected NPV of the total project is positive b σ2NPV = 0.24($881,718 - $117 ,779)2 + 0.24 (-$ 185,952 - $117 ,779)2 + 0.12 (-$ 376,709 - $117 ,779)2 + 0.4 (-$ 10,000 - $117 ,779)2 = 198,078,470,853 ... 0.20 (-$ 25) + 0.50($12) + 0.20($20) + 0.05($30) = -$ 3.5 + -$ 5.0 + $6.0 + $4.0 + $1.5 = $3.0 million σNPV= [0.05 (-$ 70 - $3)2 + 0.20 (-$ 25 - $3)2 + 0.50($12 - $3)2 + 0.20($20 - $3)2 + 0.05($30 - $3)2]0.5 ... 4,000,000 1 1-3 Gain on sale = $5,000,000 - $4,000,000 = $1,000,000 Tax on gain = $1,000,000(0.4) = $400,000 AT net salvage value = $5,000,000 - $400,000 = $4,600,000 Answers and Solutions: 11 - 1 1-4 ...
  • 26
  • 682
  • 3

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 12 pdf

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 12 pdf
... Answers and Solutions: 12 - 1 2-4 a 12% | -6 ,200,000 14 • • • | 600,000 15 | | 600,000 600,000 Using a financial calculator, input the following data: CF0 = -6 ,200,000; CF 1-1 5 = 600,000; I = 12; and ... SOLUTIONS TO END-OF -CHAPTER PROBLEMS 1 2-1 a 20 ├─────┼─────┼────── • • • ────┤ -2 0 3 NPV = $1.074 million b Wait year: Tax imposed 50% Prob Tax not imposed 50% Prob -2 0 |r= 13% | | | -2 0 | 2.2 | ... option Answers and Solutions: 12 - 1 2-5 P = PV of all expected future cash flows if project is delayed From Problem 1 5-3 we know that PV @ Year of Tax Imposed scenario is $15.45 and PV @ Year...
  • 19
  • 381
  • 3

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 13 pps

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 13 pps
... owns other businesses such as Frito-Lay, Pizza Hut, Taco Bell, and KFC Answers and Solutions: 13 - SOLUTIONS TO END-OF -CHAPTER PROBLEMS 1 3-1 CA = $3,000,000; CA CA - I = 1.5; = 1.0; CL CL CL = ?; ... increased its current assets Since the company’s current ratio increased, and yet, its quick ratio is unchanged means that the company has increased its inventories Answers and Solutions: 13 - 1 3-4 ... reported to have deliberately used end-of-year or beginning-of-year equity to make returns on equity appear excessive or inadequate Similar problems can arise when a firm is being evaluated 1 3-6 ...
  • 22
  • 244
  • 3

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 14 pot

Financial Management Theory And Practice, Brigham-11th Ed - Chapter 14 pot
... retained earnings c + d + Answers and Solutions: 14 - SOLUTIONS TO END-OF -CHAPTER PROBLEMS 1 4-1 1 4-2 AFN = (A*/S0)∆S - (L*/S0)∆S - MS1(1 - d) ⎛ $3,000,000 ⎞ ⎛ $500,000 ⎞ =⎜ ⎟ $1,000,000 - ⎜ ⎟ ... (A*/S0)∆S - (L*/S0)∆S - MS1(1 - d) ⎛ $300,000 ⎞ = (0.75)∆S - ⎜ ⎟ ∆S -( 0.05)(S1)(1 - 0.6) ⎝ $2,000,000 ⎠ = (0.75)∆S - (0.15)∆S - (0.02)S1 = (0.6)∆S - (0.02)S1 = 0.6(S1 - S0) - (0.02)S1 = 0.6(S1 - $2,000,000) ... economically 1 4-2 Accounts payable, accrued wages, and accrued taxes increase spontaneously and proportionately with sales Retained earnings increase, but not proportionately 1 4-3 The equation...
  • 21
  • 309
  • 2

Xem thêm

Từ khóa: Fundamentals of corporate finance 10e ROSS JORDAN chap011Fundamentals of corporate finance 10e ROSS JORDAN chap014Xây dựng giải pháp bảo mật mạng doanh nghiệp áp dụng cho hệ thống mạng của trường đh kinh tế và quản trị kinh doanh thái nguyênXây dựng website học tiếng anh trực tuyến cho học sinh trường THPT lê quý đôn thái bình200 câu trắc nghiệm lý thuyết môn Hóa Este – Lipit có đáp ánXây dựng website hỗ trợ bán hàng cho công ty TNHH phát triển kỹ thuật tin học BIGBEN thái nguyênThiết kế và điều khiển hệ thống phân bố đều nhiệt trong lò ấp trứng loại nhỏXây dựng và quản trị hệ thống web server trên linuxXây dựng website bán hàng cho công ty thế giới sốXây dựng chương trình quản lý kho cho công ty TNHH sơn nhung – thành phố thái nguyênXây dựng chương trình quản lý nhân sự cho tiểu đoàn 5 – học viện phòng không – không quân – hà nội80 câu trắc nghiệm tích phân và ứng dụng tích phân có đáp ánMẫu hớp đồng lao độngTHIẾT kế hệ THỐNG CISCO SECURE ACCESS CONTROL SERVER tại hệ THỐNG MẠNG hội sở NGÂN HÀNG VIBXây dựng ứng dụng tấn công vô hiệu hóa DHCP server dựa vào gói tin DHCP discoveryluyện thiTHPT quốc gia môn TIẾNGANHthuyet minh quy hoạch hoài phúMẫu hợp đồng công tác thời vụMẫu công ty đánh giá thực tập sinhMột số biện pháp hoạt động hóa người học trong quá trình dạy học chương “phương pháp tọa độ trong mặt phẳng” ở lớp 10 trường THPT
Đăng ký
Đăng nhập