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Use the exchange rate quotations in Figure 21.1 to answer the questions below. Question: If you wish to exchange C$100 for British pounds, how many pounds will you receive? Answer: $100(0.4437) = £ 44.37 Question: You just finished a can of soda outside of the cathedral of Notre Dame. You paid a street vendor 16 French francs for the soda. How ...

26 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 965 | Lượt tải: 0

Inventory Types Raw Materials Work-in-Progress Finished Goods Inventory Costs Storage and tracking costs Insurance and taxes Losses due to obsolescence, deterioration, or theft Opportunity cost of capital on the invested amount

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Each business day, on average, a company writes checks totaling $25,000 to pay its suppliers. The usual clearing time for the cheques is four days. Meanwhile the company is receiving payments from its customers each day, in the form of cheques, totaling $40,000. The cash from the payments is available to the firm after two days. a. Calculate the ...

36 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 942 | Lượt tải: 0

All sales on credit December sales were $95,000 December 31 receivables were $135,000 The average accounts receivable period is 45 days Wages, taxes, and other expenses are 30% of sales Raw materials are ordered two months in advance of sales Raw materials are 50% of sales All purchases on trade credit An annual dividend of $100,000 is expe...

29 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 907 | Lượt tải: 0

“America West Airlines announced today that its Board of Directors has authorized the purchase of up to 2.5 million shares of its Class B common stock on the open market as circumstances warrant over the next two years. . . . “Following the approval of the stock repurchase program by the company’s Board of Directors earlier today, W.A. Franke, cha...

30 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 895 | Lượt tải: 0

Subject to Completion, Dated December 19, 1989 25,000,000 Shares The Reader’s Digest Association, Inc. Class A Nonvoting Common Stock(par value $0.01 per share) Of the 25,000,000 shares of Class A Nonvoting Common Stock offered, 21,000,000 are being offered hereby in the United Sates and 4,000,000 are being offered in a concurrent internation...

29 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 925 | Lượt tải: 0

Capital structure weights 1. Let: E = the market value of the equity. D = the market value of the debt. Then: V = E + D, so E/V + D/V = 100% 2. So the firm’s capital structure weights are E/V and D/V. 3. Interest payments on debt are tax-deductible, so the aftertax cost of debt is the pretax cost multiplied by (1 - corporate tax rate). ...

32 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 1041 | Lượt tải: 0

“Big risks are scary when you cannot diversify them, especially when they are expensive to unload; even the wealthiest families hesitate before deciding which house to buy. Big risks are not scary to investors who can diversify them; big risks are interesting. No single loss will make anyone go broke . . . by making diversification easy and inexpen...

37 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 1005 | Lượt tải: 0

Now let’s use our knowledge of capital market history to make some financial decisions. Consider these questions: Suppose the current T-bill rate is 5%. An investment has “average” risk relative to a typical share of stock. It offers a 10% return. Is this a good investment? Suppose an investment is similar in risk to buying small Canadian company...

31 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 970 | Lượt tải: 0

Since % in OCF = DOL  %  in Q, DOL is a “multiplier” which measures the effect of a change in quantity sold on OCF. For Fairways, let Q = 20,000 buckets. Ignoring taxes, OCF = $14,000 and fixed costs = $40,000, and Fairway’s DOL = 1 + FC/OCF = 1 + $40,000/$14,000 = 3.857. In other words, a 10% increase (decrease) in quantity sold will re...

30 trang | Chia sẻ: thuychi20 | Ngày: 07/04/2020 | Lượt xem: 972 | Lượt tải: 0