




已阅读5页,还剩19页未读, 继续免费阅读
版权说明:本文档由用户提供并上传,收益归属内容提供方,若内容存在侵权,请进行举报或认领
文档简介
秋风清,秋月明,落叶聚还散,寒鸦栖复惊。 The following balance sheet and income statement should be used for questions #1 through #5: Windswept, Inc. 2005 Income Statement ($ in millions) Net sales $8,450 Less: Cost of goods sold 7,240 Less: Depreciation (1) Earnings before interest and taxes 810 Less: Interest paid 70 Taxable Income $ 740 Less: Taxes 259 Net income (2) Windswept, Inc. 2004 and 2005 Balance Sheets ($ in millions) 2004 2005 2004 2005 Cash $ 120 $ 140 Accounts payable $1,110 $1,120 Accounts rec. 930 780 Long-term debt 840 1,210 Inventory 1,480 1,520 Common stock 3,200 3,000 Total (3) $2,440 Retained earnings (5) 710 Net fixed asset (4) 3,600 Total assets $5,680 $6,040 Total liabilities Sustainable growth = .0996 b 1- (.0996 b) = .744 = 74.4 percent 87. Neals Nails has an 11 percent return on assets and a 30 percent dividend payout ratio. What is the internal growth rate? a. 7.11 percent b. 7.70 percent c. 8.34 percent d. 8.46 percent e. 11.99 percent I 88. Katelyns Kites has net income of $240 and total equity of $2,000. The debt-equity ratio is 1.0 and the plowback ratio is 40 percent. What is the internal growth rate? a. 2.46 percent b. 3.00 percent c. 4.92 percent d. 5.88 percent e. 6.00 percent 89. Neal Enterprises common stock is currently priced at $36.80 a share. The company is expected to pay $1.20 per share next month as their annual dividend. The dividends have been increasing by 2 percent annually and are expected to continue doing so. What is the cost of equity for Neal Enterprises? a. 5.18 percent b. 5.22 percent c. 5.26 percent d. 5.33 percent e. 5.67 percent 90. You currently own a one-year call option on Way-One, Inc. stock. The current stock price is $26.50 and the risk-free rate of return is 4 percent. Your option has a strike price of $20 and you assume that it will finish in the money. What is the current value of your call option? a. $6.25 b. $6.50 c. $6.76 d. $7.13 e. $7.27 91. The _ tells us that the expected return on a risky asset depends only on that assets nondiversifiable risk. a. Efficient Markets Hypothesis (EMH) b. systematic risk principle c. Open Markets Theorem d. Law of One Price e. principle of diversification 92. The process of valuing an investment by determining the present value of its future cash flows is called (the): a. constant dividend growth model. b. discounted cash flow valuation. c. average accounting valuation. d. expected earnings model. e. Capital Asset Pricing Model. 93. The proportions of the market value of the firms assets financed via debt, common stock, and preferred stock are called the firms: a. financing costs. b. portfolio weights. c. beta coefficients. d. capital structure weights. e. costs of capital. 94. The costs incurred by the firm when new issues of stocks or bonds are sold are called: a. required rates of return. b. costs of capital. c. flotation costs. d. capital structure weights. e. costs of equity and deb 95. A financial contract that gives its owner the right, but not the obligation, to buy or sell a specified asset at an agreed-upon price on or before a given future date is called a(n) _ contract. a. option b. futures c. forward d. swap e. straddle 96. A particular risky assets risk premium, measured relative to its beta coefficient, is its: a. diversifiable risk. b. systematic risk. c. reward-to-risk ratio. d. security market line. e. market risk premium. 97. The overall cost of capital for a retail store: a. is equivalent to the after-tax cost of the firms liabilities. b. should be used as the required return when analyzing a potential acquisition of a wholesale distributor. c. reflects the return investors require on the total assets of the firm. d. remains constant even when the debt-equity ratio changes. e. is unaffected by changes in corporate tax rates 98. The length of time required for an investment to generate cash flows sufficient to recover the initial cost of the investment is called the: a. net present value. b. internal rate of return. c. payback period. d. profitability index. e. discounted cash period 99. You are considering purchasing stock S. This stock has an expected return of 8 percent if the economy booms and 3 percent if the economy goes into a recessionary period. The overall expected rate of return on this stock will: a. be equal to one-half of 8 percent if there is a 50 percent chance of an economic boom. b. vary inversely with the growth of the economy. c. increase as the probability of a recession increases. d. be equal to 75 percent of 8 percent if there is a 75 percent chance of a boom economy. e. increase as the probability of a boom economy increases. 100. A firms overall cost of equity is: I. directly observable in the fina
温馨提示
- 1. 本站所有资源如无特殊说明,都需要本地电脑安装OFFICE2007和PDF阅读器。图纸软件为CAD,CAXA,PROE,UG,SolidWorks等.压缩文件请下载最新的WinRAR软件解压。
- 2. 本站的文档不包含任何第三方提供的附件图纸等,如果需要附件,请联系上传者。文件的所有权益归上传用户所有。
- 3. 本站RAR压缩包中若带图纸,网页内容里面会有图纸预览,若没有图纸预览就没有图纸。
- 4. 未经权益所有人同意不得将文件中的内容挪作商业或盈利用途。
- 5. 人人文库网仅提供信息存储空间,仅对用户上传内容的表现方式做保护处理,对用户上传分享的文档内容本身不做任何修改或编辑,并不能对任何下载内容负责。
- 6. 下载文件中如有侵权或不适当内容,请与我们联系,我们立即纠正。
- 7. 本站不保证下载资源的准确性、安全性和完整性, 同时也不承担用户因使用这些下载资源对自己和他人造成任何形式的伤害或损失。
最新文档
- 青海省邮政管理局直属事业单位招聘考试真题2025
- 亳州交控商业运营管理有限公司招聘考试真题2024
- 城市改造实践报告
- 综合解析人教版八年级上册物理光现象《光的反射》单元测评试卷(含答案详解)
- 考点解析-人教版八年级物理上册第6章质量与密度-质量单元测评试卷(含答案详解)
- 昭通市注册环保工程师考试模拟题库及答案:(大气污染防治专业案例)(2025年)
- 达标测试人教版八年级物理上册第4章光现象-光的色散专题训练练习题
- 考点解析-人教版八年级物理上册第5章透镜及其应用-凸透镜成像的规律专题测试试题(含答案解析)
- 注册环保工程师考试(大气污染防治专业案例)全真模拟题库及答案(2025年淮安)
- 重难点解析人教版八年级物理上册第5章透镜及其应用-透镜专项攻克试卷(含答案详解)
- 大学军事理论课教程第三章军事思想第一节军事思想概述
- 电商合伙人协议合同范本
- 流化床粉尘分级机持料量的控制
- 园艺设施的规划设计与建设
- 尿素水解器的检修标准
- 译林版二年级上册Project1-教案
- 志愿者志愿服务与志愿精神
- 龟虽寿课件-曹操
- 课题开题报告-教学设计教案
- 生活中的地理常识课件
- 两条直线的位置关系-完整版课件
评论
0/150
提交评论