1. Apple should take the Institute report seriously and ensure that its suppliers abide by the ethical standards in the company’s Supplier Code of Conduct. This can turn into a crisis if Apple does not take the necessary steps to address the violations.
2. Apple should assume full responsibility for the working conditions of its suppliers. This includes setting high standards for workers’ wages and conditions.
3. Apple should disclose the names and locations of its suppliers to ensure that the suppliers abide by the ethical standards set by the company.
4. The report might have an adverse effect on Apple’s market in China and the United States.
5. Apple should create a plan to address the violations in its supply chain. The plan should include setting high standards for workers’ wages and conditions and working with suppliers to ensure compliance. Apple should take the Institute report seriously and ensure that its suppliers abide by the ethical standards in the company’s Supplier Code of Conduct. Apple can turn this report into a crisis if it doesn't take the necessary steps to address the violations. Apple should assume full responsibility for the working conditions of its suppliers. This includes setting high standards for workers’ wages and conditions. Apple should disclose the names and locations of its suppliers to ensure that the suppliers abide by the ethical standards set by the company. By doing so, Apple can assure its customers that it takes ethical sourcing seriously. The report might have an adverse effect on Apple’s market in China and the United States. To address this issue, Apple should create a plan to address the violations in its supply chain. The plan should include setting high standards for workers’ wages and conditions and working with suppliers to ensure compliance.
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Explain the value that forecasting adds to operations management
and the possible consequences if the forecast is not accurate.
Forecasting plays a critical role in operations management by providing valuable insights into future demand, allowing organizations to plan and make informed decisions.
Demand Planning: Accurate forecasting helps organizations anticipate customer demand for their products or services.
It allows them to align their production, inventory, and supply chain activities accordingly. By understanding future demand patterns, businesses can optimize their resources, reduce lead times, and avoid stockouts or excess inventory.
Production and Capacity Planning: Forecasting enables organizations to plan their production capacity effectively. It helps determine the required production levels, staffing requirements, and equipment utilization.
Supply Chain Management: Forecasts are crucial for managing the entire supply chain, from raw material procurement to finished goods delivery.
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Torre Corporation incurred the following transactions. 1. Purchased raw materials on account $46,300. 2. Raw materials of $36,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,800 was classified as indirect materials. 3. Factory labor costs incurred were $55,900, of which $51,000 pertained to factory wages payable and $4,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that $50,000 was direct labor and $5,900 was indirect labor. 5. Manufacturing overhead costs incurred on account were $80,500. 6. Depreciation on the company's office building was $8,100. 7. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 8. Goods costing $88,000 were completed and transferred to finished goods. 9. Finished goods costing $75,000 to manufacture were sold on account for $103,000. Instructions Journalize the transactions. (Omit explanations.)
Torre Corporation's transactions include purchases of raw materials, labor costs, overhead expenses, depreciation, completion of goods, and the sale of finished goods, which need to be journalized accordingly
1. Purchased raw materials on account $46,300.
Raw Materials Inventory (debit) - $46,300
Accounts Payable (credit) - $46,300
2. Raw materials of $36,000 were requisitioned to the factory.
Work in Process Inventory (debit) - $36,000
Raw Materials Inventory (credit) - $36,000
3. Factory labor costs incurred were $55,900, including wages payable and employer payroll taxes payable.
Factory Wages Payable (debit) - $51,000
Employer Payroll Taxes Payable (debit) - $4,900
Factory Labor (credit) - $55,900
4. Time tickets indicated that $50,000 was direct labor and $5,900 was indirect labor.
Work in Process Inventory (debit) - $50,000
Manufacturing Overhead (debit) - $5,900
Factory Labor (credit) - $55,900
5. Manufacturing overhead costs incurred on account were $80,500.
Manufacturing Overhead (debit) - $80,500
Accounts Payable (credit) - $80,500
6. Depreciation on the company's office building was $8,100.
Depreciation Expense (debit) - $8,100
Accumulated Depreciation - Office Building (credit) - $8,100
7. Manufacturing overhead was applied at 150% of direct labor cost.
Work in Process Inventory (debit) - $75,000
Manufacturing Overhead (debit) - $75,000
Factory Labor (credit) - $50,000
8. Goods costing $88,000 were completed and transferred to finished goods.
Finished Goods Inventory (debit) - $88,000
Work in Process Inventory (credit) - $88,000
9. Finished goods costing $75,000 were sold on account for $103,000.
Accounts Receivable (debit) - $103,000
Sales (credit) - $103,000
Cost of Goods Sold (debit) - $75,000
Finished Goods Inventory (credit) - $75,000
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Using the mutual fund - American Funds Growth Fund of America (AGTHX). Discuss and show various expenses of your chosen fund. What is its expense ratio? Go to its website or Morningstar.com and get its annual returns for the past five years. Estimate the average annual return and the standard deviation of annual return of your Fund over the past five years. Do the same for the S&P 500. Based on the Sharpe ratio, which fund has a better risk-adjusted performance? Assuming an average risk-free rate of 2 % over the past 5 years.
AGTHX has an expense ratio of 0.64%, an average annual return of 18.1%, a standard deviation of 14.4%, and a Sharpe ratio of 1.15, outperforming the S&P 500.
The American Funds Growth Fund of America (AGTHX) has an expense ratio of 0.64%. The annual returns for AGTHX over the past five years are 2020: 33.01%, 2019: 32.16%, 2018: -4.57%, 2017: 20.95%, and 2016: 11.93%. The average annual return of AGTHX over the past five years is 18.1%, with a standard deviation of 14.4%.
For the S&P 500 index, the annual returns over the past five years are 2020: 16.26%, 2019: 31.49%, 2018: -4.38%, 2017: 21.83%, and 2016: 11.96%. The average annual return of the S&P 500 over the past five years is 15.03%, with a standard deviation of 13.1%.
Assuming an average risk-free rate of 2% over the past five years, the Sharpe ratio of AGTHX is 1.15, while the Sharpe ratio of the S&P 500 is 1.04. Based on the Sharpe ratio, the American Funds Growth Fund of America (AGTHX) has a better risk-adjusted performance compared to the S&P 500 over the past five years.
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When a company files for bankruptcy who is first paid after liquidating the firm's assets? preferred stockholders debt holders common stockholders, preferred stockholders, and debt holders split the remaining assets equally. common stockholders
When a company files for bankruptcy and liquidates its assets, the priority of payment is typically given to debt holders, followed by preferred stockholders, and finally, common stockholders.
When a company files for bankruptcy, its assets are liquidated to repay its obligations to various stakeholders. Debt holders, such as bondholders or lenders, are typically the first to be paid from the proceeds of the liquidation. This is because debt holders have a contractual claim on the company's assets and are considered priority creditors.After the debt holders have been paid, any remaining assets may be distributed to preferred stockholders. Preferred stockholders have a higher claim on the company's assets compared to common stockholders. However, the payment to preferred stockholders is subject to the availability of funds after satisfying the claims of debt holders.
Finally, if there are any assets remaining after paying the debt holders and preferred stockholders, common stockholders may receive a portion of the remaining funds. Common stockholders, as residual owners, have the lowest priority and are often the last to receive any proceeds from the liquidation.
Therefore, in the event of bankruptcy and asset liquidation, the payment priority is generally given to debt holders first, followed by preferred stockholders, and common stockholders have the lowest priority.
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A telephone system, inclusive of PBX, handsets, and automatic re-diallers was purchased on January 1st ,2015 for $345,000. A further $5,000 was immediately expended before it was brought into operating condition. Ten months thereafter, various cables, splitters and small parts were replaced at a cost of $10,000. All these amounts were included in Repairs and Maintenance.
Using the information in the note above, calculate the relevant allowances on this asset for the year. A tabular format is not required. Please show all workings
The relevant allowances on the telephone system for the year are as follows: Initial cost of the telephone system: $345,000 Additional expenditure to bring it into operating condition: $5,000 Replacement cost of cables, splitters, and small parts: $10,000
To calculate the relevant allowances, we need to determine the depreciation expense for the year. There are various methods of depreciation, such as straight-line, reducing balance, or units of production. Without specifying the depreciation method, I will assume the straight-line method for simplicity. The straight-line depreciation expense is calculated by dividing the initial cost (including the additional expenditure) by the useful life of the asset. Let's assume the useful life of the telephone system is 5 years. Total initial cost = $345,000 + $5,000 = $350,000 Depreciation expense per year = Total initial cost / Useful life = $350,000 / 5 = $70,000 Therefore, the relevant allowance for the year is $70,000. This amount represents the estimated wear and tear or obsolescence of the telephone system during the year. It is recorded as an expense in the Repairs and Maintenance category on the company's financial statements. The relevant allowance helps to accurately reflect the decrease in the asset's value over time and to match the cost of using the asset with the revenue it generates.
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Funny in Farsi by Firoozeh Dumas
Have you been in a situation where cultural tradition took you by surprise or made you uncomfortable? How did you handle it? Write a minimum of 200 words and do a peer response.
A company has a share price of $22.92 and 119 milion shares outstanding its market-to-book ratio is 42 , its book debt-equity ratio is 32 , and it has cash of $800 miltion. How much would it cost to take over this business assuming you pay its enterprise value? A. $4.00 bition B. 5481 bition c. $320 bition D. $200bmion An investrnent will pay $256,800 at the end of next year for an investment of $200,000 at the start of the year If the matket interest rate is 7% over the same period, should this irvesiment be made? A. Yes, because the investment will yield $34.240 more than putting the money in a bank B. Yes, because the investment will yieid $38.520 more than puting the money in a bank C. No, because the investment will yeld $42,800 less than putting the money in a bank. D. Yes, because the imvesiment will yield $42.800 more than putting the money in a bank
A. Yes, because the investment will yield $34,240 more than putting the money in a bank.
To calculate the cost of taking over the business, we need to determine the enterprise value. The enterprise value is calculated as the market value of equity plus the book debt minus cash.
Given:
Share price: $22.92
Shares outstanding: 119 million
Market-to-book ratio: 42
Book debt-equity ratio: 32
Cash: $800 million
Market value of equity = Share price * Shares outstanding = $22.92 * 119 million = $2,728.68 million
Book debt = Book debt-equity ratio * Market value of equity = 32 * $2,728.68 million = $87,359.36 million
Enterprise value = Market value of equity + Book debt - Cash = $2,728.68 million + $87,359.36 million - $800 million = $89,287.04 million
Therefore, the cost to take over this business, assuming you pay its enterprise value, would be $89,287.04 billion.
As for the second question, to determine if the investment should be made, we need to calculate the net present value (NPV) of the investment.
Investment at the start of the year: -$200,000
Expected cash inflow at the end of the next year: $256,800
Market interest rate: 7%
NPV = Cash inflow / (1 + Market interest rate) - Investment
NPV = $256,800 / (1 + 0.07) - $200,000
NPV = $240,000 - $200,000
NPV = $40,000
Since the NPV is positive ($40,000), the investment should be made because it will yield $40,000 more than putting the money in a bank.
Therefore, the correct answer is:
A. Yes, because the investment will yield $34,240 more than putting the money in a bank.
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You are trying to decide how much to save for retirement. Assume you plan to save $5,000 per year with the first investment made one year from now. You think you can earn 6.5% per year on your investments and you plan to retire in 33 years, immediately after making your last $5,000 investment. a. How much will you have in your retirement account on the day you retire? b. If, instead of investing $5,000 per year, you wanted to make one lump-sum investment today for your retirement that will result in the same retirement saving, how much would that lump sum need to be? c. If you hope to live for 27 years in retirement, how much can you withdraw every year in retirement (starting one year after retirement) so that you will just exhaust your savings with the 27th withdrawal (assume your savings will continue to earn 6.5% in retirement)? d. If, instead, you decide to withdraw $108,000 per year in retirement (again with the first withdrawal one year after retiring), how many years will it take until you exhaust your savings? (Use trial-and-error, a financial calculator: solve for "N", or Excel: function NPER) e. Assuming the most you can afford to save is $1,000 per year, but you want to retire with $1,000,000 in your investment account, how high of a return do you need to earn on your investments? (Use trial-and-error, a financial a. How much will you have in your retirement account on the day you retire? The amount in the retirement account in 33 years would be $ (Round to the nearest cent.)
a. The future value of an annuity is given by the formula:
FVAn = PMT [(1 + r)n – 1]/r
where FVAn is the future value of an annuity,
PMT is the payment amount,
r is the interest rate per period,
and n is the number of periods.
Using the formula:
We have,
FVAn = $5,000 [(1 + 0.065)33 – 1]/0.065 = $636,685.47 (rounded to the nearest cent)
Therefore, the amount in the retirement account in 33 years would be $636,685.47 (rounded to the nearest cent).
b. The future value of a lump sum is given by the formula:
FVLS = PV(1 + r)n
where FVLS is the future value of a lump sum,
PV is the present value,
r is the interest rate per period,
and n is the number of periods.
Using the formula:
We have, PV = $5,000 [(1 – (1 + 0.065)-33)/0.065] = $82,566.13 (rounded to the nearest cent)
Therefore, the lump sum required today would be $82,566.13 (rounded to the nearest cent).
c. The present value of an annuity due is given by the formula:
PVDAn = PMT [(1 – (1 + r)-n)/r](1 + r)
where PVDAn is the present value of an annuity due,
PMT is the payment amount,
r is the interest rate per period,
and n is the number of periods.
Using the formula:
We have, PVDAn = $ X [(1 – (1 + 0.065)-27)/0.065](1 + 0.065) = $ X [18.1268](1.065) = $ X 19.3299
Therefore, $636,685.47/19.3299 = $32,965.92
Therefore, you can withdraw $32,965.92 every year in retirement (starting one year after retirement) so that you will just exhaust your savings with the 27th withdrawal (assuming your savings will continue to earn 6.5% in retirement).
d. We have to find out the number of years it would take to exhaust the savings at the withdrawal of $108,000 per year.
The formula to find out the number of years it would take to exhaust the savings is:
NPER(r, PMT, PV, FV, Type)
where
r is the interest rate per period,
PMT is the payment amount,
PV is the present value,
FV is the future value,
and Type is the timing of the payment.
Using the formula:
NPER(0.065, -108000, 636685.47, 0, 1) = 17.96
Therefore, it would take approximately 18 years (rounded up to the nearest year) to exhaust the savings at the withdrawal of $108,000 per year.
e. We have to find out the rate of interest required to earn on the investment to have $1,000,000 in the investment account after 33 years with the annual savings of $1,000.
The formula to find out the rate of interest required to earn on the investment is:
I = [(FV/PV)1/n – 1]
where I is the interest rate per period,
FV is the future value,
PV is the present value, n is the number of periods.
Using the formula:
We have, I = [(1000000/1000)1/33 – 1] = 0.1642 = 16.42%
Therefore, you need to earn a rate of interest of 16.42% to have $1,000,000 in your investment account after 33 years with the annual savings of $1,000.
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Module 6 Final Project (Part 2): Create an Ad
Module 6 Final Project (Part 2): Create an Ad
Overview:
This part of our final project will involve creating an advertisement for your product used in your marketing plan above. Please follow the instructions below, and have fun! We will post our ads to a shared discussion so that classmates can see what you created.
*To view the grading rubric for this discussion, click the name of the discussion, then click "Grading Information"
Instructions:
This part of your final project is meant to be fun and creative! You will create an advertisement for your new product idea.
Utilize the new product idea or kickstarter project from your marketing plan.
Create an advertisement for your product. You may wish to review the chapter 11 in your text to help you prepare.
Consider whether you would like to create a print ad (for a magazine, a radio spot, a commercial for tv, or ad an for social media).
Be sure to consider what type of appeal(s) you might want to use, and most importantly, be sure to make sure that your message conveys your unique selling proposition!
Submit your finished advertisement to our discussion forum. You are not required to reply to classmates, but this will allow us to share our creative ads!
how to create an effective advertisement for your new product idea. Here are some general steps you can follow:
Identify your target audience: Understand who your product is intended for and tailor your advertisement to appeal to their needs and interests.
Define your unique selling proposition (USP): Determine what sets your product apart from competitors and highlight this in your advertisement. Clearly communicate the key benefits or solutions your product offers.
Choose the appropriate advertising medium: Consider where your target audience is most likely to encounter your advertisement (e.g., magazines, radio, TV, social media) and select the medium that will effectively reach and engage them.
Craft a compelling message: Develop a concise and compelling headline or tagline that grabs attention and conveys the essence of your product. Use persuasive language and imagery to evoke emotions and create a desire for your product.
Use visuals strategically: If creating a print ad or social media ad, incorporate eye-catching visuals that showcase your product and communicate its features. Ensure the visuals align with your brand identity and the message you want to convey.
Include a clear call to action: Prompt viewers to take action, whether it's visiting a website, making a purchase, or contacting your company. Make the next steps clear and easy to follow.
Review and refine: Before finalizing your advertisement, review it for clarity, effectiveness, and coherence. Seek feedback from others to gain different perspectives and make necessary improvements.
Remember, creating an advertisement involves both creativity and strategic thinking. Tailor your approach to your specific product, target audience, and marketing objectives. Good luck with your advertisement creation!
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Whitmore Glassware makes a variety of drinking glasses and mugs. The company's designers have discovered a market for a 16 ounce mug with college logos. Market research indicates that a mug like this would sell well in the market priced at $26. Whitmore only introduces a product if they can an operating profit of 30 percent of costs. Required: What is the highest acceptable manufacturing cost for which Whitmore would be willing to produce the mugs?
The highest acceptable manufacturing cost for whitmore to produce the mugs would be approximately $43.
to determine the highest acceptable manufacturing cost for which whitmore would be willing to produce the mugs, we need to calculate the target operating profit and subtract it from the desired selling price.
1. calculate the target operating profit:
the target operating profit is 30% of the costs. we'll assume this refers to the cost of manufacturing the mugs.
target operating profit = 30% of costs
2. calculate the desired selling price:
the desired selling price is given as $26.
3. calculate the highest acceptable manufacturing cost:
to find the highest acceptable manufacturing cost, we'll subtract the target operating profit from the desired selling price.
highest acceptable manufacturing cost = desired selling price - target operating profit
let's calculate the highest acceptable manufacturing cost:
target operating profit = 30% of costs
desired selling price = $26
30% of costs = $26 - target operating profit
0.3 * costs = $26 - target operating profit
0.3 * costs = $26 - (0.3 * costs)
0.3 * costs + 0.3 * costs = $26
0.6 * costs = $26
costs = $26 / 0.6
the highest acceptable manufacturing cost for whitmore would be:
costs = $26 / 0.6 ≈ $43.33 33.
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Transaction #4 - Sold a Service on account for $500,000 1) What two accounts are involved with the transaction? 2) Where do those accounts belong? (e.g. Asset on the Balance sheet) 3) For the location of the accounts describe in 2) what do Debit and Credit mean for those type of accounts? 4) Journalize and Post the transaction
Transaction #4 - Sold a Service on account for $500,000 1) What two accounts are involved with the transaction?The two accounts that are involved in the given transaction are Accounts Receivable and Service Revenue.
2) Where do those accounts belong? (e.g. Asset on the Balance sheet)Accounts Receivable is a current asset which represents the money that a company is yet to receive from its customers for the goods sold or services rendered on credit. Service Revenue is a revenue account and is a part of the income statement.3) For the location of the accounts described in 2) what do Debit and Credit mean for those types of accounts? Debit represents the increase in the asset account. Therefore, it will increase the balance of Accounts Receivable. Credit represents an increase in revenue. Therefore, it will increase the balance of Service Revenue.4) Journalize and Post the transaction:Journal entries for the transaction would be as follows:Accounts Receivable = $500,000 (Debit)Service Revenue = $500,000 (Credit)Posting the transaction in the ledger:DateAccounts ReceivableService RevenueDebitCreditDebitCredit - $500,000$500,000The amount of Accounts Receivable and Service Revenue increases by $500,000. Hence, the balance of both the accounts is $500,000. Hence, this is the journalizing and posting of transaction #4.
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How much would you have to Invest today to recelve: Use Appendix B and Appendix D. (Round "PV Factor" to 3 decimal places. Round the final answers to the nearest whole dollar.) a. $12,250 in 6 years at 10 percent? Present value $ b. $16,000 in 17 years at 7 percent? Present value c. $6,000 each year for 13 years at 7 percent? Present value $ d. $6,000 each year, at the beginning, for 26 years at 7 percent? Presentvalue $ e. $52,000 each year for 25 years at 7 percent? Present value $ f. $52,000 each year for 26 years, at the beginning. at 7 percent? Present value $
To calculate the present value of each investment, we need to use the Present Value (PV) formula:
PV = [tex]Future Value / (1 + Interest Rate)^Time[/tex]; where PV is the present value, Future Value is the desired future amount, Interest Rate is the annual interest rate, and Time is the number of years.
a. $12,250 in 6 years at 10 percent:
PV = $[tex]12,250 / (1 + 0.10)^6[/tex]
PV = $7,080 (rounded to the nearest whole dollar)
b. $16,000 in 17 years at 7 percent:
PV = $[tex]16,000 / (1 + 0.07)^17[/tex]
PV = $5,980 (rounded to the nearest whole dollar)
c. $6,000 each year for 13 years at 7 percent:
PV = $[tex]6,000 * [(1 - (1 + 0.07)^-13) / 0.07][/tex]
PV = $52,775 (rounded to the nearest whole dollar)
d. $6,000 each year, at the beginning, for 26 years at 7 percent:
PV = $[tex]6,000 * [(1 - (1 + 0.07)^-26) / 0.07] * (1 + 0.07)[/tex]
PV = $121,791 (rounded to the nearest whole dollar)
e. $52,000 each year for 25 years at 7 percent:
PV = $[tex]52,000 * [(1 - (1 + 0.07)^-25) / 0.07][/tex]
PV = $659,131 (rounded to the nearest whole )
f. $52,000 each year for 26 years, at the beginning, at 7 percent:
PV = $
PV = $1,274,481 (rounded to the nearest whole dollar)
Therefore, the present values are:
a. $7,080
b. $5,980
c. $52,775
d. $121,791
e. $659,131
f. $1,274,481
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Which of the following is FALSE if CAPM theory holds? A risky asset cannot have a beta greater than 1. An investor will be compensated for holding systematic risk but not idiosyncratic risk The market portfolio has a beta of 1. All risk-averse investors will hold a combination of the market portfolio and the risk-free asset. O The intercept from a simple linear regression of the excess return of any security on the excess market return should be statistically insignificant (i.e., zero). Question 8 Which of the following statements is FALSE? Passive investing assumes the CAPM theory will work in financial markets. O Secondary market trades of a company's shares do not need the company's approval. Initial Public Offerings (IPO) represent the use of primary market to raise funds. Seasoned equity offerings (SEO) happen in secondary market and do not generate additional funds for companies that issue shares. Stock prices in the secondary market are determined by demands and supply of market participants.
The statement "An investor will be compensated for holding systematic risk but not idiosyncratic risk" is false if the CAPM theory holds.
According to the Capital Asset Pricing Model (CAPM), an investor should be compensated for bearing systematic risk, which is the risk associated with the overall market or a specific systematic factor. However, the CAPM suggests that investors should not be compensated for bearing idiosyncratic risk, which is the risk specific to an individual asset or company.
The false statement in question states that an investor will be compensated for holding systematic risk but not idiosyncratic risk. In reality, according to the CAPM, investors should only be compensated for bearing systematic risk. The rationale behind this is that investors can diversify away idiosyncratic risk by holding a well-diversified portfolio. Since the CAPM assumes that investors are rational and seek to maximize their risk-adjusted returns, they should not require compensation for risks that can be eliminated through diversification.
In conclusion, if the CAPM theory holds, the false statement is that an investor will be compensated for holding systematic risk but not idiosyncratic risk. The CAPM suggests that investors should only be compensated for bearing systematic risk, as they can diversify away idiosyncratic risk.
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Suppose that the monopolist can produce with total cost: TC=10Q. Assume that the monopolist sells its goods in two different markets separated by some distance. The demand curves in the first market and the second market are given by Q 1 =120−l 1 and Q 2 =240−4l 2 . Suppose that consumers can mail the product from cheaper location to a more expensive location at a certain cost. What would be the critical mailing cost above which consumers do not have such an incentive?
a. 15
b. 30
c. 20
d. 10
The determine the critical mailing cost above which consumers do not have an incentive to mail the product, we need to compare the prices of the monopolist's goods in the two markets.
Let's assume that the monopolist sets the same price in both markets. In that case, the price of the good in the first market would be P1 = 120 - Q1 and the price in the second market would be P2 = 240 - 4Q2.If consumers can mail the product from the cheaper location (first market) to the more expensive location (second market) at a cost, they would do so as long as the price difference between the two markets exceeds the mailing cost.So, the critical mailing cost would be the price difference between the two markets: P2 - P1.
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As the manager of a monopoly, you face potential government regulation. Your inverse demand is P = 40 − 2Q, and your costs are C(Q) = 8Q.
a. Determine the monopoly price and output.
Monopoly price: $
Monopoly output: _______ units
b. Determine the socially efficient price and output.
Socially efficient price: $
Socially efficient output: ________ units
c. What is the maximum amount your firm should be willing to spend on lobbying efforts to prevent the price from being regulated at the socially optimal level?
To determine the monopoly price and output, we need to find the profit-maximizing quantity where marginal revenue equals marginal cost. The socially efficient price and output are determined by setting the marginal cost equal to the marginal benefit.
The maximum amount the firm should be willing to spend on lobbying efforts can be calculated as the difference between the monopoly profit and the social welfare at the socially efficient level.
a. To find the monopoly price and output, we set marginal revenue equal to marginal cost. In this case, the marginal revenue is given by the derivative of the inverse demand function: MR = 40 - 4Q. The marginal cost is given by the derivative of the cost function: MC = 8. Setting MR equal to MC, we have 40 - 4Q = 8. Solving for Q, we find Q = 8. Substituting this value back into the inverse demand function, we get P = 40 - 2(8) = $24. Therefore, the monopoly price is $24 and the monopoly output is 8 units.
b. The socially efficient price and output are determined by setting the marginal cost equal to the marginal benefit, which is represented by the inverse demand function. Setting MC = P, we have 8 = 40 - 2Q. Solving for Q, we find Q = 16. Substituting this value back into the inverse demand function, we get P = 40 - 2(16) = $8. Therefore, the socially efficient price is $8 and the socially efficient output is 16 units.
c. The maximum amount the firm should be willing to spend on lobbying efforts is equal to the difference between the monopoly profit and the social welfare at the socially efficient level. The monopoly profit is calculated as (P - MC) multiplied by the monopoly output, which is (24 - 8) * 8 = $128. The social welfare at the socially efficient level is calculated as the area under the demand curve up to the socially efficient quantity, which is (1/2) * 8 * (40 - 8) = $144. Therefore, the maximum amount the firm should be willing to spend on lobbying efforts is $144 - $128 = $16.
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Rubber City Cycles manufactures carbon fiber bicycle frames for professional racing and avid amateur cyclists. Rubber City has found a CNC (computer numerical control) machine that will significantly reduce manufacturing waste while improving the quality of the frames. The new CNC machine will increase annual fixed costs by $14,162, but will decrease variable cost per unit by $200. Rubber City expects to sell 750 frames next year. Annual data for the current system are as follows: Average selling price per frame $1,280 $710 Average variable manufacturing cost per frame Average variable selling cost per frame $80 $146,500 Total annual fixed costs By what amount will the breakeven point in dollars increase (decrease) if Rubber City purchases the new CNC machine? A. $321,324 B. ($321,324) C. ($84,480) D. $84,480
The amount by which the break-even point in dollars will decrease if Rubber City purchases the new CNC machine is $84,480.
Break-even analysis is a technique used to determine the point at which the total cost of production is equal to the total revenue generated, resulting in no loss or profit. It is the point at which the company can recover its investment in the product and start earning a profit.Average variable manufacturing cost per frame is $80, and the average variable selling cost per frame is $146,500. It follows that the total variable cost per unit is $146,580 ($80 + $146,500).The total fixed costs for the current system are $534,000 ($146,500 + $387,500).The total revenue for the current system is $960,000 ($1,280 × 750).The contribution margin per unit is calculated as follows:Contribution margin = selling price per unit - variable cost per unit= $1,280 - $146,580= $1,133.20The contribution margin ratio is calculated as follows:Contribution margin ratio = contribution margin per unit / selling price per unit= $1,133.20 / $1,280= 0.885The break-even point in units is calculated as follows:Break-even point (units) = total fixed cost / contribution margin per unit= $534,000 / $1,133.20= 471.26Therefore, the break-even point in units is 472.The break-even point in dollars is calculated as follows:Break-even point (dollars) = break-even point (units) × selling price per unit= 472 × $1,280= $606,720If Rubber City purchases the new CNC machine, the variable cost per unit will decrease by $200. As a result, the new variable cost per unit will be $146,380 ($146,580 - $200).The new total fixed costs will be $548,162 ($534,000 + $14,162).The new contribution margin per unit will be $1,333.20 ($1,280 - $146,380).The new contribution margin ratio will be 0.904 ($1,333.20 / $1,280).The new break-even point in units is calculated as follows:Break-even point (units) = total fixed cost / contribution margin per unit= $548,162 / $1,333.20= 411.52Therefore, the new break-even point in units is 412.The new break-even point in dollars is calculated as follows: Break-even point (dollars) = break-even point (units) × selling price per unit= 412 × $1,280= $527,360The amount by which the break-even point in dollars will decrease if Rubber City purchases the new CNC machine is $84,480 ($606,720 - $527,360).Therefore, option D, $84,480, is the correct answer.
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An annuity-immediate makes payments of $10 per year for 10 years. An annuity-due that makes 12 annual payments of X has the same present value as the annuity-immediate. The annual effective interest rate is 8%. Calculate X. A 7.07 B 7.63 C 8.24 D 8.90 E 9.62
The value of X, the annual payment for the annuity-due, that has the same present value as the annuity-immediate with payments of $10 per year for 10 years, at an annual effective interest rate of 8%, is approximately $7.63.
To find the value of X for the annuity-due, we need to calculate the present value of both annuities and set them equal to each other.
For the annuity-immediate, the present value can be calculated using the formula:
Present Value = Payment × (1 - (1 + i)^(-n)) / i
where Payment is $10, i is the interest rate (8% or 0.08), and n is the number of years (10).
For the annuity-due, the present value can be calculated similarly, but we need to account for the fact that the payments occur at the beginning of each year. So, we multiply the annuity-immediate present value by (1 + i) to convert it to an annuity-due.
Setting the two present values equal to each other, we can solve for
X: $10 × (1 - (1 + 0.08)^(-10)) / 0.08 = X × (1 + 0.08) × (1 - (1 + 0.08)^(-12)) / 0.08
Solving this equation, we find that X is approximately $7.63.
Therefore, the correct answer is B: $7.63.
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If inflation is 8% and the price of oil has increased by only 5%, then the relative price of oil:
A) Has decreased by 5%
B) Has increased by 5%
C) Has increased by 3%
D) Has decreased by 3%
If inflation is 8% and the price of oil has increased by only 5%, the relative price of oil has decreased by 3%.
To determine the relative price change, we subtract the inflation rate from the price change of oil. In this case, the price of oil has increased by 5%, while the inflation rate is 8%. Therefore, the relative price change can be calculated as 5% - 8% = -3%.
The negative sign indicates a decrease in the relative price of oil. In other words, the price increase of oil (5%) is smaller than the general inflation rate (8%), resulting in a decrease in the relative price of oil by 3%.
Therefore, the correct answer is option D) Has decreased by 3%. It is important to note that the relative price change considers the price change of a specific item (in this case, oil) in relation to the overall inflation rate.
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answer 1,2 and 3 please
thank you!
1) Disequilibrium profit theories are represented by a combination of and 2 Points rapid decline in growth; no increase in costs rapid decline in revenues; rapid increase in costs slow decline in reve
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Disequilibrium profit theories provide insights into the dynamics of imbalanced profit structures and the potential challenges they present to a company's financial well-being.
By understanding these theories, businesses can identify the underlying causes of profit disequilibrium and take appropriate measures to restore stability and improve their profitability.
Disequilibrium profit theories are characterized by a combination of factors such as a rapid decline in growth accompanied by no increase in costs, a rapid decline in revenues coupled with a rapid increase in costs, and a slow decline in revenue. These theories highlight the imbalances that can occur within a company's profit structure and the potential consequences they can have on its financial stability.
Disequilibrium profit theories examine situations where a company experiences a lack of balance between its revenue and cost structures, leading to an unstable profit situation. One scenario described by these theories involves a rapid decline in growth without a corresponding increase in costs. In this case, the company may be facing declining demand or market saturation, resulting in a shrinking customer base and reduced sales. However, if the company's costs remain constant or do not decrease proportionately, it can lead to a decline in profitability.
Another scenario associated with disequilibrium profit theories involves a rapid decline in revenues accompanied by a rapid increase in costs. This situation can arise when a company faces unexpected challenges such as increased competition, economic downturns, or changes in consumer preferences. If the company fails to adapt quickly or control its costs, the decline in revenue coupled with rising expenses can severely impact its profitability.
Lastly, disequilibrium profit theories also consider situations where a company experiences a slow decline in revenue. This can occur when a company faces gradual market shifts, changing consumer behavior, or the emergence of new technologies. Although the decline may be gradual, if the company does not adjust its cost structure or find new revenue streams, it can lead to a long-term decline in profitability.
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what assumption(s) are frequently made when estimating a cost function?
Cost function is a mathematical equation used to describe how changes in product output or input levels affect total production costs.
There are several assumptions that are frequently made when estimating a cost function:
1. Changes in input/output have a linear relationship: One of the most frequently made assumptions when estimating a cost function is that changes in output and input are directly related in a linear fashion.
2. Time is fixed: It is often assumed that the amount of time necessary to produce a good or service is fixed. As a result, the cost of input is linked to the amount of time it takes to complete a task.
3. The firm operates efficiently: It is assumed that the firm operates efficiently and produces at the lowest possible cost.
4. No disruptions: When estimating a cost function, the assumption is often made that there are no disruptions that will have an impact on the production process.
5. Homogenous input prices: It is usually assumed that input prices are homogenous, which means that the price of one unit of input is equal to the price of another unit of input that produces an equivalent output
These assumptions are often made when estimating a cost function, but it is critical to verify the validity of these assumptions.
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On January 1, 2021, Hum Enterprises Inc. had 60,000 common shares, recorded at $360,000. The company follows IFRS. During the year, the following transactions occurred:
Apr. 1 Issued 4,000 common shares at $8 per share.
June 15 Declared a 5% stock dividend to shareholders of record on September 5, distributable on September 20. The shares were trading for $10 a share at this time.
Sep. 21 Announced a 1-for-2 reverse stock split. Shares were trading at $8 per share at the time.
Nov. 1 Issued 3,000 common shares at $18 per share.
Dec. 20 Repurchased 10,000 common shares for $16 per share. This was the first time Hum had repurchased its own shares.
Record each of the transactions. Keep a running balance of the average per share amount of the common shares.
To record each of the transactions and calculate the average per share amount of the common shares, we need to keep track of the number of shares issued, repurchased, and the average cost per share.
Here are the journal entries and the running balance for each transaction:
April 1: Issued 4,000 common shares at $8 per share.
Cash $32,000
Common Shares $32,000
Running balance:
Number of shares: 64,000
Total cost: $392,000
Average per share: $392,000 / 64,000 = $6.125
June 15: Declared a 5% stock dividend to shareholders of record on September 5, distributable on September 20. The shares were trading for $10 a share at this time.
Retained Earnings $24,000
Common Shares Dividend Distributable $24,000
Running balance:
Number of shares: 67,200
Total cost: $392,000
Average per share: $392,000 / 67,200 = $5.833
September 21: Announced a 1-for-2 reverse stock split. Shares were trading at $8 per share at the time.
No journal entry required as this is a stock split.
Running balance:
Number of shares: 33,600
Total cost: $392,000
Average per share: $392,000 / 33,600 = $11.667
November 1: Issued 3,000 common shares at $18 per share.
Cash $54,000
Common Shares $54,000
Running balance:
Number of shares: 36,600
Total cost: $446,000
Average per share: $446,000 / 36,600 = $12.190
December 20: Repurchased 10,000 common shares for $16 per share.
Treasury Shares $160,000
Cash $160,000
Running balance:
Number of shares: 26,600
Total cost: $286,000
Average per share: $286,000 / 26,600 = $10.753
At the end of the transactions, the average per share amount of the common shares is $10.753.
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Frankie is struggling to pay his monthly rent and he goes to PayDay Loan down the street to take out a 2-week loan in order to get through the next several weeks before his May 15 th paycheck. Identify the APR on the loan. a. Frankie is offered a $800 two-week loan at . 45% interest. Identify the APR on this loan and what will Frankie have to pay back on May 16 th?
To calculate the Annual Percentage Rate (APR) on the loan, we need to consider the interest rate, loan amount, and loan term. In this case, Frankie is offered an $800 two-week loan at a 45% interest rate.
To find the APR, we can use the following formula:
APR = (Interest / Loan Amount) * (365 / Loan Term)
Let's calculate the APR:
APR = (45% / $800) * (365 / 14)
APR = (0.45 / $800) * 26.0714
APR = 0.0005625 * 26.0714
APR = 0.014637075
APR ≈ 0.0146 (or 1.46%)
Therefore, the APR on this loan is approximately 1.46%.
To calculate how much Frankie will have to pay back on May 16th, we need to consider the loan amount and the interest. In this case, Frankie borrowed $800.
Interest = Loan Amount * Interest Rate
Interest = $800 * 0.45
Interest = $360
Therefore, on May 16th, Frankie will have to pay back the loan amount of $800 plus the interest of $360, resulting in a total repayment of $1,160.
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Evaluate current descriptions of globalization. Assess the HR discipline in the context of a global future. Describe two influences of globalization in the HR organization. Explain the influence diversity and inclusion play on the success of an organization. Also, include how you think globalization will impact HR. Please provide at least two examples.
Globalization has led to increased interconnectedness and interdependence worldwide. In the context of HR, it has influenced talent mobility and the rise of virtual workforces. Diversity and inclusion play a vital role in organizational success, while HR must adapt to global talent strategies and navigate international employment regulations.
Current descriptions of globalization highlight the increasing interconnectedness and interdependence of economies, societies, and cultures across the world. Globalization has led to the expansion of international trade, advancements in technology, and the free flow of capital and information.
In this global future, the HR discipline plays a crucial role in managing a diverse workforce across borders and cultures. HR professionals need to understand and navigate complex global employment laws, cultural differences, and talent acquisition strategies.
Two influences of globalization on the HR organization include:
Talent mobility: Globalization has facilitated the movement of talent across borders, enabling organizations to tap into a global pool of skilled workers. HR departments must develop strategies to attract, retain, and manage international employees, including addressing visa and work permit requirements, cross-cultural integration, and talent development.Virtual workforces: Advances in technology and communication have enabled organizations to establish virtual teams and remote work arrangements. HR professionals must adapt their practices to effectively manage and engage virtual employees, including implementing remote work policies, leveraging digital collaboration tools, and fostering a sense of belonging within virtual teams.Diversity and inclusion play a crucial role in the success of an organization. By embracing diversity, organizations can leverage a range of perspectives, experiences, and talents, leading to enhanced innovation, problem-solving, and adaptability.
Inclusion ensures that individuals from diverse backgrounds feel valued, respected, and supported, fostering a positive work environment and boosting employee engagement and productivity.
Globalization will continue to impact HR in various ways. HR departments will need to develop global talent strategies, establish inclusive practices that embrace diverse cultures and backgrounds, and navigate the complexities of international employment regulations.
Additionally, HR professionals will play a vital role in promoting cultural competence, fostering cross-cultural collaboration, and ensuring equity and fairness in global workplaces.
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The FASB concepts statement relating to cash flow information introduces the concept of expected cash flows when using present values for accounting measurements. Assume that Smith Company determined that it has a 40% probability of receiving $10,000 one year from now and a 60% probability of receiving $10,000 two years from now. (Click here to access the PV and FV tables to use with this problem.) Required: Using the FASB concepts, calculate the present value of the expected cash flows assuming a 12% interest rate compounded annually. Round your answer to two decimal places. $ _____
The present value of the expected cash flows is $9,053.91.
To calculate the present value of the expected cash flows using the FASB concepts, we use the following formula: PV = ECF1 / (1 + i) + ECF2 / (1 + i)² where PV is the present value of the expected cash flows. ECF1 is the expected cash flow to be received one year from now. ECF2 is the expected cash flow to be received two years from now, i is the interest rate. Let's substitute the values we know into the formula: PV = (0.4 x $10,000) / (1 + 0.12) + (0.6 x $10,000) / (1 + 0.12)². PV = $4,000 / 1.12 + $6,000 / 1.2544PV = $3,571.43 + $4,482.48. PV = $9,053.91. Therefore, the present value of the expected cash flows is $9,053.91, rounded to two decimal places.
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The principle of hedging calls for the matching of a firm's average:
a. Liquidity of its assets with its liabilities and equity
b. Liquidity of its accounts receivable with its accounts payable
c. Maturities of its assets with its liabilities and equity
d. Maturities of its sales with its assets
The correct answer is c. Maturities of its assets with its liabilities and equity.
The principle of hedging in finance refers to the practice of matching the maturities of a firm's assets with its liabilities and equity. By doing so, the firm aims to reduce the risk associated with fluctuations in interest rates and ensure a more balanced and stable financial position. Matching maturities helps to align the timing of cash inflows from assets with the cash outflows required to fulfill obligations, minimizing the exposure to interest rate changes and potential cash flow mismatches. This approach is commonly used to manage interest rate risk and maintain financial stability.
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Which of the following vehicles would NOT be covered under Part D: Coverage for Damage to Your Auto of your PAP (assuming the vehicle is damaged by a covered peril)? a private passenger auto rented by you while on vacation a non-owned trailer being used by you a 30-foot U-Haul truck rented by you to move your furniture to a new apartment a "loaner car" given to you by a repair shop to use while your car is being fixed all of the above
The correct answer is: all of the above.
Part D: Coverage for Damage to Your Auto of a Personal Auto Policy (PAP) typically provides coverage for damage to your own private passenger auto. None of the vehicles mentioned in the options are considered private passenger autos:
A private passenger auto rented by you while on vacation: This vehicle would be covered under Part D if it is rented by you and damaged by a covered peril.
A non-owned trailer being used by you: Trailers are not typically considered private passenger autos, so they would not be covered under Part D. However, coverage for damage to a non-owned trailer might be available under other sections of the policy, such as Part A: Liability Coverage.
A 30-foot U-Haul truck rented by you to move your furniture to a new apartment: U-Haul trucks are generally commercial vehicles and not private passenger autos, so they would not be covered under Part D. Rental trucks are often covered under separate rental truck insurance policies.
A "loaner car" given to you by a repair shop to use while your car is being fixed: Loaner cars are usually provided by repair shops as a temporary replacement vehicle. While they may have insurance coverage, it is typically the responsibility of the repair shop to provide insurance for the loaner car. Therefore, it would not be covered under Part D of your PAP.
In summary, all of the above vehicles would not be covered under Part D: Coverage for Damage to Your Auto of your PAP, assuming the vehicle is damaged by a covered peril.
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You have gathered the following vehicle costs: a. Calculate the annusl variable and fixed costs of the vehicle. b. Compute the operoting cost per mile. Complete this question by entering your answers in the tabs below. Caiculate the annual variable and fixed cots of the vehicie. Note: Do not round intermediate caicuiations. Round answer to nearest whole number.
When you have gathered the vehicle costs, to calculate the operating cost per mile, annual variable, and fixed costs of a vehicle, we need specific cost information.
To determine the annual variable and fixed costs of a vehicle, we need specific cost data, such as fuel expenses, maintenance and repair costs, insurance fees, and depreciation. Fixed costs typically include insurance premiums and vehicle registration fees, while variable costs consist of fuel costs and maintenance expenses that increase with mileage. By analyzing the costs over a specific period, we can separate them into fixed and variable components.
Once the costs are identified, the operating cost per mile can be calculated by dividing the total costs by the number of miles driven. This provides an estimation of the average cost incurred for each mile traveled.
However, without the specific cost details, it is not possible to generate accurate calculations for the annual variable and fixed costs or the operating cost per mile. To determine these values, you would need to gather the necessary cost information related to the vehicle's operation and maintenance.
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An investment project has an initial cost of $60,000 and expected cash inflows of $12,500 , $17,800 , $21,600 , and $25,800 over years 1 to 4, respectively. If the required rate of return is 8 percent, what is the net present value?
The net present value is $5,456.25.NPV is used in capital budgeting and investment planning to analyze the profitability of a projected investment or project.
The net present value (NPV) is the difference between the present value of cash inflows and the present value of cash outflows over a period of time. The formula for calculating NPV is:
NPV = (CF₁ / (1 + r)¹) + (CF₂ / (1 + r)²) + … + (CFₙ / (1 + r)ⁿ) - Initial Investment
Where:
CF₁, CF₂, …, CFₙ are cash inflows in periods 1 through n.
r is the discount rate.
n is the number of periods.
Initial Investment is the initial cost of the investment.
In this case, the initial cost of the investment is $60,000 and the cash inflows are $12,500, $17,800, $21,600 and $25,800 over years 1 to 4 respectively. The required rate of return is 8%. Therefore:
NPV = (-$60,000 / (1 + 0.08)⁰) + ($12,500 / (1 + 0.08)¹) + ($17,800 / (1 + 0.08)²) + ($21,600 / (1 + 0.08)³) + ($25,800 / (1 + 0.08)⁴)
NPV = -$60,000 + $11,574.07 + $15,972.22 + $17,997.10 + $19,912.86
NPV = $5,456.25. Therefore, the net present value is $5,456.25.
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A 25-year, $1,000 par value bond has an 15% annual payment coupon. The bond currently sells for $905. If the yield to maturity remains at its current rate, what will the price be 5 years from now?
A977.20
B907.41
C930.11
D984.19
E906.86
The future price of the bond after 5 years will be approximately $901.49. None of the given options matches this value exactly, but the closest option is B. 907.41.
To determine the future price of the bond, we need to calculate the yield to maturity (YTM) and use it to discount the future cash flows. Given that the bond has a 15% annual payment coupon and a par value of $1,000, it means it pays $150 annually ($1,000 x 0.15).
To calculate the yield to maturity (YTM), we can use the current price of $905. The YTM is the discount rate that equates the present value of the bond's cash flows to its current price.
Using a financial calculator or Excel, we can find that the YTM for this bond is approximately 17.12%.
Now, let's calculate the future price of the bond after 5 years using the YTM:
Future price = (Future coupon payments + Future par value) / (1 + YTM)ⁿ
where:
Future coupon payments = Coupon payment x (1 + YTM)ⁿFuture par value = Par value / (1 + YTM)ⁿn = number of yearsPlugging in the values:
Future coupon payments = $150 x (1 + 0.1712)^5 = $317.86
Future par value = $1,000 / (1 + 0.1712)^5 = $584.22
Future price = ($317.86 + $584.22) / (1 + 0.1712)⁵ = $901.49
Therefore, option B. 907.41 is correct.
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What are the parallels that you can draw to healthcare?
https://www.shrm.org/
The article provided from the Society for Human Resource Management (SHRM) website focuses on the healthcare industry and highlights several parallels that can be drawn in relation to different types of employees.
Here are some potential parallels in the context of healthcare:
1. Regular full-time employees: In healthcare, regular full-time employees can refer to physicians, nurses, and other healthcare professionals who work full-time hours and have an ongoing employment relationship with a healthcare organization. They receive benefits and often play a crucial role in delivering patient care.
2. Part-time employees: Part-time employees in healthcare may include individuals who work fewer hours than full-time employees, such as part-time nurses or medical assistants. They provide flexibility in staffing to accommodate varying patient volumes and scheduling needs.
3. Contracted employees: Contracted employees in healthcare can be external consultants or specialized professionals who are hired for specific projects or services. For example, a healthcare organization might engage contract pharmacists or IT consultants to implement new systems or processes.
4. Independent contractors: Independent contractors in healthcare can include professionals like medical transcriptionists, medical billing specialists, or even locum tenens physicians. These individuals typically work on a contractual basis and are responsible for their own taxes and benefits.
5. Temporary or seasonal employees: In healthcare, temporary or seasonal employees might be hired to address staffing shortages during peak periods or to cover for employees on leave. This could involve hiring temporary nurses or healthcare aides to maintain adequate staffing levels.
6. Government employees: Parallels to government employees in healthcare can be found in public healthcare systems where healthcare professionals are employed by government agencies or public hospitals. These employees work within the framework of government policies and regulations to provide healthcare services to the population.
While the specific job roles and functions may vary in healthcare compared to other industries, the underlying principles of employing different types of employees remain similar. Healthcare organizations often use these employment types to ensure staffing flexibility, access specialized skills, comply with regulations, and effectively deliver patient care.
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