Your company is estimated to make dividends payments of $2.2 next year, $3.9 the year after, and $4.8 in the year after that. The dividends will then grow at a constant rate of 2% per year. If the discount rate is 9% then what is the current stock price?

Answers

Answer 1

Answer:

$63.01

Explanation:

The share price today is the present value of expected future cash flows which in this case are the expected future dividends and the terminal value of dividends beyond the 3rd year.

Year 1 dividend =$2.2  

Year 2 dividend =$3.9

Year 3 dividend =$4.8

Terminal value=Year 3 dividend*(1+constant growth rate)/(required rate of return-constant growth rate)

constant growth rate=2%

the required rate of return=9%

Terminal value=$4.80*(1+2%)/(9%-2%)

Terminal value=$69.94

Present value of a future cash flow=cash flow/(1+required rate of return)^n

n is 1 for year 1 dividend, 2 for year 2 dividend , 3 for year 3 dividend,  and terminal value(terminal value is stated in year 3 terms)

stock price=$2.2/(1+9%)^1+$3.9/(1+9%)^2+$4.8/(1+9%)^3+$69.94/(1+9%)^3

stock price=$63.01  


Related Questions

Calculate depreciation for year 2 based on the following information: Historical cost $40,000 Useful life 5 years Salvage value $3,000 Year 1 depreciation $7,400

Answers

Answer:

Depreciation for year 2 is also $7,400.

Explanation:

Assuming a straight line method of depreciation in which the depreciation is the same for each year, the annual depreciation can be calculated as follows:

Annual depreciation = (Historical cost - Salvage value) / Useful years = ($40,000 - $3,000) / 5 = $7.400

Since annual depreciation is $7,400, that implies that depreciation for year 2 is also $7,400.

40. Giả sử tỷ giá giao ngay của EUR là 0.9 USD/EUR . Tỷ giá giao ngay dự kiến một năm sau là 0.85 USD/EUR, % thay đổi của tỷ giá giao ngay là :

Answers

Answer:

Sorry I can't understand

Hailey Corporation pays a constant $9.45 dividend on its stock. The company will maintain this dividend for the next 13 years and will then cease paying dividends forever. If the required return on this stock is 10.7 percent, what is the current share price?

Answers

Answer:

$64.76

Explanation:

The current share price can be determined by calculating the present value of the dividend

Present value is the sum of discounted cash flows

Present value can be calculated using a financial calculator

Cash flow from year 1 to 13 = 9.45

I = 10.7

PV = 64.76

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

You own a stock portfolio invested 30 percent in Stock Q, 25 percent in Stock R, 25 percent in Stock S, and 20 percent in Stock T. The betas for these four stocks are .80, 1.18, 1.19, and 1.36, respectively. What is the portfolio beta

Answers

Answer:

The Portfolio beta is 1.1045

Explanation:

The computation of the portfolio beta is given below:

Stock          Beta       Investment (Weight)       Weighted Beta

Stock Q      0.8         0.3                                   0.2400

Stock R       1.18       0.25                                  0.2950

Stock S       1.19       0.25                                  0.2975

Stock T        1.36      0.2                                    0.2720

Portfolio beta                                                  1.1045

What is the internal rate of return of a project costing $3,000; having after-tax cash flows of $1,500 in each of the two years of its two-year life; and a salvage value of $800at the end of the second year in addition to the $1,500 cash flow?a) 13%.
b) 15%.
c) 16%.
d) 19%.

Answers

the answer is B 15%
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You expect to receive $5,400 two years from now, $6,300 three years from now, and $10,900 six years from now. What is the future value of these cash flows seven years from now if the interest rate is 7.4 percent, compounded annually

Answers

Answer:

Total FV= $27,805.2

Explanation:

Giving the following information:

You expect to receive $5,400 two years from now, $6,300 three years from now, and $10,900 six years from now.

Interest rate= 7.4%

To calculate the Future Value, we need to use the following formula:

FV= Cf*(1 + i)^n

Cf1= 5,400*(1.074^5)= 7,716.41

Cf2= 6,300*(1.074^4)= 8,382.19

Cf3= 10,900*1.074= 11,706.6

Total FV= $27,805.2

Your product Belch has an actual market share of 14.2%, and a potential market share of 17.6%. The most likely scenario to explain this situation is:

Answers

Answer: Your budget for sales and promo are excessive, and you reached diminishing returns on your spend.

Explanation:

You can check the options online.

The market share refers to the percentage of total sales that is generated by a company in an industry.

If the potential market share is higher than the actual market share, the reason for this will be due to the fact that the budget for sales and promo are excessive, and you reached diminishing returns on your spend.

Equivalent Units of Materials Cost The Filling Department of Eve Cosmetics Company had 4,500 ounces in beginning work in process inventory (90% complete). During the period, 74,900 ounces were completed. The ending work in process inventory was 3,700 ounces (40% complete). What are the total equivalent units for direct materials if materials are added at the beginning of the process? fill in the blank 1 units

Answers

Answer: 74,100 units

Explanation:

If the materials are added at the beginning of the process then the opening work in process inventory would need to be deducted from the completed inventory for the period. Also there would be no need to multiply the units by their completion level because they are assumed to be at 100% completion because materials were added at the very beginning.

Total equivalent units for direct materials is:

= (Completed units - Opening inventory) + Closing work in process

= (74,900 - 4,500) + 3,700

= 74,100 units

A manager of a company is facing an ethical problem. He uses the formal process for ethical decision making to resolve the problem. Which of the following steps will they begin with

Answers

Answer: Understanding all the moral standards and recognizing all moral impacts.

Explanation:

Ethics is the standards and the moral principles which guide the behavior of an individual or group of people. Ethical decision making reefers to the assessment of the moral implications of a course of action.

Since the manager uses the the formal process for ethical decision making to resolve the problem, the first step to begin with is to understand the moral standards and recognizing all moral impacts. The manager needs to be aware of the moral standards and be sure if he or she is following the normal process and doing the right thing.

A refiner produces heating fuel and gasoline from crude oil in virtually fixed proportions. What can you say about economies of scope for such a firm? What is the sign of its measure of economies of scope, SC?

Answers

Answer:

The cost benefits of simultaneous manufacturing do not exist and there are thus no economies as well as range disadvantages. A further explanation is provided below.

Explanation:

Scope savings are environmental impacts if a variety of commodities are produced collectively when producing these commodities collaboratively is far less costly than individually.Throughout this case, the manufacturer can create two items from the main resource although manufacturing takes place in some kind of a set proportion. Therefore includes the amount of production is identical to the expenditure of combined production of the products.

Thus the above is the appropriate solution.

On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $42,500 and $1,700, respectively. During 2022, Coolwear wrote off $875 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $4,200 at December 31, 2022. Bad debt expense for 2022 would be:

Answers

Answer:

the bad debt expense for 2022 is $5,025

Explanation:

The calculation of the bad debt expense for 2022 is given below:

= Allowance for uncollectible accounts - ending balance for uncollectible accounts - account receivable written off

= $4,200 - $1,700 - $875

= $5,025

Hence, the bad debt expense for 2022 is $5,025

The same should be considered and relevant

The University Store, Incorporated is the major bookseller for four nearby colleges. An income statement for the first quarter of the year is presented below: University Store, Incorporated Income Statement For the Quarter Ended March 31 Sales $ 800,000 Cost of goods sold 560,000 Gross margin 240,000 Selling and administrative expenses: Selling $ 100,000 Administrative 110,000 210,000 Net operating income $ 30,000 On average, a book sells for $40.00. Variable selling expenses are $3.00 per book; the remaining selling expenses are fixed. The variable administrative expenses are 5% of sales; the remainder of the administrative expenses are fixed.The contribution margin for the University Store for the first quarter is: A) $660,000 B) $700,000 C) $180,000 D) $140,000

Answers

Answer:

The University Store

The contribution margin for the University Store for the first quarter is:

= D) $140,000

Explanation:

a) Data and Calculations:

University Store,

Incorporated Income Statement

For the Quarter Ended March 31

Sales $ 800,000

Cost of goods sold 560,000

Gross margin 240,000

Selling and administrative expenses:

Selling $ 100,000

Administrative 110,000 210,000

Net operating income $ 30,000

Selling price per book = $40.00

Variable selling expenses per book = $3.00

Variable administrative expenses = 5% of sales

Sales Revenue        $800,000

Cost of goods sold   560,000

Selling expense          60,000

Admin. expense         40,000

Total variable costs 660,000

Contribution margin 140,000

The burden of a tax is shared by producers and consumers. Under what conditions will consumers pay most of the​ tax? Under what conditions will producers pay most of​ it? A. It depends on who is legally obligated to pay the tax. Typically producers are required to pay the tax and therefore bear most of the burden. B. If demand is relatively more elastic than​ supply, producers will pay more of the tax. C. It depends on who is legally obligated to pay the tax. Typically consumers are required to pay the tax and therefore bear most of the burden. D. If demand is relatively less elastic than​ supply, producers will pay more of the tax.

Answers

Answer:

B

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price  

Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price  

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.  

Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases  

Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.

If demand is more elastic than supply, if price is increased as a result of tax,  demand would fall more than supply. As a result, producers would bear more tax burden

Single Plantwide Factory Overhead Rate Kennedy Appliance Inc.’s Machining Department incurred $159,500 of factory overhead cost in producing hoses and valves. The two products consumed a total of 5,500 direct machine hours. Of that amount, hoses consumed 2,800 direct machine hours. Determine the total amount of factory overhead that should be allocated to hoses using machine hours as the allocation base. $fill in the blank 1

Answers

Answer:

the total amount of factory overhead that should be allocated to hoses using machine hours is $81,200

Explanation:

The calculation of the total amount of factory overhead that should be allocated to hoses using machine hours is given below:

= $159,500 × 2,800 ÷ 5,500

= $81,200

Hence, the total amount of factory overhead that should be allocated to hoses using machine hours is $81,200

the same is relevant

Liquidity is _________. Question 10 options: equal to the market value of a firm's total assets minus its total liabilities generally most associated with intangible assets a measure of the use of debt in a firm's capital structure valuable to a firm even though liquid assets tend to be less profitable to own equal to current assets minus current liabilities

Answers

Answer:

valuable to a firm even though liquid assets tend to be less profitable to own

Explanation:

Paul’s Pizza Parlor bakes pizza pies according to Q = 3 L – 0.3 L 2. If labor costs $6 and pizza sells for $10, the optimal amount of labor is:

Answers

Answer: 4 units of labor

Explanation:

Optimum amount of labor occurs where marginal revenue equals marginal cost which means:

Marginal revenue product = Cost of labor

Marginal revenue product = Marginal product of labor * Prize of pizza

Marginal product of labor = differentiation of Q

= dQ/dL

= d(3L - 0.3L²)

= 3 - 0.6L

Marginal revenue product = (3 - 0.6L) * 10

= 30 - 6L

Marginal revenue product = Cost of labor

30 - 6L = 6

30 - 6 = 6L

L = 24/6

= 4 units of labor

what does it mean to be "in the red"

Answers

Answer:

The expression "in the red" is used to describe a business that has negative earnings. This is in contrast to the phrase "in the black" which refers to businesses that are profitable and financially solvent. ... Before the use of computers, accountants recorded income in black ink and expenses in red ink.

Explanation:

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Synovec Company is growing quickly. Dividends are expected to grow at a rate of 30 percent for the next three years, with the growth rate falling off to a constant 4 percent thereafter. If the required return is 10 percent, and the company just paid a dividend of $2.65, what is the current share price

Answers

Answer:

$87.03

Explanation:

Calculation to determine the current share price

First step is to calculate p1

p1= $2.65(1+.30)^3(1+.04) / (.10 - .04)

p1= $2.65(1.30)^3(1.04) / (.10 - .04)

p1=6.054932/.06

p1=100.92

Now let calculate the Current price

p0= [$2.65(1.30) / 1.10] +[$2.65(1.30)^2 / 1.10^2] + [$2.65(1.30)^3 / 1.10^3] + [$100.92/ 1.10^3]

p0=3.1318+4.4782/1.21+5.82205/1.331+$100.92/1.331+

p0=3.1318+3.700992+4.37419+75.82

p0=$87.03

Therefore the current share price is $87.03

Assume Sheryl Jenkins wants to accumulate $ 13,241.39 in two years. She currently has $ 10,621.36 to invest. What interest rate must she earn on her investment (that is, if she deposits $ 10,621.36 today) to have $ 13,241.39 exactly two years from today?

Answers

Answer: 11.65%

Explanation:

The $13,241.39 is a future value amount as it is what is to be accumulated in 2 years.

Future value formula therefore applies:

Future value = Current value * ( 1 + interest rate) ^ no. of years

13,241.39 = 10,621.36 * ( 1 + i) ²

(1 + i)² = 13,241.39 / 10,621.36

(1 + i)² = 1.24667556697

1 + i = √1.24667556697

i = 1.116546267 - 1

i = 11.65%

What is the reasoning behind having the seven Fed Board of Governors remain for 14 years on the Federal Reserve?
a) Participating in the Fed for the 14 year time period allows the board members to build up seniority and on-the-job understanding
b) Longer terms for board members fosters longer relationships and builds strong networks to push through financial changes to the economy.
c) The longer terms are to insulate the members from immediate political pressures and have them focus solely on economic solutions for the nation.

Answers

Answer: c) The longer terms are to insulate the members from immediate political pressures and have them focus solely on economic solutions for the nation.

Explanation:

The Fed is independent of the U.S. Government but can still face significant pressure from the U.S. Government as it is the President that nominates the Board of Governors and the Senate confirms them.

Much like Justices on the Supreme Court who get their positions the same way, these governors have to be protected from being used as political pawns so they are given long terms in office to ensure that they can pursue an independent policy without having to worry about the current administration coming after them if they go contrary to its will.

Question 2: Global production company wants to collect data from the computer
buyers. AS A business research, explain which survey method of data collection would
be more appropriate. Justify your answer.

Answers

Answer:

ANswer to the following question is as follows;

Explanation:

Companies aim to acquire data from computer customers by surveying their business in the worldwide production market. This kind of data collecting delivers a more comprehensive survey than individual data gathering, is less costly, and saves time, and has a high response rate.

According to the present market circumstances, I recommended utilising a postal survey and in-person interviews study as a company researcher.

Carmichael Inc. has a beginning balance in Accounts Receivable of $100,000 at June 1. On June 24, Carmichael sells $20,000 of merchandise to K. Low, terms 2/10, n/30. Assuming just this one transaction occurred, what is the ending balance in Accounts Receivable at June 30 under the gross method

Answers

Answer:

$120,000

Explanation:

Particulars                                                                   Amount

Beginning balance in accounts receivables A/C    $100,000

Add: Credit sales                                                       $20,000

Ending balance in accounts receivables A/C        $120,000

MC Qu. 99 The Work in Process Inventory account... The Work in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $5,220 debit balance after all posting is completed. The cost sheet of the one job still in process shows direct material cost of $2,200 and direct labor cost of $1,000. Therefore, the company's overhead application rate is:

Answers

Answer:

202%

Explanation:

Calculation to determine what the company's overhead application rate is

First step is to calculate the Total manufacturing overhead using this formula

Total manufacturing overhead = Overhead rate - Direct material cost - Direct labor cost

Let plug in the formula

Total manufacturing overhead =5220 - 2,200 - 1000

Total manufacturing overhead =2020

Now let determine the overhead application rate using this formula

Overhead application rate=Total manufacturing overhead/Direct labor cost

Let plug in the formula

Overhead application rate=2020/1000*100

Overhead application rate=202%

Therefore, the company's overhead application rate is:202%

On May 7, Jernigan Company purchased on account 640 units of raw materials at $15 per unit. During May, raw materials were requisitioned for production as follows: 224 units for Job 200 at $13 per unit and 294 units for Job 305 at $15 per unit.

Required:
Journalize the entry on May 7

Answers

Answer:

Date               Account Title                                              Debit               Credit

May 7             Materials                                                 $9,600

                      Accounts Payable                                                            $9,600

Working:

= Units purchased * cost per unit

= 640 * 15

= $9,600

As the goods were purchased on account, they will be sent to accounts payable. Materials are assets so they will be debited when acquired.

Discuss the six HRM practices from which companies can choose for implementing their strategy. Illustrate by specific examples.

Answers

Answer:

Explanation:

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3. Which of the following is NOT a factor of production?
a. land
d. entrepreneurship
b. output
e. capital
c. inputs

Answers

Answer:

Output.

Explanation:

because it is an effect of production but not a factor.

Output in I think this is right

You are considering purchasing a house in Collin County that costs $350,000. You are debating whether to finance the house for 15 or 30 years. The 15-year mortgage allows you to pay off the house quicker at an interest rate of 2%. However, the 30-year mortgage offers a lower mortgage payment at an interest rate of 2.75%. Which of the following answers is closest to the difference between the 15 and 30-year monthly mortgage payment?

a. 800
b. 600
c. 400
d. 1200
e. 1000

Answers

Answer:

d

Explanation:

i believe this should be correct

The Chandler Group wants to set up a private cemetery business. According to the CFO, Barry M. Deep, business is "looking up". As a result, the cemetery project will provide a net cash inflow of $57,000 for the firm during the first year, and the cash flows are projected to grow at a rate of 7 percent per year forever. The project requires an initial investment of $759,000. The firm requires a 14 percent return on such undertakings. The company is somewhat unsure about the assumption of a 7 percent growth rate in its cash flows. At what constant rate of growth would the company just break even?

Answers

Answer: 6.49%

Explanation:

The constant rate of growth where the company would break even will be calculated thus:

Initial investment = Net cash inflow / (14% - g)

759000 = 57,000/(0.14 - g)

where g = growth rate

759000 = 57,000/(0.14 - g)

Cross multiply

759000(0.14 - g) = 57000

106260 - 759000g = 57000

759000g = 106260 - 57000

759000g = 49260

g = 49260/759000.

g = 0.0649

g = 6.49%

The growth rate that would lead the business to breakeven is 6.49%.

At breakeven, the growth rate would lead to the cash inflows from the project being just enough to pay back the initial investment put into the catering business.

This growth rate is calculated by the formula:

Growth rate = ( (Investment * return rate) * - First cash inflow) / Investment

= ( (759,000 * 14%) - 57,000) / 759,000

= 6.49%

The growth rate that would lead the business to breakeven is therefore 6.49%.

Find out more at https://brainly.com/question/13186160.

When the interest rate in an economy decreases, it is likely the result of either a/an ________ or a/an ________.

Answers

Answer:

expansionary practice; open market purchase of securities by the Fed.

Explanation:

Fiscal policy in economics refers to the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as Aggregate Demand (AD), inflation, and employment within a country. Fiscal policy is in relation to the Keynesian macroeconomic theory by John Maynard Keynes.

A fiscal policy affects combined demand through changes in government policies, spending and taxation which eventually impacts employment and standard of living plus consumer spending and investment.

Basically, an expansionary fiscal policy will cause the total increase in aggregate demand to be greater than the initial increase in aggregate demand due to the multiplier process.

Hence, when the interest rate in an economy decreases, it is likely the result of either an expansionary practice or an open market purchase of securities by the Federal Reserve System (Fed).

According to the Keynesian theory, government spending or expenditures should be increased and taxes should be lowered when faced with a recession, in order to create employment and boost the buying power of consumers

Jamon is a manager in a human resources organization. He has a message for Bob who works on the assembly line. What channel is he likely to use get the message to Bob

Answers

Answer: All of the above

Explanation:

The options include:

a. Face-to-face

b. Telephone

c. Electronic mail

d. All of the above

Since the manager manager has a message for Bob, any of the communication channels given here can be used.

There is no preferred communication channel here. The manager may decided to tell Bob the message face to face when he sees him. Also, he can call him on the telephone or send an email to him.

Therefore, the correct option is All of the above.

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