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FIN534 Homework Set 2 Solutions$7.50
FIN534 Homework Set 2
Directions: Answer the following questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in the course shell. This homework assignment is worth 100 points. Assume that you are nearing graduation and have applied for a job with a local bank. The bank’s evaluation process requires you to take an examination that covers several financial analysis techniques. Use the following information for Questions 1 through 2:
- What is the present value of the following uneven cash flow stream −$50, $100, $75, and $50 at the end of Years 0 through 3? The appropriate interest rate is 10%, compounded annually
- Suppose that on January 1 you deposit $100 in an account that pays a nominal (or quoted) interest rate of 11.33463%, with interest added (compounded) daily. How much will you have in your account on October 1, or 9 months later? $108.85
Questions 3 and 4: A firm issues a 10-year, $1,000 par value bond with a 10% annual coupon and a required rate of return is 10%.
- What is the yield to maturity on a 10-year, 9% annual coupon, $1,000 par value bond that sells for $887.00? That sells for $1,134.20? What does a bond selling at a discount or at a premium tell you about the relationship between rd and the bond’s coupon rate?
- What are the total return, the current yield, and the capital gains yield for the discount bond in Question #3 at $887.00? At $1,134.20? (Assume the bond is held to maturity and the company does not default on the bond.)
FIN 534 Boehm’s Homework Set 10$20.00
Data for question 1 – 4 growth rate 8% (for past 10 years) dividends 2013 2.6 million Net Income 2013 9.8 million Net Income 2014 12.6 million Investment 7.3 million target debt ratio 35% Calculate Boehm’s total dividends for 2014 under each of the following policies: 1 Its 2014 dividend payment is set to force dividends to grow at the long-run growth rate in earnings. 2 It continues the 2013 dividend payout ratio. 3 It uses a pure residual policy with all distributions in the form of dividends (35% of the $7.3 million investment is financed with debt). 4 It employs a regular-dividend-plus-extras policy, with the regular dividend being based on the long-run growth rate and the extra dividend being set according to the residual policy. 5 What is the incremental profit? To get a rough idea of the project’s profitability, what is the project’s expected rate of return for the next year (defined as the incremental profit divided by the investment)? Should the firm make the investment? Why or why not? 6 Would the firm’s break-even point increase or decrease if it made the change? 7 What is the return on equity for each firm if the interest rate on current liabilities is12% and the rate on long-term debt is 15%? 8 Assume that the short-term rate rises to 20%, that the rate on new long-term debt rises to 16%, and that the rate on existing long-term debt remains unchanged. What would be the return on equity for Firm A and Firm B under these conditions? 9 In 1983 the Japanese yen-U.S. dollar exchange rate was 250 yen per dollar, and the dollar cost of a compact Japanese-manufactured car was $10,000. Suppose that now the exchange rate is 120 yen per dollar. Assume there has been no inflation in the yen cost of an automobile so that all price changes are due to exchange rate changes. What would the dollar price of the car be now, assuming the car’s price changes only with exchange rates?
Final Paper Financial Analysis Apple, Inc.$25.00
BUS 650 Week 6 Final Paper Financial Analysis Apple, Inc.
The Final Project will involve applying the concepts learned in class to an analysis of a company using data from its annual report. Using the concepts from this course, you will analyze the strengths and weaknesses of the company and write a report either recommending or not recommending purchase of the company stock.
The completed report should include:
An introduction to the company, including background information.
A complete and thorough financial statement review.
Pro Forma financial statements (Balance Sheet and Income Statement) for the next two fiscal years, assuming a 10% growth rate in sales and Cost of Goods Sold (COGS) for each of the next two years.
Complete ratio analysis for the last fiscal year using at least two ratios from each of the following categories:
b. Financial leverage
c. Asset management
e. Market value
Calculate Return on Equity (ROE) using the DuPont system.
Assess management performance by calculating Economic Value Added (EVA).
Review of the soundness of the company’s financial policies (e.g. capital structure, debt, leverage, dividend policy, etc.) based on the material covered during class.
A synopsis of your findings, including your recommendations and rationale for whether or not to purchase stock from this company.
This report should be 15 – 20 pages long excluding title page and reference page(s) using APA 6th edition formatting guidelines. Support your findings and recommendations with evidence from at least five scholarly sources in addition to the annual report; such as the textbook, industry reports, and articles from the Ashford library. Be sure to include links to websites that were used as references or to access company information.
FIN 534 Week 4 Homework Set$12.50
FIN 534 Week 4 Homework Set
Fin534 Financial Management
- What is the present value of the following uneven cash flow stream − $50, $100, $75, and $50 at the end of Years 0 through 3? The appropriate interest rate is 10%, compounded annually
- We sometimes need to find out how long it will take a sum of money (or something else, such as earnings, population, or prices) to grow to some specified amount. For example, if a company’s sales are growing at a rate of 20% per year, how long will it take sales to double?
- Will the future value be larger or smaller if we compound an initial amount more often than annually — for example, every 6 months, or semiannually—holding the stated interest rate constant? Why?
- What is the effective annual rate (EAR or EFF%) for a nominal rate of 12%, compounded semiannually? Compounded quarterly? Compounded monthly? Compounded daily?
- Suppose that on January 1 you deposit $100 in an account that pays a nominal (or quoted) interest rate of 11.33463%, with interest added (compounded) daily. How much will you have in your account on October 1, or 9 months later?
- What would be the value of the bond described above if, just after it had been issued, the expected inflation rate rose by 3 percentage points, causing investors to require a 13 % return? Would we now have a discount or a premium bond?
- What would happen to the bond’s value if inflation fell and declined to 7%? Would we now have a premium or a discount bond?
- What is the yield to maturity on a 10-year, 9% annual coupon, $1,000 par value bond that sells for $887.00? That sells for $1,134.20? What does a bond selling at a discount or at a premium tell you about the relationship between and the bond’s coupon rate?
- What are the total return, the current yield, and the capital gains yield for the discount bond in Question #8 at $887.00? At $1,134.20? (Assume the bond is held to maturity and the company does not default on the bond.)
Goodman Industries’ and Landry Quiz$20.00
Directions: Answer the following questions on this document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in the course shell. This homework assignment is worth 100 points. Use the following information for questions 1 through 8: The Goodman Industries’ and Landry Incorporated’s stock prices and dividends, along with the Market Index, are shown below. Stock prices are reported for December 31 of each year, and dividends reflect those paid during the year. The market data are adjusted to include dividends. Goodman Industries Landry Incorporated Market Index Year Stock Price Dividend Stock Price Dividend Includes Divi- dends 2013 $25.88 $1.73 $73.13 $4.50 17.49 5.97 2012 22.13 1.59 78.45 4.35 13.17 8.55 2011 24.75 1.50 73.13 4.13 13.01 9.97 2010 16.13 1.43 85.88 3.75 9.65 1.05 2009 17.06 1.35 90.00 3.38 8.40 3.42 2008 11.44 1.28 83.63 3.00 7.05 8.96 1. Use the data given to calculate the annual returns for Goodman, Landry, and the Market Index, and then calculate average annual returns for the two stocks and the index. (Hint: Remember, returns are calculated by subtracting the beginning price from the ending price to get the capital gain or loss, adding the dividend to the capital gain or loss, and then dividing the result by the beginning price. Assume that dividends are already included in the index, Also, you cannot calculate the rate of return for 2008 because you do not have 2007 data.) 2. Calculate the standard deviations of the returns for Goodman, Landry, and the Market Index. (Hint: Use the sample standard deviation formula given in the chapter, which corresponds to the STDEV function in Excel.) 3. Estimate Goodman’s and Landry’s betas as the slopes of regression lines with stock return on the vertical axis (y-axis) and market return on the horizontal axis (x-axis). (Hint: Use Excel’s SLOPE function.) Are these betas consistent with your graph? 4. The risk-free rate on long-term Treasury bonds is 6.04%. Assume that the market risk premium is 5%. What is the required return on the market using the SML equation? 5. If you formed a portfolio that consisted of 50% Goodman stock and 50% Landry stock, what would be its beta and its required return. 6. What dividends do you expect for Goodman Industries stock over the next 3 years if you expect the dividend to grow at the rate of 5% per year for the next 3 years? In other words, calculate D1, D2, and D3. Note that D0 = $1.50 7. Assume that Goodman Industries’ stock, currently trading at $27.05, has a required return of 13%. You will use this required return rate to discount dividends. Find the present value of the dividend stream, that is, calculate the PV of D!, D2, and D3, and then sum these PVs. 8. If you plan to buy the the stock, hold it for 3 years, and then sell it for $27.05, what is the most you should pay for it? (Problem 7-19) Use the following information for Question 9: Suppose now that the Good Industries (1) trades at a current stock price of $30 with a (2) strike price of $35. Given the following information: (3) time to expiration is 4 months, (annualized risk-free rate is 5%, and (5) variance of stock return is .25. 9. What is the price for a call option using the Black-Scholes model?
Danone Strategy Case Study$25.00
Danone Strategy Case Study
Chapter 1: Distinctive features of Danone’s strategy under Franck Riboud’s leadership 5
1.1 Danone’s strategy 6
1.2 A social business 6
1.3 Change of governance 7
Chapter 2: Successfulness of Danone’s strategy 8
2.1 Corporate strategy successfulness 8
2.2 Dairy division successfulness 9
2.3 Water Division successfulness 9
2.4 Early life nutrition successfulness 9
2.5 Medical nutrition successfulness 9
Chapter 3: Extend of food industry local or global. 10
Chapter 4: Danone’s competitive advantage. 12
Chapter 5: Recommendations 14
Appendix 1: Danone’s sales business lines 1996 – 2014 21
Appendix 2: Porters 5-forces model 22
2.1 Porter five forces analysis 22
Competitive rivalry 22
Power of suppliers 24
Consumer bargaining power 24
Barriers of entry 24
Appendix 3: Financial information Danone 2009 – 2014 (values in € million) 25
Appendix 3.1: Danone income per product category. 26
Appendix 3.2: Net profit/income (depending on annual report) 26
Appendix 3.3 Sales comparison 26
Appendix 3.3 Dividend 26
Appendix 3.4: Comparison dairy products profits in millions 27
Appendix 3.5: Comparison water products profits in millions 27
Appendix 3.6: Comparison medical nutrition products profits in millions 27
Appendix 3.7 Danone Cash flow 27
Appendix 4: Threshold and distinctive capabilities 28
Appendix 5: VRIN model 29
Appendix 6: SWOT analysis 30
Appendix 7: Value network 31
Appendix 8: BCG matrix 34
Appendix 9 comparison of business structures 35
ECO 561 Week 6 Final Proposal$25.00
Baby Prestige Business Proposal
ECO 561 Week 6 Final Proposal –
Individual Assignment – Final Proposal
Resource: Business Proposal and Peer Review feedback.
Revise your Week Four business proposal using the feedback provided by your peers and facilitator as necessary. In addition to your week four paper, the second part of your paper will use the revised information to recommend appropriate pricing and non pricing strategies for your new or existing good or service based on the projected economy’s stage in the business cycle and the prevailing projected economic conditions for one or more macroeconomic factors. Explain the
evidence that supports these recommendations.
• Describe the current global economic conditions and their effect on local macroeconomic indicators for your good or service.
• Describe the local economy’s stage in the business cycle.
• Describe how current credit market conditions affect your planning or
operating decision for your good or service.
• No more than 2100 words (in addition to the 1400 word paper completed in week four, an additional three pages at most is needed)
Click the Assignment Files tab to submit your assignment.
Personal Budget Balance Sheet and Cash Flow Statement$15.00
ACC 547 Week 1 Individual Assignment
Individual Assignment Personal Budget Balance Sheet and Cash Flow Statement
Individual Assignment: Personal Budget, Balance Sheet, and Cash Flow Statement
Â· Choose a client or yourself. For confidentiality purposes, use a fictitious name.
Â· Prepare a personal budget, balance sheet, and cash flow statement.
Â· Write a memo that includes the following:
A summary of the facts, including ages of the client, spouse, and dependents; educational background; income status of client and spouse; and two major concerns and goals.
Summary of key items and findings from the personal budget, balance sheet, and cash flow statement.
Recommendations and support for improving the financial situation
Assignment Accounting Standards Boards Paper$12.50
ACC 541 Week 1 Individual Assignment Accounting Standards Boards Paper
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are currently working on a joint venture referred to as the convergence project.
Write a 1,050- to 1,400-word paper describing the relationship between the IASB and the FASB. Include the following in your paper:
A brief history of the relationship between the two boards and the IASB equivalents of the FASB original pronouncements
An explanation of how the MSA program prepares the student for a professional life within the accounting vocation
Format your paper consistent with APA guidelines, including appropriate citations and references. Run your paper through WritePointSM and Plagiarism Checker.