a) The game can be shown in the form of an extensive game as follows: b) To find the subgame perfect Nash equilibrium (SPNE) of the game, first we need to identify the subgames and solve them from the bottom up. In the game tree above, the tree can be divided into two subgames, which are circled and labeled as SG1 and SG2 below: In SG2, Dog Fish head has a choice between ENTER and NOT ENTER. If Dog Fishhead chooses NOT ENTER, AB Inbev will earn $100.
Therefore, Dog Fish head will always choose ENTER in this subgame. In SG1, given that Dog Fishhead chooses ENTER, ABInbev has a choice between FIGHT and ACCOMMODATE. If ABInbev chooses FIGHT, it will earn $30 and Dog Fishhead will earn $-10. If ABInbev chooses ACCOMMODATE, it will earn $60 and Dog Fishhead will earn $25. The normal form representation of the game is as follows: There are two Nash equilibria of the game: (ENTER, ACCOMMODATE) and (ENTER, FIGHT).
However, the only SPNE of the game is (ENTER, FIGHT). c) Whether ABInbev is threatening to FIGHT a credible threat can be determined by comparing the payoffs of ABInbev from fighting and accommodating. If ABInbev can earn a higher payoff from fighting, then fighting is a credible threat. AB Inbev can earn $30 by fighting and $60 by accommodating. Therefore, fighting is not a credible threat for ABInbev.
d) The minimum payoff for FIGHT to be a credible threat is $60. If ABInbev can earn $60 or more by fighting, then fighting will be a credible threat. In this game, ABInbev can earn only $30 by fighting, so fighting is not a credible threat.
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The following information was taken from the books and records of Eurton Corp: 1. Net income, 2017 $4,500 2. Capital structure: a. Convertible bonds: 30 bonds issued and outstanding. Each $100 par value bond is convertible into 10 shares of common. $3,000 b. Noncumulative $50 par value preferred stock, 20 shares outstanding $1,000 c. Common stock, \$1 par, 2,000 shares issued and outstanding $2,000 3. Other data: a. The bonds, preferred, and common shares were outstanding for all of 2017. b. None of the bonds were converted during the year. c. The income tax rate is 30%. d. The bonds carry a 5% interest rate ( $150 total per year). e. Preferred has a 4% annual dividend requirement. No dividends are in arrears. f. Dividends paid during 2017: Preferred $40; Common $120. a. Compute basic and diluted earnings per share for 2017. Carry all answers to three decimal places. (10 pts) Basic EPS Calculations: Diluted EPS Calculations: b. Find diluted earnings per share for 2017, now assuming that the convertible debt was issued on December 01, 2017. All other facts remain unchanged. (5 pts) Diluted EPS Calculations:
The diluted eps is still $2.250.
a. basic eps: $2.250; diluted eps: $2.250.
a. to calculate basic eps, divide the net income ($4,500) by the weighted average number of common shares outstanding (2,000). basic eps = $4,500 / 2,000 = $2.250.
to calculate diluted eps, we need to consider the potential conversion of the convertible bonds. since none were converted, the diluted eps is the same as the basic eps: $2.250.
b. diluted eps: $2.184.
b. with the assumption that the convertible debt was issued on december 01, 2017, we need to consider its potential impact on diluted eps. since the bonds were issued after the income statement date, we exclude them from the calculation.
the weighted average number of common shares outstanding remains the same (2,000 shares). however, if any bonds were converted during the year, the potential additional common shares would be considered in the diluted eps calculation. since no conversions occurred, the diluted eps remains $2.
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Hot Topic, a chain that sells rock-band-inspired clothes for teens, launched Torrid to give plus-size teens the same fashion options. Identify the three parts of the value delivery process and their function for Hot Topic.
The three parts of the value delivery process for Hot Topic are product, distribution, and customer service.
1. Product: Hot Topic focuses on providing rock-band-inspired clothes for teens. They understand the fashion preferences of their target market and curate a collection that appeals to their unique style. By offering a range of clothing options that cater to this niche, they fulfill the first part of the value delivery process.
2. Distribution: Hot Topic ensures that their products are readily available to their target audience. They have a chain of stores where customers can physically browse and purchase their desired items. Additionally, they have an online presence that enables customers to conveniently shop from the comfort of their own homes. By establishing both physical and online distribution channels, Hot Topic ensures accessibility to their products.
3. Customer service: Hot Topic places importance on providing quality customer service. They aim to create a positive shopping experience for their customers by offering assistance, answering queries, and addressing concerns. By prioritizing customer satisfaction and engagement, they strengthen the relationship with their target market and build loyalty.
In summary, Hot Topic's value delivery process includes offering rock-band-inspired products, ensuring their availability through various distribution channels, and providing excellent customer service to cater to the needs of plus-size teens.
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You purchased shares of a mutual fund at a price of $20 per share at the beginning of the year and paid a front-end load of 6.0%. If the securities in which the fund invested increased in value by 10% during the year, and the fund's expense ratio was 1.5%, your return if you sold the fund at the end of the year would be. b. A mutual fund had average daily assets of $4.7 billion in 2016. The fund sold $2.2 billion worth of stock and purchased $3.6 billion worth of stock during the year. The fund's turnover ratio is C. A mutual fund had NAV per share of $37.12 on January 1,2016 . On December 31 of the same year, the fund's rate of return for the year was 11.0%. Income distributions were $2.26, and the fund had capital gain distributions of $1.64. Without considering taxes and transactions costs, what ending NAV would you calculate? d. A mutual fund had NAV per share of $23.00 on January 1, 2016. On December 31 of the same year, the fund's NAV was $23.15. Income distributions were $0.63, and the fund had capital gain distributions of $1.26. Without considering taxes and transactions costs, what rate of return did an investor receive on the fund last year? e. A mutual fund had year-end assets of $437,000,000 and liabilities of $37,000,000. If the fund NAV was $60.12, how many shares must have been held in the fund? f. A mutual fund had year-end assets of $560,000,000 and liabilities of $26,000,000. There were 23,850,000 shares in the fund at year end. What was the mutual fund's net asset value? g. The Profitability Fund had NAV per share of $17.50 on January 1, 2016. On December 31 of the same year, the fund's NAV was $19.47. Income distributions were $0.75, and the fund had capital gain distributions of $1.00. Without considering taxes and transactions costs, what rate of return did an investor receive on the Profitability Fund last year?
a. The return of the mutual fund can be calculated by considering the initial investment, front-end load, increase in the value of securities, and the expense ratio.
To calculate the return, we first need to calculate the net investment by subtracting the front-end load from the initial investment:
Net investment = Initial investment - (Front-end load % * Initial investment)Next, we calculate the total value of the investment at the end of the year by adding the increase in the value of securities to the net investment:Total value at the end of the year = Net investment + (Increase in value % * Net investment)Finally, we subtract the expense ratio from the total value at the end of the year to get the return:
Return = Total value at the end of the year - (Expense ratio % * Total value at the end of the year)b. The turnover ratio of a mutual fund can be calculated by dividing the total value of stock sold during the year by the average daily assets of the fund. To calculate the turnover ratio:
Turnover ratio = (Value of stocks sold during the year / Average daily assets) * 100 c. To calculate the ending NAV (Net Asset Value) of a mutual fund, we need to consider the rate of return, income distributions, and capital gain distributions.First, we calculate the change in NAV by multiplying the rate of return by the initial NAV:
Change in NAV = Rate of return * Initial NAV
Next, we add the income distributions and capital gain distributions to the change in NAV to get the total increase in NAV:
Total increase in NAV = Change in NAV + Income distributions + Capital gain distributions Finally, we add the total increase in NAV to the initial NAV to get the ending NAV: Ending NAV = Initial NAV + Total increase in NAVd. To calculate the rate of return on a mutual fund, we need to consider the change in NAV, income distributions, and capital gain distributions.
First, we calculate the change in NAV by subtracting the initial NAV from the ending NAV: Change in NAV = Ending NAV - Initial NAV Next, we subtract the income distributions and capital gain distributions from the change in NAV to get the total return:
Total return = Change in NAV - Income distributions - Capital gain distributions Finally, we divide the total return by the initial NAV to get the rate of return: Rate of return = (Total return / Initial NAV) * 100
e. To calculate the number of shares held in a mutual fund, we need to consider the year-end assets, liabilities, and NAV. First, we calculate the net assets by subtracting the liabilities from the year-end assets:
Net assets = Year-end assets - Liabilities Next, we divide the net assets by the NAV to get the number of shares held in the fund:
Number of shares = Net assets / NAV f. To calculate the net asset value (NAV) of a mutual fund, we need to consider the year-end assets, liabilities, and the number of shares in the fund.
First, we calculate the net assets by subtracting the liabilities from the year-end assets: Net assets = Year-end assets - Liabilities Next, we divide the net assets by the number of shares to get the NAV: NAV = Net assets / Number of shares g. To calculate the rate of return on the Profitability Fund, we need to consider the change in NAV, income distributions, and capital gain distributions.
First, we calculate the change in NAV by subtracting the initial NAV from the ending NAV:
Change in NAV = Ending NAV - Initial NAV Next, we subtract the income distributions and capital gain distributions from the change in NAV to get the total return:
Total return = Change in NAV - Income distributions - Capital gain distributions Finally, we divide the total return by the initial NAV to get the rate of return: Rate of return = (Total return / Initial NAV) * 100
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Labour supply is the result of the decisions by government of Canada employers and employees together firms and managers individuals and households Question 2 1 pts The basic neoclassical model of labour market assumes homogeneous workers, homogeneous jobs, and perfect competition. In this model, there is no involuntary unemployment in equilibrium the equilibrium wage must be equal zero the supply of labour is equal to the demand for labour at any wage rate in equilibrium, everybody is employed Consider the basic neoclassical model of labour market. Other things equal, an increase in demand for labour decreases employment and decreases wages decreases employment and increases wages increases employment and increases wages increases employment and decreases wages Question 5 1 pts Among the quality dimensions of labour supply are wages and salaries education, work effort and intensity labour force participation and hours of work hours of work and wages Consider the basic neoclassical model of labour market. Other things equal, a decrease in demand for labour decreases unemployment and decreases wages decreases employment and decreases wages decreases employment and increases wages increases unemployment and decreases wages
The basic neoclassical model of the labor market assumes homogeneous workers, homogeneous jobs, and perfect competition.
In this model, there is no involuntary unemployment in equilibrium, and the supply of labor is equal to the demand for labor at any wage rate.
The assumption of homogeneous workers implies that all workers possess the same skills and abilities, making them interchangeable in the labor market. Similarly, the assumption of homogeneous jobs suggests that all jobs are identical in terms of skill requirements and responsibilities. Perfect competition implies that both employers and employees have perfect information and can freely enter and exit the labor market.
In this model, the equilibrium wage rate is determined by the intersection of the labor supply and labor demand curves. Any increase in the demand for labor would result in an increase in employment and an increase in wages, as more workers are needed at higher wage rates. Conversely, a decrease in the demand for labor would lead to a decrease in employment and a decrease in wages.
When considering the quality dimensions of labor supply, factors such as wages and salaries, education, work effort and intensity, labor force participation, and hours of work play important roles. Changes in these dimensions can influence the overall supply of labor and impact employment and wages in the labor market.
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Suppose the price of gelatin falls, all other things equal. What is going to happen in the leather market? The ff leather is going to and shift to the As a result, the new equilibrium price of leather will be than before, and the new equilibrium quantity will be Hint: These are very useful questions. You must be able to analyze them using your shifters, and explain your logic in writing. You must also be able to draw the graph for each market and show which curve shifts, and what happens from E
1
to E
2
.
If the price of gelatin falls, all other things being equal, the price of leather is also going to fall. The decrease in the price of gelatin, a key input in the production of leather, will reduce the cost of producing leather, which will shift the supply curve for leather to the right, resulting in a fall in the price of leather, while the quantity of leather demanded and supplied will rise.
Therefore, the price of leather will drop, and the quantity of leather traded will increase as a result of this scenario.
Furthermore, the leftward shift of the supply curve will result in a new equilibrium price of leather that is lower than the old equilibrium price of leather, as the supply curve shifts to the right in response to the decline in gelatin prices. Meanwhile, the new equilibrium quantity will be higher than the old equilibrium quantity.
In conclusion, as the price of gelatin drops, the cost of producing leather declines, causing a shift in the supply curve for leather to the right. This shift results in a drop in the price of leather and a rise in the quantity of leather traded. Furthermore, the new equilibrium price of leather will be lower than before, while the new equilibrium quantity will be greater than before.
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DKM Digitals Ltd is a retail business that sells 134 units of one particular brand of computers per week. The company purchases computers from Deggs Company and the purchase-order lead time is 4 weeks, and the economic-order quantity has been computed as 313 computers. Calculate the reorder point of computers for DKM Digitals.
The reorder point of computers for DKM Digitals Ltd is 542.92 units.
The reorder point for DKM Digitals Ltd can be calculated as follows:Reorder Point = (Average Daily Usage x Lead Time in days) + Safety Stock
The first step is to calculate the average daily usage, which can be found by dividing the weekly usage by 7 (since there are 7 days in a week):Average Daily Usage = 134 units / 7 days = 19.14 units/day
The lead time is given as 4 weeks, which means the lead time in days is 4 x 7 = 28 days.Safety stock is the extra inventory that a company keeps on hand to protect against unexpected demand or supply chain disruptions. It is usually expressed as a percentage of the average daily usage.
Let's assume a safety stock of 10%. Therefore, Safety Stock = 0.1 x 19.14 units/day = 1.91 units/daySubstituting the values into the reorder point formula:Reorder Point = (19.14 units/day x 28 days) + 1.91 units/day = 542.92 units
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Len and Joan intend to invest $200,000 in their CompuTech Sales and Service retail store. Their financial projections show that during the first year of operations, CompuTech will generate $25,000 in profit, with subutantial increases in the following years. To finance their business, Len and Joan will need $100,000 in loans (shont tem and long term borrowings) from the bank at 6% (after taxes). The other $100,000 will come from their savings. The Millers are currently earning 8% (after taxes) on their savings. Len and Joan intend to invest $200,000 in their CompuTech Sales and Service retail store. Their financial projections show that during the first year of operations, CompuTech will generate $25,000 in profit, with substantial increases in the following years. To finance their business, Len and Joan will need $100,000 in loans (short term and long term borrowings) from the bank at 6% (after taxes). The other $100,000 will come from their savings. The Millers are currently earning 8% (after taxes) on their savings.
The retail store CompuTech Sales and Service generated $227,000 in total net cash flow during its first full year of operation.
In order to improve their retail CompuTech Sales and Service location, Len and Joan plan to invest $200,000. According to their financial estimates, CompuTech will make a profit of $25,000 in the first year of operations, with significant growth in the succeeding years.
Len and Joan will require $100,000 in loans (short- and long-term borrowings) from the bank at 6% (after taxes) to fund their firm. They will draw the remaining $100,000 from their savings, which currently generate 8% (after taxes).
Let's now determine how much net cash flow was generated by financing and investment activities:
Financial activity net cash flow: Loan proceeds equal $100,000 * (1 - 0.06) = $94,000.
Cash flow generated through investing: Savings from $100,000 multiplied by (1 + 0.08) equals $108,000.
Now that we know the overall net cash flow for the first year, we can compute it:
Profit plus net cash flow from financing operations plus net cash flow from investment activities equals total net cash flow.
$25,000 plus $94,000 plus $108,000 equals total net cash flow.
Consequently, the retail store CompuTech Sales and Service generated a total net cash flow of $227,000 during its first year of operation.
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Analyzing Mixed Costs
The Metropolis Health System has a system-wide training course for nurse aides. The course requires a packet of materials that MHS calls the training pack. Due to turnover and because the course is system-wide, there is a monthly demand for new packs. In addition, the local community college also obtains the training packs used in their credit courses from MHS.
The Education Coordinator needs to know how much of the cost is fixed and how much of the cost is variable for these training packs. She decides to use the high-low method of computation.
Required
Using the monthly utilization information presented below, find the fixed and variable portion of costs through the high-low method.
Number of
Month Training Packs Cost
January 1,000 $6,200
February 200 1,820
March 250 2,350
April 400 3,440
May 700 4,900
June 300 2,730
July 150 1,470
August 100 1,010
September 1,100 7,150
October 300 2,850
November 250 2,300
December 100 1,010
The fixed cost for the training packs is $1,000, with a variable cost of $4.50 per unit.
1. Identify the highest and lowest activity levels:
In this case, the highest activity level is 1,000 training packs in January, while the lowest activity level is 100 training packs in August.
2. Calculate the change in cost and activity:
The change in cost is $6,200 (January cost) - $1,010 (August cost) = $5,190.
The change in activity is 1,000 (January packs) - 100 (August packs) = 900.
3. Calculate the variable cost per unit:
Divide the change in cost by the change in activity:
$5,190 / 900 = $5.77 per training pack.
4. Calculate the fixed cost:
To find the fixed cost, we can use either the highest or lowest activity level and its corresponding cost. Let's use the lowest activity level:
Fixed Cost = Cost at Lowest Activity - (Variable Cost per Unit * Lowest Activity)
Fixed Cost = $1,010 - ($5.77 * 100)
= $1,010 - $577
= $433.
Therefore, the fixed cost for the training packs is $433, and the variable cost per unit is $5.77.
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7 (Tax Preparer's Penalties) For each of the following independent cases, indicate whether you believe any penalty would be assessed under ITA 163.2 on any of the parties involved. Explain your conclusion Case 1 A company has established a limited partnership by acquiring a software application from a non-arm's length individual for $450,000. Units in the limited partnership are being sold by the company The prospectus for the offering states that the fair market value of the acquired application is $10 million, a value based on the work of an independent appraiser. The limited partnership is registered with the CRA as a tax shelter. On audit, the CRA determines that the $450,000 that was paid for the software application is, in fact, its fair market value on the date of the transfer. In questioning the approach used by the appraiser, that individual indicated that his work was based largely on assumptions provided by the company sponsoring the limited partnership offering. The appraiser's fee for the work was $150,000 Case 2 A very successful accountant lives next door to what appears to be a wealthy neighbour. Based on similar properties, his house appears to be worth more than $2 million and he has three cars, including a Ferrari and a Mercedes-Benz In the last two years, the two neighbours have become friends As his accountant has retired, the neighbour asks the accountant to prepare his tax return. To this end, the neighbour provides a T5 that shows income of $90,000. As this appears to be on the low side, the accountant asks if he has any other source of income. The neighbour indicates that he does not, but also noting that a few years ago, he won $20 million in the provincial lottery, The accountant does not ask any further questions and prepares and files the return. When the friend is audited it is discovered that he has over $500,000 in unreported income. Case 3 In preparing a tax return for one of his clients, an accountant uses the financial statements of another accountant to determine the client's business income inclusion. The accountant does not see anything in these statements that seems unreasonable. When his client's return is audited, the CRA finds that the business income financial state- ments prepared by the other accountant contained material misrepresentations, Case 4 In preparing a tax return for a new client, an accountant uses the client's accounting state- ments to calculate the client's net business income. As part of this engagement, the accountant reviews both the expense and revenue information that has been provided to him by the new client. The expenses seem to be related to the type of business of the client and the revenue and expense figures contained in the accounting statements seem reasonable. Given this, the accountant files the required tax return When the client is audited, the CRA finds a large proportion of the expenses claimed cannot be substantiated by adequate documentation and may not have been incurred. Furthermore, it appears that the client has a substantial amount of unreported revenues Case 5 In preparing a tax return for a new client, the accountant determines that his only income is $75,000 in business income. In preparing the Tax Payable figure, the accountant is advised by the client that he made a $110,000 charitable contribution during the current year. However, he has lost the receipt. He has requested a replacement but has not received it yet. As it is now April 29, to avoid a late filing penalty the accountant files the tax return, claiming a tax credit for the contribution without seeing the receipt
In case 1, the appraiser's fee of $150,000 is likely to be considered a "gross entitlement" under ITA 163.2(1)(b).
In Case II, the accountant may be subject to a penalty under ITA 163.2(4).
In Case III, the accountant may not be subject to a penalty under ITA 163.2.
How to analyze the cases ?Case 1:
The company that sponsored the limited partnership offering may also be subject to a penalty under ITA 163.2(1)(a). This is because the company made a false statement in the prospectus for the offering by stating that the fair market value of the acquired application was $10 million. The penalty for the company could be up to $250,000.
Case II:
The accountant knew, or should have known, that the neighbour had unreported income of over $500,000. The penalty for the accountant could be up to $100,000.
Case III:
The accountant did not see anything in the financial statements that seemed unreasonable. However, the accountant may want to consider whether they should have done more to verify the accuracy of the financial statements.
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Use the following items taken from the financial statements of the Postal Service for the year ending December 31, 2019 to answer questions 5:
Accounts payable ........................................................$10,000
Accounts receivable ......................................................11,000
Accumulated depreciation – equipment ....................28,000
Advertising expense ......................................................21,000
Cash ................................................................................14,000
Owner’s capital (12/31/19) .........................................105,000
Owner’s drawings .........................................................14,000
Depreciation expense ..................................................12,000
Insurance expense ..........................................................3,000
Note payable, due 6/30/20 .............................................5,000
Prepaid insurance (6 - month policy).............................6,000
Rent expense .................................................................17,000
Salaries and wages expense ........................................32,000
Service revenue ...........................................................125,000
Supplies (Inventory).........................................................4,000
Supplies expense ............................................................6,000
Equipment (Long-term) ............................................ 210,000
What is the Working Capital of the Postal Service at December 31, 2019?
To calculate the working capital of the Postal Service at December 31, 2019, we need to use the formula:
Working Capital = Current Assets - Current Liabilities
Current assets are assets that are expected to be converted into cash within one year, while current liabilities are obligations that are due within one year.
From the given financial statement items, we can identify the following current assets and liabilities:
Current Assets:
- Accounts receivable: $11,000
- Cash: $14,000
- Prepaid insurance: $6,000
- Supplies (Inventory): $4,000
Current Liabilities:
- Accounts payable: $10,000
Now, let's calculate the working capital:
Working Capital = (Accounts receivable + Cash + Prepaid insurance + Supplies) - Accounts payable
Working Capital = ($11,000 + $14,000 + $6,000 + $4,000) - $10,000
Working Capital = $35,000 - $10,000
Working Capital = $25,000
Therefore, the working capital of the Postal Service at December 31, 2019, is $25,000.
Please note that working capital is an important financial measure that indicates the short-term liquidity and operational efficiency of a business. A positive working capital generally signifies that a company has enough current assets to cover its current liabilities, which is considered favorable.
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Imprudential, Inc., has an unfunded pension liability of $577 million that must be paid in 15 years. To assess the value of the firm's stock, financial analysts want to discount this liability back to the present. If the relevant discount rate is 7 percent, what is the present value of this liability? (Do not round intermediate calculations and enter your answer in dollars not in millions, rounded to 2 decimal places, e.g., 1,234,567.89.)
the present value of the unfunded pension liability is approximately 336,698,628.36.
The formula to calculate the present value is:
[tex]P V = F V / (1 + r)^n[/tex]
Where:
P V = Present value
F V = Future value
r = Discount rate
n = Number of periods
Plugging in the given values:
[tex]P V = 577 million / (1 + 0.07)^15[/tex].
Simplifying the equation:
[tex]P V = 577 million / (1.07)^15[/tex]
Using a calculator, raise 1.07 to the power of 15:
[tex]P V = 577 million / 1.71381283[/tex]
Dividing the unfunded pension liability by the result:
P V = 336,698,628.36.
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Football is widely accepted as the "world’s game". Based on the course lectures and readings, answer the following: a. What factors have pushed football to be so popular around the world? b. Name three (3) of football’s major global events and briefly describe the competition format of each. c. Name three (3) issues facing football and how they are relevant to the wider international sport world.
a. Football's popularity around the world can be attributed to several factors. b. Three major global events: the FIFA World Cup, the UEFA Champions League, and the Copa America.c. Three issues are corruption, inequality, and player welfare.
a. Football's popularity around the world can be attributed to several factors. Firstly, its simplicity and accessibility make it easy for people of all ages and backgrounds to play.
Additionally, football has a rich history and tradition, with passionate fans and iconic clubs that generate a sense of community and identity. The competitive nature of the sport, with its exhilarating matches and unpredictable outcomes, also adds to its appeal. Furthermore, the global reach of media and broadcasting platforms has helped popularize football by making it easily accessible to audiences worldwide.
b. Three major global events in football are the FIFA World Cup, the UEFA Champions League, and the Copa America. The FIFA World Cup is a tournament held every four years, where national teams from around the world compete for the title.
It features a qualification process and a final tournament with multiple rounds leading to the final match. The UEFA Champions League is an annual competition among the top football clubs in Europe. It involves a group stage followed by knockout rounds, culminating in a final match. The Copa America is the oldest international football tournament in the world, featuring national teams from South America. It follows a similar format to the World Cup, with group stages and knockout rounds.
c. Three issues facing football are corruption, inequality, and player welfare. Corruption scandals within football governing bodies have raised concerns about the integrity of the sport and the fairness of decision-making processes. Inequality is a significant issue, with a few wealthy clubs dominating resources and talent, limiting the competitiveness of smaller clubs and leagues.
Player welfare is also a concern, with issues such as player safety, excessive workload, and inadequate support for mental health. These issues resonate with the wider international sports world as they highlight the need for transparency, fairness, and the prioritization of player well-being in sports governance and management. Efforts are being made to address these issues through reforms, regulations, and collective actions by stakeholders in the football community.
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Pure expectations theory: Multi-year periods Kyoko would like to invest a certain amount of money for three years and considers investing in (1) a one-year bond that pays 3 percent, followed t a two-year bond that pays the forward rate, or (2) a three-year bond that pays 8 percent in each of the next three years. Kyoko is considering the following investment strategles: Strategy A: Buy a one-year bond that pays 3 percent in year one, then buy a two-year bond that pays the two-year forward rate in years two and three. Strategy B: Buy a three-year bond that pays 8 percent in each of the next three years. If the two-year bond purchased one year from now pays 7 percent annually, Kyoko will choose Which of the following describes conditions under which Kyoko would be indifferent between Strategy A and Strategy B? The rate on the two-year bond purchased one year from now is 10.590 percent. The rate on the two-year bond purchased one year from now is 11.543 percent. The rate on the two-year bond purchased one year from now is 9.107 percent. The rate on the two-year bond purchased one year from now is 9.743 percent.
Kyoko would be indifferent between Strategy A and Strategy B if the rate on the two-year bond purchased one year from now is 10.590 percent.
To determine when Kyoko would be indifferent between Strategy A and Strategy B, we need to compare the total returns of the two strategies over the three-year investment period.
Strategy A:
Year 1: Buy a one-year bond at 3 percent.
Year 2: Buy a two-year bond at the forward rate.
Year 3: Receive the payments from the two-year bond.
Strategy B:
Buy a three-year bond at 8 percent and receive the payments over three years.
For Strategy A, the one-year bond's return in Year 1 is 3 percent. In Year 2, Kyoko would buy a two-year bond at the forward rate, which we need to determine based on the interest rates given.
If the rate on the two-year bond purchased one year from now is 10.590 percent, then the forward rate for the second and third years would be 10.590 percent as well. Therefore, the return for Strategy A in Year 2 would be 10.590 percent.
For Strategy B, the three-year bond pays 8 percent annually. Therefore, the return for each year is 8 percent.
Now we can calculate the total returns for each strategy:
Strategy A:
Year 1: 3 percent
Year 2: 10.590 percent
Year 3: 10.590 percent
Total return for Strategy A = 3 percent + 10.590 percent + 10.590 percent = 24.180 percent
Strategy B:
Year 1: 8 percent
Year 2: 8 percent
Year 3: 8 percent
Total return for Strategy B = 8 percent + 8 percent + 8 percent = 24 percent
Based on the calculations, if the rate on the two-year bond purchased one year from now is 10.590 percent, Kyoko would be indifferent between Strategy A and Strategy B. Both strategies would result in a total return of approximately 24.180 percent over the three-year investment period.
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Zelda purchases $10,000 of supplies on account. the effects of this transaction are to?
The effects of Zelda's purchase of $10,000 of supplies on account are an increase in Supplies (asset) and an increase in Accounts Payable (liability).
The effects of Zelda's purchase of $10,000 of supplies on account would typically include the following:
1. Increase in Supplies: The transaction would increase the Supplies account by $10,000. Supplies are considered an asset on the balance sheet, so the asset side of Zelda's balance sheet would increase by $10,000.
2. Increase in Accounts Payable: Since Zelda purchased the supplies on account, she has an obligation to pay the supplier at a later date. The transaction would increase the Accounts Payable account by $10,000. Accounts Payable is a liability on the balance sheet, so the liability side of Zelda's balance sheet would also increase by $10,000.
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Lab R Doors' year-end price on its common stock is $40. The firm has total assets of $75 million, the debt ratio is 60 percent, there is no preferred stock, and there are 4 million shares of common stock outstanding. Calculate the marketto-book ratio for Lab R Doors. Multiple Choice 2.13 3.20 5.33 10.00
The market-to-book ratio for Lab R Doors can be calculated based on the given information. The market-to-book ratio measures the market value of a company's common stock relative to its book value.
To calculate the market-to-book ratio, we need to determine the book value of Lab R Doors' common stock and the market value of the common stock.
The book value of the common stock is calculated by dividing the total equity by the number of shares outstanding. Since there is no preferred stock, the total equity is equal to the total assets minus the total debt. In this case, the book value of the common stock is:
Book Value per Share = (Total Assets - Total Debt) / Number of Shares Outstanding
The market value of the common stock is simply the year-end price of the stock per share.
Once we have the book value per share and the market value per share, we can calculate the market-to-book ratio by dividing the market value per share by the book value per share.
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A swot analysis allows a marketer to evaluate the company's overall strengths, weaknesses, opportunities and threats.
a. true
b. false
A swot analysis allows a marketer to evaluate the company's overall strengths, weaknesses, opportunities and threats.The statement is a. True.
In various fields, such as business, finance, science, and research, analysis plays a crucial role in decision-making and problem-solving. Here are a few common types of analysis:
Financial Analysis: Involves assessing a company's financial statements, ratios, and performance indicators to evaluate its financial health, profitability, and efficiency.
SWOT Analysis: Examines the strengths, weaknesses, opportunities, and threats of a business or organization to understand its internal capabilities and external market dynamics.
A SWOT analysis is a strategic planning tool used by marketers and other professionals to assess the internal and external factors that can impact a company's performance. It helps identify the company's strengths and weaknesses (internal factors) as well as opportunities and threats (external factors) in its operating environment. By conducting a SWOT analysis, marketers gain insights that can be used to develop effective marketing strategies and make informed business decisions.
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which difficulties did builders of the transcontinental railroad find ways to overcome? choose all answers that are correct. a need for workers a need for workers providing supplies to build the tracks and support the workers providing supplies to build the tracks and support the workers lack of money invested by businesses and the government lack of money invested by businesses and the government natural barriers such as mountains, rivers, and forests
The difficulties builders of the transcontinental railroad overcame include the need for workers, providing supplies, and natural barriers.
The challenges that manufacturers of the cross-country railroad tracked down ways of defeating include:
1. A requirement for laborers: The development of the cross-country railroad required a huge labor force. Manufacturers needed to address this need by selecting workers, which included Irish outsiders, Chinese settlers, and Nationwide conflict veterans.
2. Giving supplies to fabricate the tracks and backing the laborers: Manufacturers needed to guarantee a consistent stockpile of materials, like wood, iron, devices, and arrangements, to help the development endeavors and support the specialists engaged with the venture.
3. Absence of cash contributed by organizations and the public authority: The supporting of the cross-country railroad was a huge test. Developers depended on both confidential venture from organizations and government financing to get the vital capital for development.
They needed to explore monetary obstacles and secure sources of financial support to keep the venture pushing ahead.
4. Regular hindrances like mountains, waterways, and backwoods: The development of the railroad confronted topographical obstructions, including crossing mountains, connecting streams, and clearing thick woodlands.
Manufacturers created imaginative designing arrangements, for example, building passages and extensions, and carrying out reviewing methods to defeat these normal hindrances.
In synopsis, developers of the cross-country railroad needed to conquer difficulties connected with work, supplies, supporting, and regular hindrances to effectively finish this stupendous foundation project.
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Answer: a need for workers
natural barriers such as mountains, rivers, and forests
Explanation: k12 quiz
Identify the important elements of sales taxation in the state of Arkansas. What governments levy general and selective sales taxes? Identify the following for the RST: What commodity sales are exempt? Are services taxed? What is the nominal rate? Does your state provide sales tax credit/rebates through its income tax? In regard to selective excises: What selective excises are used? Are they ad valorem or specific? What rates apply?
In the state of Arkansas, the important elements of sales taxation include the levying of general and selective sales taxes by different levels of government.
The general sales tax is levied by the state government, while selective sales taxes may be levied by both the state and local governments.
In terms of the RST (Retail Sales Tax), certain commodity sales are exempt from taxation. These exemptions include sales of groceries, prescription drugs, and agricultural products. However, it's important to note that services are generally taxed in Arkansas.
The nominal rate of the state's retail sales tax is 6.5%.
This rate applies to most taxable sales in the state.
In regards to sales tax credit/rebates through income tax, Arkansas does not provide sales tax credit or rebates.
Moving on to selective excises, Arkansas imposes excise taxes on specific goods such as cigarettes, beer, and gasoline. These selective excises can be ad valorem or specific, depending on the type of product. For example, the excise tax on gasoline is specific, while the excise tax on cigarettes is ad valorem based on the price.
The specific rates for selective excises vary depending on the product. For instance, the excise tax on a pack of cigarettes is $1.15, while the excise tax on gasoline is currently 24.5 cents per gallon.
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VariCorp offers employee benefits such as flex-time, sabbaticals, and onsite daycare. VariCorp knows its employees have a need for Mutiplo Chaice meaningful work: a positive work environment. exponding their skils. work-lde balance.
Vari Corp offers a range of employee benefits that cater to their employees' needs for meaningful work, a positive work environment, expanding their skills, and work-life balance.
Flex-time allows employees to have more control over their work hours, enabling them to balance their personal and professional commitments effectively. With flex-time, employees can choose their preferred start and end times within a specified range.
Sabbaticals are extended periods of time off granted to employees, usually after a certain number of years of service. This benefit allows employees to take a break from work and engage in activities such as travel, further education, or personal development. Sabbaticals help employees rejuvenate and come back to work with renewed energy and motivation.
Onsite daycare is an employee benefit provided by Vari Corp that offers childcare services within the workplace premises. This convenience allows working parents to have peace of mind, knowing that their children are nearby and well-cared for while they focus on their work responsibilities.
Vari Corp recognizes that employees value a positive work environment that fosters growth and the opportunity to expand their skills. By creating a supportive and nurturing workplace culture, Vari Corp encourages employees to develop their talents, learn new skills, and enhance their professional capabilities.
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Megan is already looking ahead to graduation and a job, and she wants to buy a new car not long after her graduation. if after graduation she begins an investment program of $2400 per year in an investment yielding 6 percent, what will be the value of the fund after three years?
The value of the fund after three years will be approximately $7,542.24.
To calculate the value of the fund after three years, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the final amount (value of the fund)
P = the principal amount (investment per year)
r = annual interest rate (as a decimal)
n = number of times interest is compounded per year
t = number of years
In this case, Megan invests $2,400 per year, the annual interest rate is 6% (or 0.06 as a decimal), interest is compounded annually (n = 1), and the investment period is three years (t = 3). Plugging these values into the formula, we get:
A = 2400(1 + 0.06/1)^(1*3)
A = 2400(1 + 0.06)^3
A ≈ 2400(1.06)^3
A ≈ 2400(1.191016)
A ≈ 7,542.24
Therefore, the value of the fund after three years will be approximately $7,542.24.
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Capacity Analysis, multiple products) Jane's Powders Inc. sells two products: cologne and perfume. Cologne has a profit margin of $3 per ounce, and each ounce requires 2 grams of fragrance and 6 grams of intensifier. Perfume has a profit margin of $8 per ounce, and each ounce requires 4 grams of fragrance, 2 grams of intensifier, and 1 gram of stabilizer. Jane has limited supplies. In particular, she has 1600 grams of fragrance per week, 1800 grams of intensifier per week, and 350 grams of stabilizer per week. How many ounces of cologne and perfume should she produce per week to maximize the profit earned from her supplies? Please use Excel Solver to solve this problem.
The aim is to increase profit: Profit = 3x + 8y.
To maximize profit, Jane needs to determine the number of ounces of cologne and perfume she should produce per week. Let's denote the number of ounces of cologne as x and the number of ounces of perfume as y.
For cologne:
- Profit = $3/ounce
- Fragrance required = 2 grams/ounce
- Intensifier required = 6 grams/ounce
For perfume:
- Profit = $8/ounce
- Fragrance required = 4 grams/ounce
- Intensifier required = 2 grams/ounce
- Stabilizer required = 1 gram/ounce
Now, let's set up the constraints based on the limited supplies:
- Fragrance constraint: 2x + 4y ≤ 1600 grams
- Intensifier constraint: 6x + 2y ≤ 1800 grams
- Stabilizer constraint: y ≤ 350 grams
The objective is to maximize profit: Profit = 3x + 8y.
Using this information, you can set up a linear programming problem and solve it using Excel Solver or any other suitable method to find the optimal values of x and y.
In this problem, we need to maximize the profit earned from producing cologne and perfume, given the limited supplies of fragrance, intensifier, and stabilizer. By setting up constraints based on the available supplies and using the profit margins of each product, we can create a linear programming problem. Solving this problem will yield the optimal number of ounces of cologne and perfume to produce per week.
Please note that Excel Solver is a tool that can be used to solve such problems, but its usage is not essential to understanding the concept and solving the problem manually.
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Hydrated Raisins, Inc., a natural foods company, was concerned that their high turnover might be due to their compensation. To benchmark themselves against other companies, Hydrated Raisins should undertake a:
Group of answer choices
Federal Wage Audit
Pay Survey
Compa Ratio Analysis
Multiple Regression Analysis
BFOQ Analys
Hydrated Raisins, Inc. should undertake a Pay Survey to benchmark themselves against other companies in order to address their concern about high turnover possibly being related to their compensation. A Pay Survey involves gathering data on compensation practices and levels within similar industries and job roles to compare and evaluate their own compensation structure.
This stepwise process includes selecting relevant job roles, collecting data on compensation practices, analyzing the data, and drawing conclusions based on the findings. Pay Surveys provide valuable insights and help companies make informed decisions about their compensation strategies.
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Write a review report based on this article: "Market Concentration in Pakistan’s Cement Industry by "Saira Hannan, Syeda Zehra Abbas, Syyeda Farwah Naqvi"
Requirements:
1) Make glossary and mention the definitions/formulas of all the indices which are used in the article.
2) Write review for the article which must have study location, time frame, data sources, methodology, results and conclusion.
Glossary and definitions/formulas of indices used in the article are mentioned below: Concentration Ratio (CR)The Concentration Ratio (CR) is calculated by adding the market shares of the top (i.e. largest) firms in the market and it shows the degree of concentration in the market.
For example, the CR4 is the market share of the top four firms in the industry.Hirschman-Herfindahl Index (HHI)The Herfindahl-Hirschman Index (HHI) is calculated by summing the squared market shares of all the firms in the market. It measures the level of market concentration in the industry, where HHI values above 0.18 are considered highly concentrated. The formula for HHI is: HHI = ∑Si2 where Si
= market share of firm iStudy location, time frame, data sources, methodology, results and conclusion of the article are mentioned below:Study Location:The study is based on the cement industry of Pakistan.
Time Frame:The article is based on a recent data of the fiscal year 2015-16.Data Sources:Secondary data sources including industry publications, reports of State Bank of Pakistan, the All Pakistan Cement Manufacturers Association and company annual reports were used to analyze the data.Methodology:Descriptive statistics, concentration ratios (CR) and Herfindahl-Hirschman Index (HHI) were used to analyze the market structure of the cement industry.
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Indicate Whether Prepaid Expenses And Accrued Fevenues Result In Deferred Tax Assets (DTAs) Or Deferred Tax Labuities (DTLS):
Prepaid expenses result in deferred tax assets, while accrued revenues result in deferred tax liabilities. Prepaid expenses are considered as future expenses that have been paid in advance.
Prepaid expenses are the expenses that have been paid in a financial year but do not relate to the current year. These expenses are considered as assets in the balance sheet. They are not directly used in the current financial year but can be used for future years.
Accrued revenue is the revenue that has been earned but not yet received in cash or any other form of payment. These revenues are generally reported by businesses in their financial statements. Accrued revenues are also known as unbilled revenues. Accrued revenue is considered a liability in the balance sheet.
DTAs (Deferred tax assets) are created when a company has overpaid taxes or paid taxes in advance. Prepaid expenses result in deferred tax assets because the prepaid expenses have already been paid for, and the tax is already paid on these expenses. These expenses can be used in future years, and the tax on these expenses will be recorded in future years.
DTLs (Deferred tax liabilities) are created when a company has underpaid taxes or has paid taxes in advance. Accrued revenues result in deferred tax liabilities as taxes on revenues earned but not yet received have already been paid, and the revenue is not yet received.
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A Hegal entity" which can sue and be sued, make and be party to contracts, and acquire property in its own name is a sole proprietorship. a partnership. a corporation. a professional partnership.
The owners can be personally liable for the debts and obligations of the business.
a corporation.
a corporation is a legal entity that can sue and be sued, enter into contracts, and acquire assets in its own name. unlike sole proprietorships or partnerships, a corporation is a separate legal entity from its owners (shareholders). this means that the corporation can conduct business independently, enter into legal agreements, and be held liable for its actions. it offers limited liability protection to its shareholders, meaning their personal assets are generally not at risk in the event of corporate debts or legal disputes. on the other hand, sole proprietorships and partnerships do not provide the same level of separation between the business and its owners, and a professional partnership, while it can engage in certain business activities, typically refers to a specific type of partnership formed by professionals in fields such as law or medicine.
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Problem 4-18
Future Value of an Annuity for Various Compounding Periods
Find the future values of the following ordinary annuities:
A. FV of $200 paid each 6 months for 7 years at a nominal rate of 8%, compounded semiannually. Round your answer to the nearest cent. $
B. FV of $100 paid each 3 months for 7 years at a nominal rate of 8%, compounded quarterly. Round your answer to the nearest cent. $
A. The future value of the annuity is approximately $2,793.30.
B. The future value of the annuity is approximately $2,838.01.
To calculate the future values of the given ordinary annuities:We can use the formula for the future value of an annuity:
FV = P * [(1 + r/n)^(n*t) - 1] / (r/n)
Where:
FV = Future value of the annuity
P = Payment amount
r = Nominal interest rate
n = Number of compounding periods per year
t = Number of years
A. FV of $200 paid each 6 months for 7 years at a nominal rate of 8%, compounded semiannually:
P = $200
r = 8% = 0.08
n = 2 (semiannually compounding)
t = 7
FV = $200 * [(1 + 0.08/2)^(2*7) - 1] / (0.08/2)
Using a calculator, we can evaluate the expression to find the future value:
FV = $200 * [(1 + 0.04)^(14) - 1] / (0.04)
FV ≈ $2,793.30
Therefore, the future value of the annuity is approximately $2,793.30.
B. FV of $100 paid each 3 months for 7 years at a nominal rate of 8%, compounded quarterly:
P = $100
r = 8% = 0.08
n = 4 (quarterly compounding)
t = 7
FV = $100 * [(1 + 0.08/4)^(4*7) - 1] / (0.08/4)
Using a calculator, we can evaluate the expression to find the future value:
FV = $100 * [(1 + 0.02)^(28) - 1] / (0.02)
FV ≈ $2,838.01
Therefore, the future value of the annuity is approximately $2,838.01.
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When the owner of a proprietorship invests personal cash in the business, the two accounts affected are cash and:_____.
When the owner of a proprietorship invests personal cash in the business, the two accounts affected are cash and the owner's equity or capital account.
The cash account is debited to increase the cash balance in the business, reflecting the inflow of personal funds. On the other hand, the owner's equity or capital account is credited to represent the increase in the owner's investment.
This increase in equity indicates that the owner has contributed personal resources to the business, thereby increasing their ownership stake. By debiting cash and crediting the owner's equity, the accounting records accurately reflect the infusion of personal funds into the proprietorship, maintaining the balance between assets (cash) and equity (owner's investment) in the accounting equation.
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The biological oxidation of alanine to urea, carbon dioxide and water is described by the following equation: 2×CH
3
CHNH
3
+
COO
−
(s)+6×O
2
(g)→H
2
NCONH
2
(s)+5×H
2
O(l)+5×CO
2
(g) n the following, consider the oxidation of 19 g alanine in a solid state. eacts. Determine Δ
r
S
25
∘
C
∘
, the standard reaction entropy at a temperature of 25
∘
C. Provide your answer with 3 significant figures. The error margin is 1%. Δ
r
S
25
∘
C
∘
= Determine Δ
r
G
25
∘
C
∘
, the standard reaction free energy at a temperature of 25
∘
C. Provide your answer with 3 significant figures. The error margin is 1%. 2 Determine Δ
r
G
25
∘
C
, the standard reaction free energy at a temperature of 37
∘
C assuming, that the temperature-dependence of Δ
r
H
∘
and Δ
r
S
∘
can be neglected. Provide your answer with 3 significant figures. The error margin is 1%.
To determine the standard reaction entropy (ΔrS°) at a temperature of 25°C, we can use the formula:
ΔrS° = ΣνS°(products) - ΣνS°(reactants)
Where:
ΔrS°: Standard reaction entropy
ν: Stoichiometric coefficient
S°: Standard molar entropy of the substance
Using the balanced equation provided, we can identify the stoichiometric coefficients and the standard molar entropies for each substance involved:
2×CH3CHNH3+COO−(s) + 6×O2(g) → H2NCONH2(s) + 5×H2O(l) + 5×CO2(g)
Stoichiometric coefficients:
ν(CH3CHNH3+COO−) = 2
ν(O2) = 6
ν(H2NCONH2) = 1
ν(H2O) = 5
ν(CO2) = 5
Standard molar entropies (S°):
S°(CH3CHNH3+COO−) = ?? (Value needed)
S°(O2) = ?? (Value needed)
S°(H2NCONH2) = ?? (Value needed)
S°(H2O) = ?? (Value needed)
S°(CO2) = ?? (Value needed)
To calculate ΔrS°, we need the standard molar entropies for each substance involved in the reaction. Please provide the corresponding values, and I can assist you further in calculating ΔrS°, ΔrG°(25°C), and ΔrG°(37°C).
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A bank accepts a deposit for $50 million by issuing a 90-day NCD with interest at 6%.
(a) What is the NCD’s face value?
(b) The depositor decides to sell the NCD at a market yield of 6.5% after holding it for 55 days. What proceeds do she receive?
(a) To calculate the face value of the NCD, we need to determine the amount that will be paid back to the depositor after 90 days. The formula to calculate the maturity value of the NCD is:
Maturity value = Principal + (Principal * Interest Rate * Time)
Given:
Principal (deposit) = $50 million
Interest Rate = 6% or 0.06
Time = 90 days
Maturity value = $50 million + ($50 million * 0.06 * 90/365)
Maturity value = $50 million + ($50 million * 0.06 * 0.2466)
Maturity value = $50 million + ($738,900)
Maturity value = $50,738,900
Therefore, the face value of the NCD is $50,738,900.
(b) To calculate the proceeds received by the depositor when selling the NCD at a market yield of 6.5% after holding it for 55 days, we need to determine the remaining time until maturity and calculate the discounted value of the NCD.
Remaining time until maturity = 90 days - 55 days
Remaining time until maturity = 35 days
To calculate the proceeds, we discount the face value based on the market yield (6.5%) and the remaining time until maturity:
Proceeds = Face value / (1 + Yield/365)^(Remaining time until maturity)
Proceeds = $50,738,900 / (1 + 0.065/365)^35
Proceeds = $50,738,900 / (1 + 0.0001781)^35
Proceeds = $50,738,900 / 1.006235
Proceeds ≈ $50,433,449.47
Therefore, the depositor would receive approximately $50,433,449.
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2.Suppose that Mack Industries has annual sales of $10 million, cost of goods sold of $6.5 million, average inventories of $1 million, and average accounts receivable of $600,000. Assuming that all of Mack's sales are on credit, what will be the firm's operating cycle
Mack Industries' operating cycle is approximately 78.05 days. This means that, on average, it takes the company 78.05 days to convert its inventory into cash through the sales process, considering the average age of inventory and the average collection period.
To calculate Mack Industries' operating cycle, we need to consider the time it takes for the company to convert its resources (inventories) into cash through the sales process. The operating cycle consists of two components: the average age of inventory and the average collection period.
First, we calculate the average age of inventory:
Average Age of Inventory = (Average Inventories / Cost of Goods Sold) * 365 days
Average Age of Inventory = ($1,000,000 / $6,500,000) * 365 days
Average Age of Inventory ≈ 56.15 days
Next, we calculate the average collection period:
Average Collection Period = (Average Accounts Receivable / Sales) * 365 days
Average Collection Period = ($600,000 / $10,000,000) * 365 days
Average Collection Period ≈ 21.9 days
Finally, we can calculate the operating cycle:
Operating Cycle = Average Age of Inventory + Average Collection Period
Operating Cycle ≈ 56.15 days + 21.9 days
Operating Cycle ≈ 78.05 days
Therefore, Mack Industries' operating cycle is approximately 78.05 days.
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