FSTI Holdings has 4 major investments in its portfolio, and you have been asked to determine their current market value. Its holdings are as follows:
2. It owns 250,000 shares of Cornwall Systems, for which it paid $15 per share in 2003. Cornwall’s dividend has been growing at a steady rate of 2.8% per year. Given the somewhat risky nature of the company’s business model, the market’s required return on its shares is 8.5%.
Calculate the current value of each of these holdings, using the following assumptions.
2. Cornwall Systems has recently gone private, and thus does not have a quoted market price per share. However, it continues to pay dividends regularly, and its most recent dividend was $1.70, and is still expected to grow at 2.8% per year. However, as a privately-held company, an additional liquidity premium of 1.5% needs to be added to its required return.
Answers
The current value of the investment in Cornwall Systems is $17.
To calculate the current value of the investment in Cornwall Systems, we can use the dividend discount model (DDM) formula. The formula is as follows:
\(\( \text{Current Value} = \frac{\text{Dividend}}{\text{Required Return} - \text{Dividend Growth Rate}} \)\)
Given the information provided:
- Dividend: $1.70
- Dividend Growth Rate: 2.8%
- Required Return: 8.5% + 1.5% (due to the liquidity premium)
Let's calculate the current value:
\(\( \text{Current Value} = \frac{1.70}{0.085 + 0.015} \)\)
\(\( \text{Current Value} = \frac{1.70}{0.1} \)\)
\(\( \text{Current Value} = 17 \)\)
Therefore, the current value of the investment in Cornwall Systems is $17.
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Related Questions
George wants to be a registered nurse, so the best course of training is:
OA. a four-year college degree.
OB. on the job training.
OC. a trade school certificate.
OD. a graduate school after college.
Answers
If George wants to be a registered nurse, the best course of training is: A. a four-year college degree.
Who is a registered nurse?A registered nurse can be defined as someone who is qualified to practice nursing and have been giving the license to practice nurse.
Hence, Option A is correct because to be a registered nurse the person must meet the necessary requirements and one of the requirement that must be meet is to have a bachelor's degree in nursing or a four-year college degree in nursing from an accredited university or college.
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Answer:
A
Explanation:
i just got it's right
Which of the following tips can help you avoid electrical
shock from a computer? (Select three answers.)
Unplug the computer before performing maintenance.
| Keep liquids away from the computer.
Open up the computer while it is turned on to see
what's wrong.
D Use only the keyboard and not the mouse when
performing maintenance.
Make sure the computer doesn't have worn out wiring.
Wash the inside of the computer with water to keep it clean.
Answers
1) Unplug the computer before preforming maintenance.
2) Keep liquids away from computer.
3) Make sure the computer doesn’t have a worn out wiring.
I hope this helped :)
All of the following are true for those who are not responsible with credit EXCEPT which one?
A: They have a higher balance that is carried over month to month
B: They charge fewer items or make the full payment each month
C: They charge more items, even if they cant pay the entire amount
D: They end up paying more in interest fees
Answers
All of the following are true for those who are not responsible with credit EXCEPT They charge fewer items or make the full payment each month.
What is meant by credit?This is the term that is used to refer to the fact that a person is able to get a way of paying for the goods and services that they make use of through the use of credit card that is issued to them by a credit facility.
The issue here is that the people that have a bad credit would have to be paying more in fees at the end of the day because it would keep piling. They would also have greater credit balance that they are to pay as well.
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3. Of the following provisions that might be found in a bond indenture, which would tend to reduce the coupon interest rate on the bond in question?
a
A subordination clause in a debenture.
b
A call provision.
c
A convertible feature.
d
Having relatively few restrictive covenants.
e.
All of the above.
Answers
The bond in question's coupon interest rate would typically be reduced by a convertible feature.
Define the term "convertible feature"?An asset that can be changed by the shareholder into common stock is known as a convertible, which can be a bond, preference share, or other type of financial instrument. Convertible securities aren't considered to be either debt or equity; rather, they're viewed as a cross between the two groups because they have the cash flow characteristics of both bonds and stocks.
What distinguishes a convertible bond from other bonds?An investment that may be converted into a predetermined number of shares of common stock is known as a convertible bond. It pays fixed-income interest payments. During the bond's term, the bond can be converted into stock at precise points at the bondholder's option.
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A business traveler joined the starwood preferred guest program in order to earn points each time he stayed overnight in a westin or sheraton hotel. Once he has accumulated enough points, he can trade his points in for a free night's stay. As a member of this program, the traveler receives periodic updates on new hotels and learns of ways to earn additional points. The marketing term that best describes this scenario is
Answers
This scenario is an example of loyalty marketing that rewards customers for their repeat business. Loyalty marketing programs, such as the Starwood Preferred Guest program, incentivize customers to stay at specific hotels or use specific services by offering rewards such as points or discounts.
These programs offer customers a number of benefits, including access to exclusive offers and benefits, priority booking and a simplified booking process. Points earned through the program can be exchanged for free stays, discounts or other rewards. By engaging customers multiple times, loyalty programs help foster better relationships between businesses and their customers, leading to increased customer loyalty and potential future business.
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Planning, implementing, and controlling the physical flow of a product from its point of origin to its point of consumption is called
Answers
The planning, implementing, and controlling the physical flow of a product from its point of origin to its point of consumption is distribution.
What is distribution?It should be noted that distribution simply means the process through which goods move from the producers to the consumers.
It is the planning, implementing, and controlling the physical flow of a product from its point of origin to its point of consumption.
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because of the considerable cost, time, and effort, pretesting is generally considered necessary only in the case of extensive, complex questionnaires.
Answers
Pretesting is an important step in the development of any questionnaire, but it can be especially critical when the questionnaire is complex and lengthy.
The considerable cost, time and effort required to pretest a questionnaire can be significant, making it necessary to ensure that the results are as accurate as possible. By conducting pretesting, researchers can identify potential problems with the questionnaire in terms of wording, layout or structure before it is used in a larger survey.
This allows them to make changes before they have invested too much time or money into collecting data that may not be reliable.
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in 2014, the u.s. house of representatives approved a new farm bill establishing the margin protection program (mpp) for dairy producers. assume that the program has effectively created a price floor for milk at $0.18 per pound. use the following additional information to answer the following questions: without the price floor, the equilibrium price of milk is $0.15 per pound, and the equilibrium quantity is 200 billion pounds of milk. the supply curve intersects the price axis at $0.05 and the demand curve intersects the price axis at $0.25. at the price floor of $0.18, the quantity supplied is 260 billion, and the quantity demanded is 140 billion. to support the price floor, the usda buys up the 120 billion pounds of excess milk. in the absence of a price floor, how much consumer surplus is created? how much producer surplus? what is the total surplus (producer surplus plus consumer surplus)?
Answers
The tοtal surplus with the price floor is less than the total surplus withοut the price floor.
The price flοor is fixed at $0.18 per pound.
At the price flοor, quantity supplied is 260 billion pounds and quantity demanded is 140 billiοn pounds.
Sο, there is exess supply of (260 billion pounds - 140 billion pounds) 120 billion pοunds.
This excess supply is being purchased by the USDA.
Calculate the cοnsumer surplus after price floor -
CS = 1/2 * [Price at which demand curve intersects price axis - Price floοr] * quantity demanded at price flοor
CS = 1/2 * [$0.25 - $0.18] * 140 billiοn pounds
CS = $4.9 billiοn
The cοnsumer surplus after price floor is $4.9 billionCalculate the prοducer surplus after price floor -
PS = 1/2 * [Price floοr - Price at which supply curve intersects price axis] * quantity supplied at price flοor
PS = 1/2 * [$0.18 - $0.05] * 260 billiοn pounds
PS = $16.9 billiοn
The prοducer surplus after price floor is $16.9 billion
The USDA is purchasing the excess suplpy of 120 billion pοunds of milk for $0.18 per pοund
Calculate the amοunt spent by USDA -
Amοunt spent = 120 billion pounds * $0.18 = $21.6 billion
Calculate the tοtal surplus when there is a price floor -
Tοtal surplus when there is a price floor = Consumer surplus after price flοor + Producer surplus after price floor - Amount spent by USDA
Tοtal surplus when there is a price floor = $4.9 billion + $16.9 billion - $21.6 billion = $0.2 billiοn
Thus,
The Tοtal surplus when there is a price floor is $0.2 billion.Befοre the price floor, the equilibrium price was $0.15 per pound and the equilibrium quantity was 200 billiοn pounds
Calculate the consumer surplus before price flοor -
CS = 1/2 * [Price at which demand curve intersects οf price axis - Equilibrium price] * Equilibrium quantity
CS = 1/2 * [$0.25 - $0.15] * 200 billiοn pounds
CS = $10 billiοn
The cοnsumer surplus before price floor is $10 billion
Calculate the prοducer surplus before price floor -
PS = 1/2 * [Equilibrium Price - Price at which supply curve intersects οf price axis] * Equilibrium quantity
PS = 1/2 * [$0.15 - $0.05] * 200 billiοn pounds
PS = $10 billion
The prοducer surplus before price floor is $10 billion
Calculate tοtal surplus before price floor -
Total surplus = Cοnsumer surplus before price floor + Producer surplus before price flοor
Tοtal surplus = $10 billion + $10 billion = $20 billion
The tοtal surplus before price floor is $20 billion
The tοtal surplus after price floor is $0.2 billion.
Thus,
The tοtal surplus with the price floor is less than the total surplus withοut the price floor.
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which of the following is an internal control procedure used to safeguard a company's assets? multiple choice all of these answer choices are correct segregation of duties depositing cash receipts in a bank on a timely basis preparing a bank reconciliation
Answers
Segregation of duties, depositing cash receipts in a bank on a timely basis, and preparing a bank reconciliation are internal control procedures used to safeguard a company's assets. Options A, B , and C are correct answers.
Segregation of duties is an essential internal control procedure designed to minimize the risk of fraud, error, or irregularities in financial transactions. It involves assigning different tasks to different employees to reduce the risk of fraud or errors. For example, the employee responsible for approving invoices should not also be responsible for writing checks or reconciling bank statements. This separation of tasks ensures that no single person has complete control over financial transactions.Depositing cash receipts in a bank on a timely basis is another internal control procedure that helps safeguard the company's assets. This procedure ensures that cash is not kept in the company's premises for too long and reduces the risk of theft, loss, or misuse of cash.Preparing a bank reconciliation is an internal control procedure designed to ensure that the company's bank balance matches its accounting records. This procedure helps identify errors, fraud, or irregularities in bank transactions and helps safeguard the company's assets.Thus, options A, B , and C are correct answers.
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T F Credit reports are issued monthly, so you know how much money topay toward your credit card bill.
Answers
Answer:
False
Explanation:
A financial statement can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.
Generally, financial statements are issued to recipients on a monthly basis.
A credit report can be defined as a financial document that comprises of detailed information about a person's credit history or activities with respect to borrowed money (loans). It is usually prepared by a credit bureau.
A credit score can be defined as a numerical expression between 300 - 850 that represents an individual's financial history and credit worthiness. Therefore, a credit score determines the ability of a borrower to obtain a loan from a lender.
This ultimately implies that, the higher your credit score, the higher and better it is to obtain a loan from a potential lender.
In conclusion, credit reports are issued to a customer on request and at any given time, so he or she knows how much money to pay toward your credit card bill.
Show up when it matters most even if it's difficult. Don't listen to negative talk. Focus on what you are capable of doing. This is an example of what effective communication skill?
Volume and Clarity
Responsiveness
Confidence
Sharing Feedback
Answers
Answer:
confidence
Explanation:
i took the test and made a 100
The answer is "Confidence", and its further discussion can be defined as follows:
You are going to communicate more efficiently confidence lets you speak briefly and clearly. Professionals who communicate confidently may clearly and efficiently convey what they want to their customers and colleagues. For career advancement efficient communication is essential.Regardless of how hot the issue is, reliable communicators may stick to the facts and communicate their sentiments with words rather than behaviors.No shouting, door hitting, threatening, or uncontrollable emotional outbreaks. You divide up your feelings in the hope that they can be heard, therefore confidence helps us to feel prepared to live the experiences of life.Therefore, the final answer is "Confidence".
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The key idea that workers should be treated as assets was introduced by.
Answers
Peter Drucker, the management guru, in his Practice of Management, introduced the key idea that workers should be treated as company assets and not liabilities.
Who is Peter Drucker?
Peter Drucker is the inventor and creator of modern management practices. He is famed for asserting that workers are corporate assets and should be treated as such.
Peter Drucker's other assertions:
The corporation is a human community.
There is “no business without a customer.”
Institutionalized management practices should be preferred to charismatic cult leaders.
Thus, the key idea that workers should be regarded as assets of the company was introduced by Peter Drucker.
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Under communist theory, what determines how much of each good and service is supplied?
Answers
Under Communist theory, Community central planning will be supported. As the communist believes that every asset under the boundary of that respective country is owned by the govt. everyone is given a proper portion of the resources to fulfill his needs.
In communism, everything belongs to the govt. and the producer is given according to his need and the rest of the production is acquired by the govt. In many terms lands, and assets are given to the personals to produce and establish a business but if he didn't perform then it's given to his competitors to establish and make it productive.
Community Central Planning determines the supply of goods and services. How much an individual is capable of providing and producing and according to that he's offered the services and the supplied goods.
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Do you think JNK should be more ethical? Explain your answer.
Answers
Answer:
"god is a woman"
Explanation:
"and its megan thee stallion"
how did charles ives make his living outside of music? multiple choice question. working in insurance selling vacuum cleaners manufacturing records selling cars
Answers
Correct option is (1) working in insurance.
Outside of music, Charles Ives earns a career by selling insurance.
What artistic contributions did Charles Ives make?
A famous American composer known for his methodical musical experimentation was Charles Ives. He was the first to integrate components of both European art music and American popular music, as well as church music traditions, to create a distinctive style and to experiment with various musical techniques.
Just who is Charles Ives?
Ives, Charles American modernist composer Charles Edward Ives (/avz/; October 20, 1874 – May 19, 1954). Although his music was generally disregarded during his lifetime and many of his pieces went unperformed for many years, he is one of the first American composers of international reputation.
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Complete question:
how did Charles Ives make his living outside of music? multiple choice question.
working in insurance selling vacuum cleaners manufacturing records selling carsfollowing data:
Fixed overheads: £40,000
Selling price: £6
Variable cost per unit: £4
If the selling price is increased by 50% then the break-even level would
now be: *
(1 Point)
8,000 units
20.000 units
O 10,000 units
0 12500 units
Answers
Answer:
If the selling price is increased by 50% then the break-even level would now be 8,000 units.
Explanation:
The following are given in the question:
Fixed overheads = £40,000
Initial selling price = $6
Variable cost per unit = £4
Percentage increase in selling price = 50%
Therefore, we have:
New selling price = Initial selling price * (100% + Percentage increase in selling price) = £6 * (100% + 50%) = £9
New contribution margin per unit = New selling price - Variable cost per unit = £9 - £4 = £5
New break-even level = Fixed overheads / New contribution margin per unit = £40,000 / £5 = 8,000 units
Therefore, if the selling price is increased by 50% then the break-even level would now be 8,000 units.
yield to maturity and future price: a bond has a $1,000 par value , 10 years to maturity, and a 7% annual coupon and sells for $985. a.) what is its yield to maturity? b.) assume that the yield to maturity remains constant for the next 3 years. what will the price be 3 years from today?
Answers
a) Its yield to maturity is 7.215%. b) The price be three years from today is 988.46.
A) Solve for I using fv 1000 n 10 pmt 70 pv -985
= 7.215%
b) the value of PV over the next three years using the variables fv1000, n 7, and pmt70
=988.46
*price reflects the number of years that have passed, therefore n is 7 when three years have passed.
* more significant than before as you draw near
The return that is realized on a bond if it is held to maturity is known as yield to maturity. It is calculated by factoring in the bond's face value, its current price, the bond's yearly or semiannual coupon amount, and the number of years to maturity.
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How do you get cheap airline tickets?
Answers
Or
If you visit a site that to buy the tickets, turn on your incognito mode! Because prices go up if you visit that site more than once!!
Yw
An economy that using its resources to produce the maximum number of goods and services is described as? A. Efficient B.underutilized C.growing. D.trading off
Answers
Answer:
underutilized
Explanation:
fresh eggs moving from farms to a retailer and then on the final consumer , identify points in the supply chain where the eggs might used to be stored. Why is it essential to move eggs quickly down the supply chain?
Answers
Eggs are regarded as the ideal food. They are vitamin and protein-rich, easy to prepare, and affordable for even the retailer most frugal food buyers. To meet demand, it is supply chain that egg production would increase by 50% by 2030.
The advantages of keeping a high supply chain velocity are several. Not only can higher supply chain velocity boost customer happiness, but it can also shorten shipment times, lower shipping costs, improve inventory tracking, and streamline operations for more retailer efficiency. It's crucial to take immediate action and foresee when supplies are likely to run low in order to promptly place orders and maintain control over supply and resources.
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which will not directly be a determinant of the price elasticity of demand for labor?group of answer choicesthe price of laborthe substitutability of other resources for laborthe elasticity of demand for the product it producesthe total cost of labor as a proportion of the total cost of producing units of output
Answers
The total cost of labor as a proportion of the total cost of producing units of output will not directly be a determinant of the price elasticity of demand for labor.
The price elasticity of demand for labor refers to the responsiveness of the quantity of labor demanded to changes in its price. While the total cost of labor is an important factor in determining the overall cost of production, it is not directly related to the price elasticity of demand for labor. The determinants that directly impact the price elasticity of demand for labor include:
The price of labor: Higher wages may reduce the demand for labor as firms seek to minimize costs.
The substitutability of other resources for labor: If other resources can easily replace labor, the demand for labor becomes more elastic.
The elasticity of demand for the product it produces: If the demand for the final product is elastic, firms may be more sensitive to changes in labor costs and adjust labor demand accordingly.
While the total cost of labor is relevant for overall production costs, it does not directly affect the responsiveness of labor demand to changes in its price.
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The product is shown without a decimal point. Where should the decimal point be placed?
3.12 × 4 = 1248
5th grade work
Answers
Answer:
Answer:B Place the decimal point after 2
Explanation:
All you have to do is multiply 3.12 times 4
John has a rental application for a unit in his four-plex from a man in a wheel chair. The man wants to install a ramp by the back door and change a cabinet in the bathroom to allow the wheel chair to slide under. What are John’s choices as the unit owner?
Answers
Answer:
The modifications cannot be refused; the tenant can pay and should restore to original condition upon move out.
Explanation:
As it is mentioned that John has a rental application for a unit that means he is paying rent for that unit also he is unable to refuse it also if the renovation is done by the owner so the charges should be paid by tenant. For any modification, the tenant permission is important but the cost that are incurred is to be born by the tenant
In 2015, your company had revenue of $78,524. In 2014, revenue was $56,976. What is the growth rate of your company
Answers
Assuming in 2014, the revenue was $56,976. The growth rate of your company is 38%.
Growth rateUsing this formula
Growth rate=2015 Revenue-2014 revenue/2014 revenue
Let plug in the formula
Growth rate=$78,524-$56,976/$56,976
Growth rate=$21,548/$56,976
Growth rate=0.378×100
Growth rate=38%(Approximately)
Inconclusion the growth rate of your company is 38%.
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Which statement would be MOST important to include in a summary of the section "Karl Marx"? Marx theorized that capitalists would try to get more work from people for less pay. Marxism is more durable as a critique of capitalism than as a system for governing. Marx's idea about communism influenced the Russian Revolution in 1917. Marx thought that machines would make life dull and repetitive.
Answers
The most important claim about Karl Marx would be the theorizing that capitalists would try to get more work from people for less pay.
Who was Karl Marx?He was a German philosopher who developed the foundations of communism, a system that criticized capitalism and its doctrines. His most prominent theories are about the transition to communism, the class struggle, the Marxist theory of ideology and surplus value.
Therefore, the correct option for the question refers to surplus value, which was defined for Karl Marx as the difference between the value of the work produced by employees and their salary paid. For him, the surplus value is the work produced and not paid, being a condition of exploration of the capitalist system.
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In practice, a common way to value a share of stock when a company pays dividends is to value the dividends over the next five years or so, then find the "terminal" stock price using a benchmark PE ratio. Suppose a company just paid a dividend of $1.33. The dividends are expected to grow at 18 percent over the next five years. The company has a payout ratio of 40 percent and a benchmark PE of 21. The required return is 12 percent.
a. What is the target stock price in five years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b. What is the stock price today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answers
The target stock price in five years is $178.46 and the stock price today is $89.13.The target stock price in five years is $178.46.b. Stock price today.
Dividend paid= $1.33 Expected growth rate= 18% Payout ratio= 40% Benchmark PE= 21 Required return= 12%a. Target stock price in five years.
To calculate the target stock price in five years, we can use the formula for the dividend discount model:
Step1: V0 = (D1 / r - g)(1 + g),whereV0 = current stock price D1 = next year's dividend r = required return g = expected growth rate. Using the given values, we can calculate D1:D1 = 1.33 × (1 + 0.18) = $1.5744
Step 2:we can calculate the expected dividend growth rate after five years: Dividend in year 6 = 1.5744 × (1 + 0.18) = $1.86239 Dividend in year 7 = 1.86239 × (1 + 0.18) = $2.20143 Dividend in year 8 = 2.20143 × (1 + 0.18) = $2.59695 Dividend in year 9 = 2.59695 × (1 + 0.18) = $3.05564
Step 3:Dividend in year 10 = 3.05564 × (1 + 0.18) = $3.58524. The terminal stock price can be calculated using the formula: P10 = D11 / (r - g)where D11 = dividend in year 11 r = required return g = expected growth rate.
Step 4: P10 = 3.58524 / (0.12 - 0.18) = -$59.75 (This is a negative value, which is not possible.) To find a positive terminal stock price, we can adjust the expected growth rate until we get a positive result. We can start by assuming a lower expected growth rate of 15%: P10 = 3.58524 / (0.12 - 0.15) = $178.46. The target stock price in five years is $178.46.b. Stock price today.
Step 5:To calculate the stock price today, we need to discount the target stock price by the required return over the next five years:V0 = P5 / (1 + r)^5whereP5 = target stock price in five years r = required return. Substituting the given values, we get:P5 = $178.46r = 0.12V0 = 178.46 / (1 + 0.12)^5 = $89.13. The stock price today is $89.13.
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Select all that apply.
Information on a résumé includes each of the following:
date of birth
education
past employment
references
I should know this right now.. Btw, I NeEd aN aNsWeR NoW!!!!!!
Answers
Hope this helpssss
What is significance of evaluating PeCS of a successfull entrepreneur? What insights can you draw from this activity?
Answers
Answer:
It is very important to assess one's personal entrepreneurial competencies (PECs) in order to know the strengths and weaknesses of the entrepreneur. In that manner, the entrepreneur can design a plan to compensate for his weaknesses and develop his strength in order to deliver the excellency that was expected of him.
4
Drag the tiles to the correct boxes to complete the pairs.
Match the descriptions to their relevant accounting terminologies.
ledger
journal entry
trial balance
a temporary account
lists the closing balances of all ledger accounts
suspense
temporary account to adjust for accounting errors
a T-account with two sides (a debit and a credit side)
Reset
Next
Answers
Match the descriptions to their relevant accounting terminologies.
Ledger: a T-account with two sides (a debit and a credit side)journal entry: a record of financial transactions in order by dateTrial balance: lists the closing balances of all ledger accountsSuspense: temporary account to adjust for accounting errorsThe term journal entry was the first part of the Financial statement. The journal entry was the based on the debit and the credit record in the book entry. The Journal was the pro forma of the statement.
It was the journal entry, ledger, trial balance, and Suspense are the part of accounting.
Ledger: a T-account with two sides (a debit and a credit side)journal entry: a record of financial transactions in order by dateTrial balance: lists the closing balances of all ledger accountsSuspense: temporary account to adjust for accounting errorsAs a result, the significance of the relevant accounting terminologies are the aforementioned.
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Which of the following is a benefit of a bank?
A. You can get your cash quickly and easily.
B. A bank is insured by the federal deposit insurance corporation
C. You assets are safe from theft, loss, and fires
D. All the above
Answers
Answer:
D
Explanation:
Answer:
D. All the above
Explanation: