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The stock of Kakkonen, Ltd., a hot tuna distributor, currently lists for $50 a share, wher
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A、Are the two cases compared truly similar?
B、Are the similarities between the two cases relevant to the thesis?
C、Are there many similarities between the two cases?
D、Can the similarities between the two cases cover different aspects?
Divido Corporation is an all-equity financed firm with a total market value of $100 million. The company holds $10 million in cash-equivalents and has $90 million in other assets. There are 1,000,000 shares of Divido common stock outstanding, each with a market price of $100. What would be the impact on Divido’s stock price and on the wealth of its shareholders of the following financial decisions? Pay a cash dividend of $10 per share. Repurchases 100,000 shares. Pay a 10% stock dividend. Make a 2-for-1 stock split. Issue $20 million of bonds and to repurchase $20 million worth of its stock.
A film studio, Nadir Productions, has to decide whether to make a movie out of the book “Planetary Wars”, which it has acquired the rights to. The studio’s experts estimate that the production costs for the film will be $30 million and the subsequent cash flows net of distribution costs and taxes to be received a year later are expected to be $60 million with a probability of 50% and $10 million with a probability of 50%. The studio uses a discount rate of 18% in deciding whether to accept such projects. What is the NPV of the project? Should the project be accepted? At this point a new MBA on the CFO’s staff suggests that they have not taken account of the option to produce a sequel to the movie. If the movie succeeds at the box office, then surely they will want to make “Planetary Wars II” the following year. Draw a decision tree for the project. Assuming that the cost estimates and the distribution of future cash flows for the sequel are the same as for the original movie, how does taking account of the option to make a sequel affect the desirability of the project? Suppose that Nadir’s executives believe that a successful film of this genre can have as many as three sequels. What is the NPV of the project taking account of this?
A、
B、
C、
D、
On March 23, 2013, a 5-year US government bond with a face value of $1,000 that makes annual coupon payments at a coupon rate 8% was going to be issued. Now there are two two other trading US Treasure bonds. The first one is a 5-year bond with a face value of $1,000 and a coupon rate of 9%, issued that morning and being traded at a price of $1030, the second one is a 10-year bond with a face value of $1,000 and a coupon rate of 8%, issued on March 22, 2008 and being traded at a price of $980. Which one is can be used as comparable asset to evaluate the issued bond?
A、The first one
B、The second one
C、Both of the first and the second
D、None of the first and the second
A、0,0
B、0,1
C、1,0
D、1,1
A、3号存储单元存放的是数据,而8号存储单元存放的是指令
B、3号存储单元存放的是数据,而8号存储单元存放的是数据
C、3号存储单元存放的是指令,而8号存储单元存放的是数据
D、3号存储单元存放的是指令,而8号存储单元存放的是指令
A、P = (A AND B) AND (A OR B)
B、P = A XOR B
C、P = NOT (A AND B) AND (A AND B)
D、P = (A OR B) AND (A AND (NOT B))
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