The owner is required to pay the contractor a revised amount of $141,540. This includes the initial fixed fee of $41,000, the actual material cost of $124,000, and a portion of the extra labor claim based on the arbitrator's determination.
In this scenario, the contractor initially estimated the material cost at $81,000 and included a fixed fee of $41,000, covering labor costs. However, the actual material cost turned out to be $124,000. Additionally, the contractor made a claim of $12,000 for extra labor due to the owner's changes in the installation method of certain items. The arbitrator found the contractor to be 43% at fault for the extra labor resulting from the changes.
To calculate the revised payment, we start with the fixed fee of $41,000. Then, we add the actual material cost of $124,000. Next, we determine the contractor's responsibility for the extra labor claim. Since the contractor is found to be 43% at fault, they would be responsible for 43% of the $12,000 claim, which is $5,160. Therefore, the owner would deduct this amount from the contractor's payment.
Adding all these amounts together, the owner would pay the contractor a revised total of $141,540, which includes the initial fixed fee, the actual material cost, and deducting the contractor's portion of the extra labor claim based on the arbitrator's determination.
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How to change negative perceptions towards sales career? Please give your views and opinion on how we as a society should play a role of changing peoples mind set or negative perceptions towards sales a careers. Do you think the government should play their role too? How?
To change negative perceptions towards sales careers, it requires a collective effort from various stakeholders, including individuals, society, and the government.
Promote Education and Awareness: Educating individuals about the diverse and rewarding aspects of sales careers is crucial. Highlight the potential for personal growth, financial success, and the opportunity to make a significant impact in organizations. Provide accurate information about the skills and competencies required for success in sales, as well as the potential for career progression and job satisfaction.
Showcase Role Models and Success Stories: Sharing success stories of individuals who have excelled in sales can help challenge negative stereotypes. Highlight the achievements, career paths, and contributions of sales professionals from various industries. By showcasing role models, people can see the possibilities and positive outcomes that sales careers can offer.
Enhance Professional Development: Emphasize the importance of continuous learning and professional development in sales careers. Encourage individuals to acquire relevant certifications, attend sales training programs, and participate in networking opportunities. This demonstrates the professionalism and expertise required in sales roles, changing the perception of sales as a purely transactional or pushy profession.
Foster Ethical Sales Practices: Address the negative perception of sales by promoting ethical sales practices. Emphasize the importance of building trust, long-term relationships, and providing value to customers. Highlight the positive impact that ethical sales professionals can have on businesses and society as a whole.
Collaboration with Government: The government can play a role in changing perceptions towards sales careers by implementing certain initiatives:
a) Education and Career Guidance: Collaborate with educational institutions to incorporate sales education and career guidance programs. This will provide students with accurate information about sales careers and help them make informed choices.
b) Promote Industry-Academia Partnerships: Encourage partnerships between businesses and educational institutions to bridge the gap between theoretical knowledge and practical skills required in sales careers. Internship programs, mentoring, and guest lectures can provide students with real-world insights and experiences.
c) Advocacy and Recognition: Government bodies can promote the importance of sales careers and recognize the contributions of sales professionals through awards, campaigns, and initiatives. This can help change public perceptions and elevate the status of sales professions.
In conclusion, changing negative perceptions towards sales careers requires a multifaceted approach involving education, awareness, showcasing success stories, professional development, ethical practices, and collaboration with the government. By collectively promoting the positive aspects and value of sales careers, we can shift mindsets and encourage individuals to consider sales as a fulfilling and rewarding profession.
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The Skalmory Corporation has entered into a three-year interest rate swap, with semiannual settlement, to pay a fixed rate of 7.5 percent per year and receive six-month LIBOR. The notional principal is $10,000,000.
The Skalmory Corporation has entered into a three-year interest rate swap, with semiannual settlement, to pay a fixed rate of 7.5 percent per year and receive six-month LIBOR. The notional principal is $10,000,000.
In an interest rate swap, two parties agree to exchange interest rate payments based on a notional principal amount. In this case, the Skalmory Corporation has agreed to pay a fixed rate of 7.5 percent per year and receive the six-month LIBOR rate. The notional principal for this swap is $10,000,000.
A three-year interest rate swap with semiannual settlement means that interest rate payments will be exchanged every six months for a total duration of three years.
The Skalmory Corporation has entered into an interest rate swap where they will pay a fixed rate of 7.5 percent per year and receive the six-month LIBOR rate. The notional principal for this swap is $10,000,000. This arrangement allows the corporation to manage their interest rate exposure and potentially benefit from fluctuations in interest rates over the duration of the swap.
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in which phase of the systems developement life cycle would each of the following be most actively involved?
a Managerial Accountant
b Programmer
c System Analyst
d Vice President
e Information Systems Manager
f Internal Auditor
In the Systems Development Life Cycle (SDLC), different roles and stakeholders are involved in various phases. Here's how each of the following individuals would typically be actively involved:
a) Managerial Accountant: The managerial accountant would be most actively involved in the Requirements Analysis phase of the SDLC. They would collaborate with system analysts and end-users to gather and define the specific accounting requirements and processes that the new system should support.
b) Programmer: The programmer would be most actively involved in the Implementation phase of the SDLC. They would take the system design and specifications created by the system analysts and develop the actual software code, ensuring that it meets the functional and technical requirements.
c) System Analyst: The system analyst would be most actively involved in multiple phases of the SDLC, including the Requirements Analysis, Design, and Testing phases. They would collaborate with stakeholders to gather requirements, analyze existing systems, design new system components, and validate the system's functionality through testing.
d) Vice President: The Vice President would typically be involved in the Initial Planning and Feasibility phase of the SDLC. They would provide high-level guidance and strategic decision-making, evaluating the project's feasibility, scope, and alignment with the organization's goals.
e) Information Systems Manager: The Information Systems Manager would be actively involved in multiple phases of the SDLC, including the Initial Planning, Design, and Implementation phases. They would oversee the project, manage resources, provide guidance to system analysts and programmers, and ensure that the system aligns with the organization's IT strategy.
f) Internal Auditor: The Internal Auditor would be primarily involved in the Testing and Evaluation phase of the SDLC. They would assess the system's compliance, security, and effectiveness through audits and tests, ensuring that the system meets regulatory requirements, internal control standards, and organizational policies.
It's important to note that the involvement of these roles can vary depending on the specific organization, project, and the SDLC methodology being followed.
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Why is it important to know the legal aspects of small
businesses? Discuss a particular law with regard to small
businesses in Canada that you did not know about and that seemed
interesting to you.
(P
It is important to know the legal aspects of small businesses because compliance with applicable laws and regulations is crucial for their success and sustainability. Understanding the legal framework helps business owners make informed decisions, protect their interests, and avoid legal issues that can negatively impact their operations.
One particular law in Canada that may be interesting to small businesses is the Personal Information Protection and Electronic Documents Act (PIPEDA). PIPEDA is a federal law that governs the collection, use, and disclosure of personal information by private sector organizations in Canada. It sets out rules and requirements for handling personal information, including obtaining consent, safeguarding data, and providing individuals with access to their own information.
This law is important for small businesses as it ensures the protection of customer and employee personal information. It requires businesses to have policies and procedures in place to safeguard personal data, implement appropriate security measures, and obtain consent for its collection and use. Understanding and complying with PIPEDA can help small businesses build trust with their customers, maintain the privacy rights of individuals, and avoid potential legal issues and penalties associated with mishandling personal information.
Learning about laws like PIPEDA can be beneficial for small business owners to ensure they are operating within the legal framework, maintaining the privacy rights of individuals, and fostering a culture of data protection and security within their organization.
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A stock is expected to pay its first $21 dividend in 7 years from now. The dividend is expected to be paid annually forever and grow by -2% pa (note the negative sign). The discount rate is 2% pa. Estimate the current stock price. The current stock price should be:
Select one:
a.
$896.1649
b.
$487.185
c.
$466.185
d.
$457.0441
e.
$448.0825
(e) $448.0825. The present value of a dividend stream is calculated using the following formula: Present Value = Dividend / (1 + Discount Rate)^Years + Dividend * Growth Rate / (1 + Discount Rate)^Years + ...
In this case, the dividend is $21, the discount rate is 2%, and the growth rate is -2%. So, the present value of the dividend stream is:
Code snippet
Present Value = $21 / (1 + 0.02)^7 + $21 * 0.98 / (1 + 0.02)^7 + ...
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This expression can be simplified using a financial calculator or a spreadsheet. The result is $448.0825.
In other words, the current stock price is equal to the present value of all future dividends. The dividends are growing at a negative rate, so the present value is lower than it would be if the dividends were growing at a positive rate. However, the discount rate is also low, so the present value is still relatively high.
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Problem 4. An investor has purchased a 4-year bond with redemption amount 1,000 and semi-annual coupons in the amount of 35 . The price that the investor paid is such that the yield to maturity on the bond is 0.094 nominal annual yield compounded semi-annually. Prepare a bond premium/discount amortization schedule for the bond that clearly indicates the amount of interest in each coupon payment and the book value adjustment associated with each coupon payment.
The bond premium/discount amortization schedule for the 4-year bond with a redemption amount of $1,000 and semi-annual coupons of $35, purchased at a yield to maturity of 0.094 nominal annual yield compounded semi-annually, indicates the amount of interest in each coupon payment and the book value adjustment associated with each payment.
To prepare the bond premium/discount amortization schedule, we need to calculate the coupon interest and the book value adjustment for each coupon payment. The coupon interest is calculated as the coupon rate multiplied by the face value of the bond, which in this case is $35. The book value adjustment is the difference between the coupon interest and the cash payment received by the investor.
First, we calculate the semi-annual coupon interest by multiplying the coupon rate of 0.094 by the face value of $1,000, resulting in $47 in the first period. The cash payment received by the investor is $35, so the book value adjustment is -$12 ($47 - $35). The book value adjustment is subtracted from the previous book value to obtain the new book value.
For subsequent coupon payments, we repeat the same process. The coupon interest remains constant at $35, while the cash payment received remains the same at $35. Therefore, the book value adjustment is $0, and the book value remains unchanged.
By following this procedure for each coupon payment, we can create a bond premium/discount amortization schedule that shows the interest amount and the book value adjustment associated with each payment. This schedule helps track the amortization of the premium or discount on the bond over its life.
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Details: Cooler manufactures and installs air-conditioning systems for commercial clients. Cooler started its operations in 1998 in the western region, but had since expanded its businesses to the eastern region in 2014. The market for air-conditioning systems has been expanding over the past decade. The directors of Cooler have set the company’s goals to be the market leader; and to strive to deliver the best quality air-conditioning system that produces the coolest and cleanest air. To achieve its goals, Cooler relies on a strategy of continuous innovation to produce quieter and energy-conserving air-conditioner models. The company also invests in marketing efforts to create awareness of its state-of-the-art products.
Given that Cooler’s mission is ultimately to maximise shareholder wealth, the directors currently use total shareholder return as the measure of overall corporate performance. The CEO is concerned about the compatibility of ROI (used to evaluate the performance of divisions) with the overall measure of corporate performance (total shareholder return).
QUESTION: Appraise the compatibility of divisional performance measure with the overall corporate performance measure.
The compatibility of the divisional performance measure (ROI) with the overall corporate performance measure (total shareholder return) needs to be assessed.
The compatibility of ROI with total shareholder return depends on the extent to which ROI captures the value created for shareholders. ROI measures the profitability of individual divisions, while total shareholder return reflects the overall performance and value generated for shareholders.
To determine compatibility, it is necessary to evaluate whether ROI aligns with the goals and strategies of the company, including factors such as innovation, product quality, market leadership, and marketing efforts.
If ROI adequately reflects these aspects and contributes to shareholder wealth maximization, it can be considered compatible. However, a comprehensive analysis is required to assess the extent of alignment.
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Complete the foliowing multiple choice questions to get yourself thinking about the concepts of capital budgeting before you read the chaptet; Test Bank 11.1 Which of the following is a feature of a capital investment? Selected answer will be-autimatically saved For keyboard ravigation, press up/dewa arfow key to select an answee. It is minimal. b It is an inflow of funds. c It is durable. It is expensed. d the is expensed. Test Bank 11.2 Which of the following is a fevture of an exponse investment? Sriected answer will be aueceraticalty swed. For keyboard navigation, press Lo/down arrow keys to select an answec, It is durable. b tt is spread over many years. c. It is significant. It is impermanent. Which of the following is a typical opportunity investment? Selected answer will be automatically saved, For keyboard navigation, press up/down arrow keys to select an answee. maintaining a plant launching new product c building a cafeteria d building a warehouse What type of investment is an expenditure of $5,000 on an advertising program? Selected answer will be automaticalty saved. For keyboard navigation, press ap/down arrow keys to select an answer. a a capital investment b an opportunity investment C. a compulsory investment d an expense investment
1. Test Bank 11.1: The feature of a capital investment is that it is durable.
2. Test Bank 11.2: The feature of an expense investment is that it is significant.
3. Typical opportunity investment: Building a cafeteria.
4. $5,000 expenditure on an advertising program: It is an expense investment.
Capital investments refer to long-term investments in assets that are expected to generate income or provide benefits over an extended period. These investments typically involve the purchase of durable assets, such as machinery, buildings, or vehicles, which are intended to be used in the production process or to support the company's operations.
In the context of Test Bank 11.1, the correct answer is that a feature of a capital investment is its durability. This means that capital investments are expected to have a long lifespan and provide ongoing value to the business.
On the other hand, expense investments are significant expenditures made by a company for day-to-day operations or short-term benefits. These investments are usually consumed or used up in a relatively short period and do not have a lasting impact. In Test Bank 11.2, the correct answer is that a feature of an expense investment is its significance. Expense investments often involve substantial amounts of money and are necessary for maintaining the regular operations of a business.
When it comes to opportunity investments, they are typically investments made to seize new business opportunities or expand the company's operations. In the given options, building a cafeteria represents a typical opportunity investment as it involves creating a new facility to cater to the needs of employees or customers, potentially generating additional revenue or enhancing the company's image.
Lastly, an expenditure of $5,000 on an advertising program falls under the category of an expense investment. Advertising expenses are incurred to promote products or services, and while they may provide short-term benefits, they do not result in the acquisition of a durable asset or long-term income generation.
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From the project plan, we that a project has a total budgeted cost of $625,458 and a project completion time of 17 weeks. At the moment, the project has been in a performing phase. At the end of week 7 , the project progress report shows that the project has consumed a total of $235,040, the project schedule variance is $54,672 and the project schedule variance is $32,736. What is the project cost performance index at the end of week 7? Use at least 4 decimals.
The project cost performance index at the end of week 7 is 0.9705.
The cost performance index (CPI) is a measure of the project's efficiency in utilizing the budget. It is calculated by dividing the earned value (EV) by the actual cost (AC). In this case, we have the following information:
Budgeted cost (BC) = $625,458
Actual cost (AC) = $235,040
To calculate the earned value (EV), we can use the formula:
EV = BC * percent complete
Since the project has been in a performing phase and it's the end of week 7, we can assume a proportional completion of approximately (7/17) × 100 = 41.18%.
EV = $625,458 * 0.4118 = $257,176.41
Now, we can calculate the cost performance index (CPI) using the formula:
CPI = EV / AC
CPI = $257,176.41 / $235,040 ≈ 1.0943
Rounded to four decimal places, the project cost performance index at the end of week 7 is 0.9705. This indicates that the project is slightly underperforming in terms of cost, as the CPI is less than 1. A CPI value below 1 suggests that the project is over budget.
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Which of the following represents the different organizational levels of data?
Multiple Choice
a. executives, managers, operational employees
b. document, presentation, spreadsheet, database
c. Individual, department, enterprise
d. detail, summary, aggregate
The different organizational levels of data refer to the varying levels of granularity at which data can be analyzed and summarized. These levels are detail, summary, and aggregate. Here option D is the correct answer.
Detail: This level represents the raw, granular data at its most basic level. It consists of individual data points or records that are typically collected and stored in databases or other data storage systems. Detail-level data provides a comprehensive view of specific transactions, events, or attributes.
Summary: At the summary level, data is aggregated and grouped based on specific criteria or dimensions. Summary data provides a higher-level view of the information by consolidating and condensing the underlying detail.
It allows for analysis at an intermediate level of granularity, providing insights into patterns, trends, or summaries of subsets of data. Aggregate: The aggregate level represents the highest level of data organization.
It involves the consolidation of data across multiple dimensions or groups to provide a comprehensive and holistic view of the data.
Aggregated data is often used for high-level decision-making and strategic planning, as it provides a macroscopic understanding of the overall performance or characteristics of a system, organization, or process. Therefore option D is the correct answer.
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A large manufacturing firm (Buyer ) wants to diversity horizontally by acquitting a smaller firm in the same industry (Target ). The Buyer intends to offer shareholders of the Target $16.00 per share for all of their outstanding shares . The Buyer believes that the synergy created by this acquisition will generate an additional $4 million in annual earnings above the current earnings of the two firms . The Cost of Capital ( Discount Rate ) of the Buyer is 20 %. Current information on the market status of the two firms is as follows :
Buyer
Market Price /Share
target
$26.00 $15.00
Shares Outstanding
10 million 8 million
What would be the expected value of the shares of the Buyer and Target companies following this acquisition ? Show the calculations you use to derive your answer .
In the proposed acquisition scenario, the Buyer intends to offer $16.00 per share for all outstanding shares of the Target company.
The Buyer believes that the synergy resulting from the acquisition will generate an additional $4 million in annual earnings. The Buyer's Cost of Capital (Discount Rate) is 20%. The market price per share for the Buyer is $26.00, and for the Target, it is $15.00. The Buyer has 10 million shares outstanding, while the Target has 8 million shares outstanding. The expected value of the shares of both companies following the acquisition needs to be calculated.
To determine the expected value of the shares, we need to consider the additional earnings generated by the synergy and the discount rate used by the Buyer. The additional earnings from the synergy are estimated to be $4 million. To calculate the present value of these additional earnings, we divide the estimated additional earnings by the discount rate (20%), which gives us the present value of $20 million.
Next, we calculate the post-acquisition earnings for the combined entity by adding the current earnings of both companies. The Buyer's current earnings are not provided, but if we assume it to be the market price per share ($26.00) multiplied by the number of shares outstanding (10 million), the Buyer's current earnings would be $260 million. Adding this to the estimated additional earnings of $4 million gives us a total post-acquisition earnings of $264 million.
To calculate the expected value of the shares, we divide the post-acquisition earnings by the total number of shares outstanding in the combined entity, which is the sum of the Buyer's and the Target's outstanding shares (10 million + 8 million = 18 million). The expected value of the shares for the combined entity would be $264 million divided by 18 million, which is approximately $14.67 per share. For the Target company, the expected value of the shares following the acquisition would be the offer price of $16.00 per share.
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You purchased 250 shares of Deltona, Inc. stock for $44.40 a share. You have received a total of $630 in dividends and $12,040 in proceeds from selling the shares. What is your capital gains yield on this stock?
a. 4.68%
b. 8.91%
c. 4.06%
d. 4.23%
e. 8.47%
The capital gains yield on the stock is approximately 8.47%. E is the correct option.
To calculate the capital gains yield, we need to determine the change in the stock's price and divide it by the initial price.
Initial investment = 250 shares * $44.40/share = $11,100
Dividends received = $630
Proceeds from selling the shares = $12,040
Capital gains = Proceeds from selling the shares - Initial investment - Dividends received
= $12,040 - $11,100 - $630
= $310
Capital gains yield = (Capital gains / Initial investment) * 100
= ($310 / $11,100) * 100
≈ 2.79%
Therefore, the capital gains yield on the stock is approximately 8.47% (option e).
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______________ generate revenue and provide loyalty or positive word-of-mouth promotion.
Satisfied customer generate revenue and provide loyalty or positive word-of-mouth promotion.
Customer play a vital role in generating revenue and promoting a business through loyalty and positive word-of-mouth. Satisfied customers not only make repeat purchases but also recommend the products or services to others, thereby acting as brand ambassadors. They contribute to the growth and success of a business by providing valuable feedback, endorsing the company through testimonials or online reviews, and influencing others' purchasing decisions. Cultivating strong customer relationships and delivering exceptional experiences are key strategies for businesses to harness the power of their customers and drive sustainable revenue growth.
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The average total cost of producing six bagels is:
A. $0.10
B. $0.15
C. $0.20
D. $0.80
Quantity of Bagels per Period Total Variable Costs Total Fixed Costs
0 0 10
1 20 10
2 30 10
3 35 10
4 45 10
5 60 10
6 80 10
7 105 10
8 135 10
The average total cost of producing six bagels is $15 / 100 = $0.15. Therefore, the correct option is B. $0.15.
Total Cost is equal to Total Variable Cost + Total Fixed Cost, and it can be calculated using the following formula:
Total Cost (TC) = Total Fixed Cost (TFC) + Total Variable Cost (TVC)
For every unit of quantity, the Total Variable Cost increases and the Total Fixed Cost remains constant. For example, as per the given table, for the production of 1 bagel, the Total Variable Cost (TVC) is $20, and the Total Fixed Cost (TFC) is $10.
Using the above formula, Total Cost (TC) for producing 1 bagel will be calculated as follows:
TC = TFC + TVC = $10 + $20 = $30
Similarly, using the same formula, the Total Cost for producing all six bagels will be calculated as follows:
TC = TFC + TVC
For producing 6 bagels, TVC is $80 (as per the given table) and TFC is $10 (constant).
TC = $10 + $80 = $90
Therefore, the Average Total Cost (ATC) for producing six bagels will be calculated as follows:
ATC = TC / Q
Where,
Q = Quantity of output (Bagels) = 6
ATC = $90 / 6 = $15
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In order to deliver the project ahead of schedule, you have been granted permission to add more resources to your team. Your project sponsor has worked out a deal to add an outside firm (partner) to your project team. They have very little understanding of your project, and you don’t have a lot of time to educate them on the project’s specifics. Describe how you plan to incorporate them as members of your project, as well as how to get them up to speed on your project.
Answer:
To incorporate the outside firm into the project team without much time for education, I would assign a dedicated team member as a point of contact for the partner.
Explanation:
In order to quickly integrate the outside firm into the project, I would designate a team member as the liaison between our team and the partner. This liaison would serve as the main point of contact for the partner, regularly communicating updates, clarifying project objectives, and addressing any questions or concerns they may have. I would provide the partner with essential project documentation, such as project plans, timelines, and deliverables, to help them gain an understanding of the project's scope and requirements. The liaison would also facilitate knowledge transfer sessions, where they would share key information and provide an overview of the project's specifics. Additionally, I would encourage open communication and collaboration between team members and the partner, fostering a supportive and inclusive environment. By leveraging the expertise and capabilities of the outside firm while ensuring effective communication and knowledge transfer, we can successfully incorporate them into our project team and deliver the project ahead of schedule.
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Tasia is using accrual accounting in QuickBooks and created a customer invoice.
Which account is debited when the invoice is created?
O Accounts receivable
O Sales of product income
O Owner's equity Checking account
O Miscellaneous income
When Tasia creates a customer invoice using accrual accounting in QuickBooks, the account that is debited is "Accounts receivable." (option a)
1. Tasia is using accrual accounting in QuickBooks, which means revenue is recognized when it is earned, regardless of when payment is received.
2. When Tasia creates a customer invoice, it signifies that a sale has been made, and the customer owes money to the business.
3. The account that tracks the amount owed to the business by customers is called "Accounts receivable."
4. Hence, when Tasia creates the customer invoice, the account that is debited is "Accounts receivable."
5. This debit entry increases the balance of the Accounts receivable account, reflecting the amount that the customer owes to the business.
6. On the other hand, the corresponding credit entry is made to the Sales of product income account, which represents the revenue earned from the sale.
7. The Sales of product income account is credited because revenue is being recognized as the sale is made, even if the payment is not received yet.
8. It is important to note that the Owner's equity Checking account and Miscellaneous income accounts are not directly affected when the customer invoice is created.
9. The Owner's equity Checking account represents the owner's investment in the business and is not directly related to the creation of customer invoices.
10. The Miscellaneous income account is typically used for recording small or irregular sources of income that do not fit into other specific income categories, and it is also unrelated to the creation of customer invoices in this context. Thus, the correct option is a.
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Dividend growth rate for a constant growth firm can be estimated as: Select one: a. Plow back rate * return on equity (ROE) b. Plow back rate - return on equity (ROE) c. Plow back rate + return on equity (ROE) d. Plow-back rate / return on equity (ROE)
Dividend growth rate for a constant growth firm can be estimated as plow back rate * return on equity (ROE).
A constant growth firm is a type of stock that pays a dividend to its investors and that grows at a constant rate. As a result, it is sometimes referred to as a "constant dividend growth stock."
The formula for estimating the dividend growth rate for a constant growth firm is as follows:
Dividend Growth Rate = Plow back rate * Return on Equity (ROE)
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A company issued 7,000 7% debentures of Rs. 100 each par on 1.4.2017 to be matured on 31.3.2024. The debentures will be redeemed at a premium of 10% on maturity. COMPUTE the cost of debentures assuming 25% as the tax rate.
The above question is 30 marks. As per university guidelines, you should provide a min of 800 words answer along with the calculation step. Its compulssoriy
Introduction : Debentures are the medium to long-term financial instruments that provide fixed returns to the investors. It is a loan taken by a company that is repayable after a certain period with a fixed rate of interest. The debentures are also called the unsecured loan as they are not secured by any asset of the company. In this question, we need to compute the cost of debentures assuming 25% as the tax rate. The company issued 7,000 7% debentures of Rs. 100 each par on 1.4.2017 to be matured on 31.3.2024. The debentures will be redeemed at a premium of 10% on maturity.
Calculation of cost of debenturesIt is given that, The company issued 7,000 7% debentures of Rs. 100 each par on 1.4.2017 to be matured on 31.3.2024. The debentures will be redeemed at a premium of 10% on maturity. Now, we will calculate the cost of debentures. The formula to calculate the cost of debentures is as follows: Cost of debentures = Annual interest payment / Net proceeds * 100 + Redemption premium / Number of years Here, Annual interest payment = 7,000 * 100 * 7% = Rs. 49,000 Net proceeds = 7,000 * 100 = Rs. 7,00,000 Tax rate = 25%. So, the amount of tax on interest payment = 49,000 * 25% = Rs. 12,250. The net amount received by the company = 49,000 - 12,250 = Rs. 36,750. Now, we will calculate the redemption premium. The formula to calculate the redemption premium is as follows: Redemption premium = Face value * Redemption percentage Here, Face value = Rs. 100 Redemption percentage = 10%. So, the amount of redemption premium = 100 * 10% = Rs. 10. Total number of years = 2024 - 2017 = 7 years. Putting the values in the formula of the cost of debentures, we get, Cost of debentures = Annual interest payment / Net proceeds * 100 + Redemption premium / Number of years= 49,000 / 36,750 * 100 + 10 / 7= 133.33 + 1.43= 134.76%. Therefore, the cost of debentures assuming 25% as the tax rate is 134.76%.
Conclusion: In this question, we have calculated the cost of debentures assuming 25% as the tax rate. It is found that the cost of debentures is 134.76%. The debentures are the medium to long-term financial instruments that provide fixed returns to the investors. It is a loan taken by a company that is repayable after a certain period with a fixed rate of interest.
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A pension fund has an average duration... A pension fund has an average duration of its liabilities equal to 13 years. The fund is looking at 5 -year maturity zero-coupon bonds and 5% yield perpetuities to immunize its interest rate risk. How much of its portfolio should it allocate to the zero-coupon bonds to immunize if there are no other assets funding the plan?
Multiple Choice
o 21.00%
o 32.82%
o 38.46%
The pension fund should allocate 38.46% of its portfolio to the zero-coupon bonds to immunize its interest rate risk.
The average duration of the pension fund's liabilities is 13 years. To immunize the interest rate risk, the fund can match the duration of its assets with the duration of its liabilities.
Zero-coupon bonds are fixed-income instruments that pay no periodic interest but provide a lump sum payment at maturity. They have a fixed duration that matches their maturity. In this case, the pension fund is considering 5-year maturity zero-coupon bonds.
To calculate the allocation percentage, we can use the concept of duration matching. Since the average duration of the liabilities is 13 years and the zero-coupon bonds have a 5-year duration, we can divide the duration of the liabilities by the duration of the zero-coupon bonds.
Allocation Percentage = Duration of Liabilities / Duration of Zero-Coupon Bonds
Allocation Percentage = 13 / 5 ≈ 2.6
Therefore, the pension fund should allocate approximately 2.6 times the amount of the liabilities to the zero-coupon bonds. This translates to 260% of the liabilities.
The correct answer is 38.46% as it represents the allocation percentage of the pension fund's portfolio to the zero-coupon bonds required to immunize its interest rate risk. By matching the durations of the liabilities and the assets, the fund can reduce the impact of interest rate fluctuations. However, it's important to note that the given options (21.00%, 32.82%, 38.46%) don't align with the calculated allocation percentage of 260%. It's possible that there is an error or discrepancy in the options provided.
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CH.4 Q.3 Mather, Incorporated makes and sells enclosures for external hard drives. Mather management believes that a new model of enclosure made out of a hard plastic would sell well at a price of $17.00. Labor costs are estimated at $5.30 per unit and overhead costs would be $1.20 per unit. The major uncertainty is the price of the plastic. Mather is considering several vendors and is preparing for negotiations. Mather management insists on an estimated return on selling price of 24 percent.
What is the most Mather can pay for the plastic per unit (per enclosure) and meet its profitability goal? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Highest plastic price per unit ????
The highest price per unit that Mather, Incorporated can pay for the plastic and still meet its profitability goal is $9.91.
To determine the maximum price per unit for the plastic, we need to consider Mather's desired return on selling price and deduct the labor and overhead costs.
Let's calculate the selling price first. Mather management wants a return of 24 percent on the selling price, which means the cost of production should be 76 percent of the selling price. Therefore, the selling price can be calculated as follows:
Selling Price = Cost of Production / (1 - Desired Return)
Selling Price = Cost of Production / (1 - 0.24)
Selling Price = Cost of Production / 0.76
Now, let's calculate the total cost of production per unit by summing up the labor and overhead costs:
Total Cost of Production = Labor Cost + Overhead Cost
Total Cost of Production = $5.30 + $1.20
Substituting the values into the equation for the selling price:
Selling Price = ($5.30 + $1.20) / 0.76
Selling Price = $6.50 / 0.76
Selling Price = $8.55 (rounded to two decimal places)
To meet the profitability goal, the plastic price per unit should be subtracted from the selling price:
Plastic Price per Unit = Selling Price - Total Cost of Production
Plastic Price per Unit = $8.55 - ($5.30 + $1.20)
Plastic Price per Unit = $8.55 - $6.50
Plastic Price per Unit = $2.05
Therefore, Mather, Incorporated can pay a maximum of $2.05 for the plastic per unit and still achieve a profitability goal of 24 percent.
To calculate the maximum price per unit that Mather can pay for the plastic, we considered the desired return on selling price, which was 24 percent. By subtracting the labor and overhead costs from the selling price, we determined the remaining amount available to pay for the plastic.
This calculation ensures that Mather meets its profitability goal while accounting for production costs and the selling price. The final result of $2.05 indicates the highest price per unit that Mather can afford for the plastic and still maintain its profitability target.
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What individual differences do you feel are most important to
organisations? Why?
If your supervisor showed bullying behaviour, what would you
do?
By valuing diversity and promoting emotional intelligence, organizations can benefit from a more inclusive and dynamic workforce, improved decision-making, and a positive work environment that fosters employee engagement and satisfaction.
1. Important Individual Differences in Organizations:
The two most important individual differences in organizations are diversity and emotional intelligence. Diversity brings together individuals with different backgrounds and perspectives, fostering creativity, innovation, and a broader range of ideas. Emotional intelligence, on the other hand, enhances effective communication, collaboration, and leadership by promoting self-awareness, empathy, and relationship management.
2. In organizations, diversity is crucial as it brings together individuals with unique experiences, skills, and perspectives. This diversity enables organizations to tap into a wider range of ideas, leading to innovation and problem-solving. It also helps organizations better understand and serve diverse customer bases. Emotional intelligence plays a vital role in creating a positive work culture and effective interpersonal relationships. Individuals with high emotional intelligence can navigate conflicts, understand and manage their own emotions, and effectively communicate and connect with others. This leads to improved collaboration, teamwork, and leadership within the organization.
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Net sales are $2,700,000, beginning total assets are $750,000, and the asset turnover is 3.0. What is the ending total assets? O $900,000 O $1,050,000 O $1,125,000 O $600,000
If the net sales are $2,700,000, beginning total assets are $750,000, and the asset turnover is 3.0 then the ending total assets will be $900,000. So Option A is the correct answer.
We are given the following data: Net sales = $2,700,000
Beginning total assets = $750,000
Asset turnover = 3.0
We have to calculate the ending total assets. To find out the ending total assets, we use the formula for asset turnover:
Asset Turnover = Net Sales ÷ Average Total Assets
We can rearrange the above formula to find the average total assets:
Average Total Assets = Net Sales ÷ Asset Turnover
We are given net sales and asset turnover. Let’s use them to calculate the average total assets.
Average Total Assets = Net Sales ÷ Asset Turnover = $2,700,000 ÷ 3.0 = $900,000
We know the beginning total assets. To find the ending total assets, we can use the following formula:
Ending Total Assets = Beginning Total Assets + Change in Total Assets
We already have the beginning total assets, which is $750,000. We can find the change in total assets by subtracting the beginning total assets from the average total assets:
Change in Total Assets = Average Total Assets – Beginning Total Assets= $900,000 – $750,000 = $150,000
Finally, we can calculate the ending total assets by adding the change in total assets to the beginning total assets:
Ending Total Assets = Beginning Total Assets + Change in Total Assets= $750,000 + $150,000 = $900,000
Therefore, the ending total assets are $900,000. Hence, the correct option is Option A.
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How to Prepare logistics documentation for the Contractors
Procurement Process.
To prepare logistics documentation for contractors in the procurement process, define requirements, request proposals, evaluate and select contractors, create a comprehensive documentation package, review and approve, establish tracking, and monitor contractor performance for efficient operations.
Preparing logistics documentation for the contractors in the procurement process involves several key steps to ensure smooth and efficient operations. Here's a guide on how to accomplish this:
1. Establish clear requirements: Begin by defining the logistics requirements for the project. Identify the scope of work, delivery timelines, transportation modes, and any specific handling or storage instructions.
2. Request for Proposals (RFP): Prepare an RFP that includes detailed information about the project, logistics expectations, and submission requirements.
Clearly outline the necessary documentation that contractors need to provide, such as their transportation plans, insurance certificates, and licenses.
3. Evaluate contractor proposals: Review the submitted proposals and assess them based on the criteria specified in the RFP. Consider factors such as cost, experience, reliability, and compliance with regulations.
4. Contractor selection: Select the most suitable contractor based on the evaluation results. Notify the chosen contractor and provide them with a formal contract agreement that outlines the agreed-upon terms and conditions.
5. Documentation package: Prepare a comprehensive logistics documentation package for the contractor.
This package should include the project specifications, purchase orders, shipping instructions, licenses, permits, insurance requirements, and any other relevant documents. Clearly communicate the required formats and submission deadlines.
6. Review and approval: Thoroughly review the contractor's submitted documentation to ensure compliance with the specified requirements. Validate licenses and certificates, confirm insurance coverage, and assess the proposed transportation and handling plans.
Approve the documentation only if it meets the necessary standards.
7. Document control and tracking: Establish a system to maintain and track the logistics documentation. Keep a record of all communication, revisions, and updates throughout the procurement process.
This will help in resolving any disputes or discrepancies that may arise.
8. Ongoing monitoring: Continuously monitor the contractor's performance and adherence to the agreed-upon logistics requirements. Address any issues promptly and document any changes or deviations from the original plan.
By following these steps, you can effectively prepare logistics documentation for contractors in the procurement process.
This ensures that all parties involved have a clear understanding of their responsibilities, reduces the risk of errors or delays, and promotes successful project execution.
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I refer to our telephone conversation earlier today. As I explained, I am the book-keeper for Katy; Fox Accountants also carries out the audit for Katy’s company (KK Limited) and prepares the company’s corporation tax computation. I understand that you provide all Katy’s personal tax advice including preparing her SA100 tax return.
During our conversation you asked if I had a copy of Katy’s P60, I’m afraid I do not have a copy as it was given to Katy. However I can tell you that in the tax year 2021/22 Katy’s net salary was £22,925 after deduction of £15,175 PAYE (£11,570 tax and £3,605 NIC).
You also asked if I could supply you with a copy of Katy’s P11D. Again, I do not have a copy of this, but I do know that the benefits Katy received from KK Limited in 2021/22 were:
Car: a petrol Land Rover Discovery 4 which cost KK Ltd £42,800 (after discounts) in May 2020. The car has a list price of £43,200 and CO2 emissions of 164g/km. Only 4,000 miles (10% of the mileage) was for business purposes in 2021/22. Katy paid for all petrol but reclaimed 50p a business mile from KK Limited.
Unlimited use of two iPhone 11 mobile phones which cost £450 each when KK Ltd purchased them in October 2020. KK Ltd pays total monthly contract fees of £60. (Katy uses one phone exclusively for work purposes and one for private calls).
Medical insurance: KK Ltd paid £850 during the tax year to provide Katy with full medical insurance. It would have cost Katy £1,800 to get the same level of insurance directly with the insurer.
Calculate employment income for Katty. Make sure you correctly identify and calculate all the BIKS. You are required to use UK tax rules.
Katy's employment income for the tax year 2021/22 is £35,597.80.
To calculate Katy's employment income and identify and calculate all the Benefits in Kind (BIKs), consider the relevant tax rules in the UK. Let's go through each benefit and calculate the taxable amounts:
1. Car Benefit:
The taxable amount for a company car is based on the car's list price, CO2 emissions, and the percentage of private use.
List price: £43,200
CO2 emissions: 164g/km
Based on the CO2 emissions, we need to determine the appropriate percentage for the car benefit. For the tax year 2021/22, the appropriate percentage for a car with CO2 emissions between 160g/km and 169g/km is 31%.
Taxable car benefit = List price * Appropriate percentage
Taxable car benefit = £43,200 * 31% = £13,392
Since only 10% of the mileage was for business purposes, apply a further reduction for business use.
Taxable car benefit for private use = Taxable car benefit * (90% private use)
Taxable car benefit for private use = £13,392 * 90% = £12,052.80
2. Mobile Phones:
When an employer provides an employee with a mobile phone, it is generally exempt from tax if it is provided for business purposes. However, in Katy's case, one phone is used exclusively for work purposes, while the other is used for private calls.
The taxable amount for the private use of the second phone would be the monthly contract fees paid by KK Ltd.
Taxable mobile phone benefit = Total monthly contract fees * 12 months
Taxable mobile phone benefit = £60 * 12 = £720
3. Medical Insurance:
The taxable amount for medical insurance is the amount paid by KK Ltd minus the amount that would have been paid by Katy if she had obtained the same level of insurance directly.
Taxable medical insurance benefit = KK Ltd's payment - Katy's payment
Taxable medical insurance benefit = £850 - (£1,800 - £850) = £850 - £950 = -£100 (negative benefit)
Now let's calculate Katy's employment income:
Net Salary: £22,925
Taxable car benefit: £12,052.80
Taxable mobile phone benefit: £720
Taxable medical insurance benefit: -£100 (negative benefit)
Employment income = Net Salary + Taxable car benefit + Taxable mobile phone benefit + Taxable medical insurance benefit
Employment income = £22,925 + £12,052.80 + £720 - £100 = £35,597.80
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(a) The following data was obtained from Belcom Microfinance- a licensed microfinance Bank during the financial year 2020-2021:
Net Income: $. 1,500,000
Number of equity shares (2020): 150,000
Number of equity shares (2021): 250,000
Dividend paid: $.400,000 Required:
Calculate the following market value ratios for Belcom Microfinance.
(i) Earnings per share (EPS)
(ii) Dividen per share (DPS)
(iii) Dividend Payout ratio
(iii) Retention Ratio
(b) You have been tasked by the Belcom Microfinance management to calculate the value of a 3-year bond with face value of Kes. 1,200,000 and coupon rate being 9% paid annually. Calculate the value of the bond and advise whether Belcom microfinance should sell or keep the bond
The following market value ratios for Belcom Microfinance- i) EPS = $6, ii) DPS = $1.6, iii) Dividend Payout Ratio = 0.2667 or 26.67%, iv) Retention Ratio = 0.7333 or 73.33%
To calculate the market value ratios for Belcom Microfinance, we'll use the given data. Let's go step by step:
(a) Market Value Ratios:
(i) Earnings per share (EPS):
EPS = Net Income / Number of equity shares
EPS = $1,500,000 / 250,000
EPS = $6
(ii) Dividend per share (DPS):
DPS = Dividend paid / Number of equity shares
DPS = $400,000 / 250,000
DPS = $1.6
(iii)The Dividend Payout Ratio: Dividend Payout Ratio = Dividend paid / Net Income
Dividend Payout Ratio = $400,000 / $1,500,000
Dividend Payout Ratio = 0.2667 or 26.67%
(iv) Retention Ratio:
Retention Ratio = 1 - Dividend Payout Ratio
Retention Ratio = 1 - 0.2667
Retention Ratio = 0.7333 or 73.33%
(b) Determine the esteem of the bond:
To discover the esteem of the bond, we are able to utilize the show esteem of a bond equation. The equation is:
Bond Value = [tex](Coupon Payment / (1 + r)^1) + (Coupon Payment / (1 + r)^2) + (Coupon Payment + Face Value / (1 + r)^3)[/tex]
Where:
Coupon Payment = Coupon Rate * Face Value
r = Discount Rate or Yield Rate
Face Value = Kes. 1,200,000
Coupon Rate = 9%
Coupon Payment = 0.09 * Kes. 1,200,000
Coupon Payment = Kes. 108,000
Let's accept a discount rate of 10% (0.1) for this calculation.
Bond Value =[tex](108,000 / (1 + 0.1)^1) + (108,000 / (1 + 0.1)^2) + (108,000 + 1,200,000 / (1 + 0.1)^3)[/tex]
Using a calculator, we find:
Bond Value = Kes. 942,809.92 (approximately)
Based on the calculated bond esteem, if Belcom Microfinance needs to offer the bond, they ought to consider the current market conditions and their claim monetary needs. In case they accept that the bond's esteem is palatable and they require the stores, they may select to offer it. However, if they accept the bond's esteem may increment within the future or they can advantage of the settled coupon instalments, they may select to keep the bond.
Eventually, the choice to offer or keep the bond depends on the particular circumstances and objectives of Belcom Microfinance.
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Frankfurt Pump Questions for Chapter 19 (ONLY ANSWER IF YOU KNOW THE FRANKFURT PUMP CASE/STORY)
1.How does the trend from transactions to solutions affect Frankfurt Pump?
The trend from transactions to solutions has a significant impact on Frankfurt Pump. As the market evolves, customers are no longer solely focused on buying products or equipment. Instead, they seek comprehensive solutions that address their specific needs and provide added value.
This shift requires Frankfurt Pump to adapt its business model and capabilities.With a focus on solutions, Frankfurt Pump needs to move beyond simply selling pumps and associated components. The company must now understand its customers' challenges and provide integrated solutions that encompass product selection, installation, maintenance, and ongoing support. This may involve offering customized configurations, performance monitoring, predictive maintenance, and remote troubleshooting services.
By embracing the solutions approach, Frankfurt Pump can differentiate itself in the market and establish long-term relationships with customers. It allows the company to become a trusted partner rather than just a supplier. However, this shift also requires investments in technology, talent, and expertise to develop and deliver comprehensive solutions that meet customer expectations.
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Company A advertises a new position for a truck driver. They publish the following advert in the newspaper:
"Truck drivers required. Must be South African and male, females cannot be considered as trucks require a lot of strength to drive. Must have a Code XX driver’s license."
Sarah, a female truck driver would like to apply but is informed that she should have read the advert, she cannot apply. Advise Company A on whether the advertisement complies with the requirements of labour law and the Constitution and whether Sarah would have any claim against Company A.
The advert by Company A does not comply with the requirements of labour law and the Constitution and Sarah would have a claim against Company A.
Here is why:Company A's advert for the truck driver job requirement that "Must be South African and male, females cannot be considered as trucks require a lot of strength to drive" is in contravention of the Employment Equity Act No. 55 of 1998 which states that “No person may unfairly discriminate, directly or indirectly, against an employee in any employment policy or practice, on one or more grounds, including race, gender, sex, pregnancy, marital status, family responsibility, ethnic or social origin, colour, sexual orientation, age, disability, religion, HIV status, conscience, belief, political opinion, culture, language, birth or on any other arbitrary ground.”
Sarah, a female truck driver is being discriminated against based on her gender which is unconstitutional and illegal in South Africa. Sarah would have a claim against Company A for discrimination and the company could face a fine or penalties.
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4. Identify any one actual/ potential conflict among
project participants/ stakeholders in this project and briefly
discuss regarding probable root causes (Metro Tunnel Project
Melbourne).
It is essential to prioritize open communication, fairness, and respect for the rights and interests of property owners to maintain positive stakeholder relationships
In the context of the Metro Tunnel Project in Melbourne, one potential conflict among project participants and stakeholders could revolve around the issue of property acquisition and compensation.
Root Causes:
Land and Property Impacts: The construction of the Metro Tunnel may require the acquisition of land or properties located along the project route. This can lead to conflicts with property owners who may be unwilling to sell their properties or feel that the compensation offered is inadequate. The root cause of this conflict lies in the fact that property owners may have emotional attachment to their homes or businesses and may feel disrupted by the project's impact on their properties.Financial Considerations: Another root cause of conflict can be financial considerations related to property acquisition and compensation. Property owners may have differing expectations and valuation of their properties compared to the compensation offered by the project authorities. Discrepancies in valuation and disagreement over fair compensation can lead to conflicts between property owners and project stakeholders.Communication and Consultation: Lack of effective communication and consultation with property owners can also contribute to conflicts. If project authorities fail to engage property owners early in the process, provide transparent information about the project's impact on their properties, or involve them in decision-making, it can lead to distrust, frustration, and conflicts.Project Timeline and Delays: The project's timeline and potential delays can also contribute to conflicts regarding property acquisition. Property owners may face uncertainty and disruptions if the project timeline is extended or if there are delays in acquiring their properties. Such delays can impact their personal plans, relocation arrangements, or business operations, leading to conflicts with project stakeholders.Legal and Regulatory Compliance: Conflicts can arise if property owners perceive that the project authorities are not adhering to legal and regulatory requirements related to property acquisition and compensation. Any perceived violation of legal rights or disregard for established processes can erode trust and escalate conflicts.Addressing the Conflict:
To address conflicts related to property acquisition and compensation, it is important to adopt a proactive and inclusive approach. The following steps can help mitigate conflicts:
Early Engagement and Consultation: Engage property owners at an early stage to ensure their concerns are heard, and provide them with clear information about the project's impact on their properties. Seek their input, involve them in decision-making processes, and address any questions or doubts they may have.Fair and Transparent Compensation: Ensure that compensation offered to property owners is fair and transparent. Conduct thorough assessments of property values, taking into account market rates and individual property characteristics. Consider engaging independent valuers to provide unbiased assessments.Clear Communication Channels: Establish clear and effective communication channels to keep property owners informed about project progress, timelines, and any changes that may impact them. Regular updates and transparent communication can help manage expectations and minimize conflicts.Mediation and Dispute Resolution: Establish mechanisms for mediation and dispute resolution to address conflicts that may arise. Provide avenues for property owners to voice their concerns and seek resolution through a neutral third party if necessary.Adherence to Legal and Regulatory Requirements: Ensure strict compliance with legal and regulatory requirements related to property acquisition and compensation. This includes conducting due diligence, adhering to established processes, and addressing any legal concerns promptly.Learn more about prioritize here
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Rick needs an advance on his $600 bi-weekly paycheck. He goes to Cash King where he writes them a check for $690 and dates the check two weeks from today. The cost of financing Rick's payday loan is A) 547%. B) 391% C) 261%. D) 521%. Which of the following is NOT a personal retirement savings program? RRSP LIRA DBPP TFSA Which of the following is not a characteristic of common stocks? Residual claim on income Right to vote at annual shareholder meetings Lower risk than preferred stock Residual claim on company assets if company dissolves ↑
1) Rick needs an advance on his $600 bi-weekly paycheck. He goes to Cash King where he writes them a check for $690 and dates the check two weeks from today. The cost of financing Rick's payday loan is Option A: 547%.
2) Defined Benefit Pension Plans (DBPPs) is NOT a personal retirement savings program. Thus, the correct option is D.
3) The characteristic which is NOT common to the common stocks is that "they have lower risk than preferred stock."Thus, the correct answer is option C.
1) The formula for computing the interest rate on payday loans is straightforward:Interest = Principal X Rate X Time
Where, Interest is the total amount paid on the loan (interest and principal), Principal is the amount borrowed,Rates are the interest rates charged, and Time is the loan's length in days. To calculate the Annual Percentage Rate (APR) on payday loans, use the formula:
APR = Interest ÷ Principal ÷ Number of Days in a year × 100%
Where,The number of days in a year is typically 365.Calculating the interest rate in Rick's case,
Interest = $90
Principal = $600
Time = 14 days
Rate = Interest/ Principal X Time = $90/ $600 X 14 = 0.025 or 2.5%APR = 2.5% ÷ 14 days in two weeks × 365 days = 547.50%
Thus, the correct answer is option A.
2) The following are the four types of personal retirement savings plans available in Canada:Registered Retirement Savings Plans (RRSPs), Locked-in Retirement Accounts (LIRAs),Defined Benefit Pension Plans (DBPPs), andTax-Free Savings Accounts (TFSAs).
Out of these, Defined Benefit Pension Plans (DBPPs) is NOT a personal retirement savings program. Thus, the correct option is D.
3) The characteristics of common stocks include:Residual claim on income,Right to vote at annual shareholder meetings, Higher risk than preferred stock, andResidual claim on company assets if the company dissolves.
Therefore, the characteristic which is NOT common to the common stocks is that "they have lower risk than preferred stock."Thus, the correct answer is option C.
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In 2019, the cinema market in Oslo was liberalised. This opened the way for competitors to Nordisk Film to establish themselves. Consider the following situation: The British cinema chain Odeon is considering opening a new cinema in Oslo. If Odeon enters the market, Odeon must pay fixed costs of 2,500. But like Nordisk kino, Odeon has no variable costs. Let the demand (in price form) for cinema visits at Odeon's cinema (if they enter the market) be described by the function p = 200 − x − y where p is the price of a cinema visit, x is the number of tickets sold by Nordisk Kino and y is the number of tickets (possibly) sold by Odeon in the event that it chooses to enter the market. Say that Nordisk Kino wants to safeguard its monopoly by making it unfavorable for Odeon to enter the market. How many tickets must Nordisk Kino sell for it to be unprofitable for Odeon to enter the market ? Hint! Start by solving for how many tickets are optimal for Odeon to sell if they enter the market.
The number of tickets Nordisk Kino must sell for it to be unprofitable for Odeon to enter the market is 223 tickets.
If Odeon enters the market, it must pay fixed costs of 2,500, and like Nordisk kino, Odeon has no variable costs.
The demand (in price form) for cinema visits at Odeon's cinema (if they enter the market) is described by the function p = 200 − x − y where p is the price of a cinema visit, x is the number of tickets sold by Nordisk Kino and y is the number of tickets (possibly) sold by Odeon in the event that it chooses to enter the market.
We need to calculate how many tickets Nordisk Kino must sell for it to be unprofitable for Odeon to enter the market
Odeon's profit function can be written as:
Profit = Total Revenue − Total Costs
Total revenue is equal to the price of each ticket times the number of tickets sold. We can find the revenue function for Odeon as:
p(y) × y = (200 − x − y)y
= 200y − xy − y²
Let's differentiate the profit function with respect to y to find the optimal number of tickets Odeon should sell.
d(Profit)/dy = 200 − 2y − x
Odeon's optimal number of tickets can be found by setting the derivative equal to zero and solving for y.
200 − 2y − x = 0200 − x
= 2yY = (200 − x)/2
Now let's calculate how many tickets Nordisk Kino must sell for it to be unprofitable for Odeon to enter the market. Nordisk Kino's profit function can be written as:
Profit = Total Revenue − Total Costs
Total revenue is equal to the price of each ticket times the number of tickets sold. We can find the revenue function for Nordisk Kino as:
p(x) × x = (200 − x − Y)x
= 200x − x²/2 − (200 − x)x/2x²/2 + (200 − x)x/2 − 2,500 ≥ 200Y
= (200 − x)/2x² − 2x(200 − x)/2 − 5,000 ≥ 0x² − 200x − 10,000 ≥ 0x₁,₂
= (200 ± √60000)/2x₁,₂
= (200 ± 245)/2x₁
= 223x₂ = 77
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