You Hired by Falcon Motors, Inc. (FMI) Located in Denver USA

You Hired by Falcon Motors, Inc. (FMI) Located in Denver USA for $19 Only (Instant Download)

You have recently been hired by Falcon Motors, Inc. (FMI) located in Denver USA, in its relatively new treasury management department. FMI was founded eight years ago by Joe Falcon. Joe found a method to manufacture a cheaper battery that will hold a larger charge, giving a car powered by the battery a range of 700 miles before requiring a charge. The cars manufactured by FMI are midsized and carry a price that allows the company to compete with other mainstream auto manufacturers. The company is privately owned by Joe and his family, and it had sales of $97 million last year.

FMI primarily sells to customers who buy the cars online, although it does have a limited number of company-owned dealerships. The customer selects any customization and makes a deposit of 20 percent of the purchase price. After the order is taken, the car is made to order, typically within 45 days. FMI’s growth to date has come from its profits. When the company had sufficient capital, it would expand production. Relatively little formal analysis has been used in its capital budgeting process. Joe has just read about capital budgeting techniques and has come to you for help. For starters, the company has never attempted to determine its cost of capital, and Joe would like you to perform the analysis. Because the company is privately owned, it is difficult to determine the cost of equity for the company. Joe wants you to use the pure play approach to estimate the cost of capital for FMI, and he has chosen Tesla Motors as a representative company. The following questions will lead you through the steps to calculate this estimate.

QUESTIONS:

1. Most publicly traded corporations are required to submit quarterly (10-Q) and annual (10-K) reports to the SEC detailing the financial operations of the company over the past quarter or year, respectively. These corporate filings are available on the SEC website at www.sec.gov. Go to the SEC website, follow the “Search for Company Filings” link, and search for SEC filings made by Tesla Motors (TSLA). Find the most recent 10-Q or 10-K, and download the form. Look on the balance sheet to find the book value of debt and the book value of equity. (10 points) (5 points for finding the data, 2.5 points for book value of debt and 2.5 points for book value of equity)

2. To estimate the cost of equity for TSLA, go to finance.yahoo.com and enter the ticker symbol TSLA. Follow the links to answer the following questions: What is the most recent stock price listed for TSLA? What is the market value of equity, or market capitalization? How many shares of stock does TSLA have outstanding? What is the most recent annual dividend? Can you use the dividend discount model in this case? What is the beta for TSLA? Now go back to finance.yahoo.com and follow the “Bonds” link. What is the yield on three-month Treasury bills? Using the historical market risk premium, what is the cost of equity for TSLA using CAPM? (10 points) (1 point per each of the first 8 questions and 2 points for cost of Equity using CAPM)

3. You now need to calculate the cost of debt for TSLA. Go to finra-markets.morningstar.com, enter TSLA as the company, and find the yield to maturity for each of TSLA’s bonds. What is the weighted average cost of debt for TSLA using the book value weights and using the market value weights? Does it make a difference in this case if you use book value weights or market value weights? (10 points) (3 points for Book Value weighted cost of Debt, 3 points for weighted average market value 4 points for the argument)

4. You now have all the necessary information to calculate the weighted average cost of capital for TSLA. Calculate this using book value weights and market value weights, assuming TSLA has a 21 percent tax rate. Which number is more relevant? (10 points) (3 points for WACC calculation at book value, 3 points for WACC using market value weights, 4 points for the argument)

5. You used TSLA as a pure play company to estimate the cost of capital for FMI. Are there any potential problems with this approach in this situation? (10 points)

Rubrics

  Descriptor
9-10 The student demonstrates an excellent understanding of the concepts.
8-8.9 The student demonstrates a good understanding of the concepts.
7-7.9 The student demonstrates a fair understanding of the concepts.
6-6.9 The student demonstrates some, but insufficient understanding of the concepts.
3-5.9 The student demonstrates insufficient understanding of the concepts. They may mention some relevant ideas or concepts, although it is clear that the relationship between them is not understood by the student.
1-2.9 The student demonstrates insufficient understanding of the concepts and does not mention any relevant ideas or concepts.
0 The student leaves the question blank or cheats.

Points are at the end of each question.

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Consultant for Medicals Inc., Manufacturer

Medicals Inc.

Consultant for Medicals Inc., Manufacturer for $14 Only (Instant Download)

CASE 1

You have been hired as a consultant for Medicals Inc., manufacturer of medical devices. The company projects unit sales for a new dental implant as follows:

Year                       Unit Sales

1                             73,000

2                              86,000

3                              97,000

4                              68,000       

  • Production of the implants will require $1,500,000 in net working capital immediately, all of which will be recovered at the end of the project.
  • Total fixed costs are $4,200,000 per year, variable production costs are $255 per unit, and the units are priced at $375 each.
  • The equipment needed to begin production has an installed cost of $8,500,000. This equipment qualifies as three-year MACRS property (depreciation rates are 33.33% for Year 1, 44.45% for Year 2, 14.81% for Year 3, and 7.41% for Year 4).
  • In four years, this equipment can be sold for about 20 percent of its acquisition cost.
  • The tax rate is 21 percent and the required return is 24 percent.
  • The company imposes a payback cutoff of three years for its investment projects.

QUESTIONS:

  1. Complete the pro forma and determine total cash flows for each year of project’s life.

Understanding the case and the process 10 points, finding the right cash flow 10 points (2 per year)

  • Calculate the following investment criteria for the project:

(a) Payback period (5 points) (2.5 for the right formula/approach and 2.5 for the right result)

(b) Profitability Index (PI) (5 points) (2.5 for the right formula/approach and 2.5 for the right result)

(c) Internal rate of return (IRR) (5 points) (2.5 for the right formula/approach and 2.5 for the right result)

(d) Net Present Value (NPV) (5 points) (2.5 for the right formula/approach and 2.5 for the right result)

  • Explain your decision whether you recommend accepting or rejecting the project. (10 points) (3 points for the right answer and 7 points for the explanation)
Year 0 1 2 3 4
Sales revenues          
Variable Costs          
Fixed Costs          
Depreciation          
EBIT          
Taxes          
Net income          
Operating Cash Flow          
Capital spending          
Net Working Capital          
After-tax salvage value          
Total Cash Flow          

Sample Answer:

Unit Sales                73,000                  86,000                 97,000                 68,000
Year01234
Sales revenues (@375 per unit)             (1,500,000)       27,375,000        32,250,000         36,375,000         25,500,000
Variable Costs (@ $255 per unit)                               –         18,615,000        21,930,000         24,735,000         17,340,000
Fixed Costs                               –           4,200,000           4,200,000           4,200,000           4,200,000
Depreciation (from row no. 15)                               –           2,833,050           2,518,959               466,217               198,719
EBIT (1-2-3-4)                               –           1,726,950           3,601,041           6,973,783           3,761,281
Taxes (value of row 5 × 21%)                               –               362,660              756,219           1,464,494               789,869
Net income (5-6)                               –           1,364,291           2,844,822           5,509,288           2,971,412

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SOC 100 Topic 2 DQ 2

SOC 100 Topic 2 DQ 2 for $7 Only
 
The major components of social structure are culture, social class, social status, roles, groups, and social institutions. Use social structure to explain why some Americans have such a low rate of college graduation. (See Table 9.3, Race-Ethnicity and Education, on page 284 of the textbook.)

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SOC 100 Topic 2 DQ 1

SOC 100 Topic 2 DQ 1 for $7 Only
 
Some typical agents of socialization are: family, school, religion, friends, relatives, and mass media. What agents of socialization have influenced you the most? Describe their influence on your attitudes, beliefs, values, or other orientations to life. How have they made you the person that you are today?

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SOC 320 Week 1 Benchmark Types of Families

SOC 320 Week 1 Benchmark Types of Families

SOC 320 Week 1 Benchmark Types of Families for $14 Only

In this assignment, you will write an essay (750-1,000 words) addressing the following prompts. Cite two to four scholarly sources in your essay:
Briefly describe how a sociologist would study family processes from the theoretical perspectives of structural functionalism, conflict, and social exchange. Give an example of each.
Describe the Standard North American (SNA) family
Compare & contrast the SNA to one other family structure.
Explain how trends affect ethnic groups in the United States.
Compare & contrast social, cultural, and historical constructs to various types of families.
Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

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FIN 650 O501 Topic 1 DQ 1

FIN 650 O501 Topic 1 DQ 1 for $7 Only
 
Briefly discuss the purpose and role that each type of financial institutions (depositary, contractual, and investment) play in the U.S. economy. How do each of these institutions intersect with the various types of markets, i.e., capital, money, spot (cash), derivatives, Forex and Interbank, primary, and secondary (inclusive of OTC)?

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FIN 650 O501 Topic 1 DQ 2 for $7

FIN 650 O501 Topic 1 DQ 2

FIN 650 O501 Topic 1 DQ 2 for $7 Only

Select a publicly traded firm of your choice that enjoys a large shareholder base. What challenges may this firm have encountered (or is likely to encounter) in terms of (a) incorporating ethics into financial management practices, and (b) maintaining/sustaining ethical practices in the face of internal or external (market) pressures? Frame your response relative to the financial manager’s fiduciary duty to maximize shareholder’s wealth.

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Filter Corp. has a Project Available

Answer of Filter Corp. has a Project Available.. for $3 Only

Filter Corp. has a project available with the following cash flows: Year Cash Flow 0 −$16,000 1 5800​ 2 7100​ 3 6100​ 4 4900​What is the project’s IRR? Group of answer choices 18.84% 20.93% 21.98% 19.62% 20.41%

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Effects of Default Risk

Default Risk

Effects of Default Risk for $3 Only (Instant Download)

Question 12 (1 pts) This question illustrates the effects of default risk on a bond’s yield to maturity. BBB Corp has a risky bond with face value of 1,000, annual coupon rate of 10%, maturity of 5 years, and an opportunity cost of capital of 11%. If bondholders exepect that there is only a 50% chance that they will receive each of the last 3 payments, what is this bonds yield-to-maturity? Enter your answer as a perecent without the “%”; round your final answer to two decimals.

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Corporate Bond Issued by Johnson Company

Corporate Bond

Corporate Bond Issued by Johnson Company for $3 Only (Instant Download)

(10 points) You just bought a corporate bond issued by Johnson Company with $1,000 par value, 8 percent annual coupon interest rate paid semi-annually, and 15 years to maturity. The current market interest rate is 12%. You plan to sell this bond at the end of four years when market interest rate falls to 6%. What will be the market value of this bond when you sell in four years? You must show work to get full credit.

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Which of the Six Factors (of the Two Groups) Comprising

six factors

Answer of “Which of the Six Factors (of the Two Groups) Comprising…” in $3 Only (Instant Download) 

1. Which of the six factors (of the two groups) comprising effective team members according to Larson and LaFasto did you score highest on when taking the Collaborative Team Member Survey? What does this tell you in regards to you being an effective team member?

2. Which of the six factors do you feel is most important for effective team members? Please provide an example.

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Salary Negotiation is a Tricky Subject

Salary Negotiation

Salary Negotiation is a Tricky Subject for $2 Only (Instant Download)

Salary negotiation is a tricky subject. It is a balancing act of wanting a position, wanting to be compensated appropriately for the skills you have and the work you will do, and the worry that if you ask for too much money, you might not be offered the position. Address the following:

  • How would you respond to the following question from a potential employer: “What kind of salary are you looking for from this position?”
  • Describe your thought process and how you would approach this situation.
  • Have you been in this situation before? How did you respond?
  • How did your response affect the job offer (or lack of an offer) that you received?

Review random peoples thoughts, evaluate their salary negotiation methods, and address the following in your replies:

  • Do you feel that the methods would be effective?
  • Have you ever used the suggested methods? If so, how did it work?
  • Do you feel that there is a potential risk with the use of this method? What about the potential reward?

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Dell Computer Inc. Bought

Dell Computer

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Dell Computer Inc. bought $750 of materials from its vendor for a particular order of 5 computers. To deliver this particular order, the Dell driver needs to stop in 5 different places to cover a total distance of 300 miles, the cost per stop is $0.43 and cost per mile is $0.25 since it is using UPS service for delivery. Marginal cost per stop is $0.25, fixed cost for handling a pallet of computers (pallet size=5) is $10 and the variable cost of handling the same pallet is $7.00.  Find the shipment cost per computer.

A. $19.57

B. $15.57

C. $13.57

D. $17.57

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You Survey a Sample of 1000 Employees

Survey

You Survey a Sample of 1000 Employees for $5 Only (Instant Download)

1. You survey a sample of 1000 employees at a company and record the age of each. The results are below. If you randomly select another employee, what is the probability that the employee, what is the probability that the employee will be between the ages 25 and 44?

Employee Ages Frequency Ages Frequency
15-245445-54180
25-34 36655-64125
35-4423365+42

2. Two cards are selected in sequence from a standard deck. Find the probability that the second card is a queen, given the first card is a king. (Assume the king is not replaced)

3. A coin is tossed and a die is rolled. Find the probability of tossing a head and then rolling a 6.

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Bond Issued by Kraft Heinz Foods Co

Kraft Heinz Foods Co

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Below is the listing of a bond issued by KRAFT HEINZ FOODS CO (KHC). Below the detail of the bond is the information on a recent sale of part of the bond issue. • Explain what the price of $110.534 on a $100 par value bond means in this purchase. Explain how the yield to maturity of 3.270% is calculated • Contrast that with the calculation of the current yield of 4.184%. • Explain why it matters to know if the bond pays interest monthly, semi-annually or annually. This bond does not mature for almost 9 years. Explain the concept of interest rate risk in context with this bond for both the issuer and the investor. Rating Issuer -CUSIP Baa3 – Moody’s KRAFT HEINZ BBB FOODS CÓ (KHC) Coupon 4.625% Maturity 01/30/2029 ofesorice $110534 Price $110.534 Yield to Maturity 3.270% Current Yield Dated 06/15/2018 Minimun Size 10K Coupon Pd Semi-Annual Callable No 4.184%

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The Standard Deviation of the Market-Index

The Standard Deviation of the Market-Index

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The standard deviation of the market-index portfolio is 15%. Stock A has a beta of 2.20 and a residual standard deviation of 25%. a. Calculate the total variance for an increase of 0.20 in its beta. (Do not round intermediate calculations. Round your answer to the nearest whole number.) Answer is complete but not entirely correct. Total variance 18 b. Calculate the total variance for an increase of 3.84% in its residual standard deviation (Do not round Intermediate calculations. Round your answer to the nearest whole number.) Answer is complete but not entirely correct. Total variance 26

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FESTO Manufactures Questions

FESTO Manufactures Questions

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FESTO manufactures solenoids widely used in automation equipment. In order to set up the manufacturing plant, the company estimated the monthly fixed costs due to capital recovery and machinery to be RM 75,000 and variable costs estimated at RM75 per unit. The selling price per unit is dependent on demand and estimated to be reduced when more units are being produced as given by p= 200 – 0.05D, where D is the demand/production rate. a) If the production rate (assumed to be equal to demand D) is 2,500 units per month, determine the company’s profits. b) Determine the optimal production rate (assumed to be equal to demand D) to maximize profit. c) Determine the range of production within which the operation is still profitable. (30 marks)

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