Agency theory concepts
Using agency theory concepts, explain how restrictive covenants that forbid leases and liens on a firm's assets might cause the firm to achieve a higher rating on its bonds than would be possible without such covenants.
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Winegartner Cosmetics is setting up a line of credit at its bank for $5 million for up to two years. The interest rate is 5.875 percent and the loan agreement calls for an annual fee of 40 basis points on any unused balance for the year.
You estimate that Salt Lake has a 95% probability of paying you on time, which is in three months, and a 5% probability of paying nothing. If the opportunity cost of funds is 18% per year, what is the net present value of granting credit?
You have built a model for a company you are analyzing, but realize that you mistakenly entered $100 million in depreciation instead of the correct value of $110 million. Assuming a 20% tax rate, what is the downward adjustment on net income if yo
What characteristic of absorption costing caused the drop in net operating income for the second quarter and what could the controller have said to explain the problem?
Healthy Potions, Inc., a pharmaceutical company, bought a machine that produces pain-reliever medicine at a cost of $2 million five years ago.. The machine has been depreciated over the past five years, and the current book value is $800,000.
Your boss asks you to compute the company's cash conversion cycle. Looking at the financial statements, you see that the average inventory for the year was $126,300, accounts receivable were $97,900, and accounts payable were at $115,100.
Six Twelve is considering opening up a new convenience store in downtown New York City. The expected annual revenue is $800,000. To estimate the increase in working capital,
Truman Industries is considering an expansion project. The necessary equipment could be purchased for $9 million, and the project would also require an initial $3 million investment in net working capital. The company's tax rate is 40%. What is th
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