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About the FIN 370 Final
The Finance for Business final exam is extremely challenging for the majority of students. You can expect to encounter a variety of detailed finance problems, such as calculating Net Present Value (NPV) and Internal Rate of Return (IRR). You will also need to have a comprehensive understanding of how currency markets work and how to solve various currency exchange problem. If you struggle with math, you will have problems with about 40% of the questions on the test. But don't worry... Our answer sheet is designed to alleviate these problems.
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Apple Two Enterprises expects to generate sales of $5,950,000 for fiscal 2014; sales were$3,450,000 in fiscal 2013. Assume the following figures for the fiscal year ending 2013: cash $70,000; accounts receivable $250,000; inventory $400,000; net fixed assets $520,000; accounts payable $235,000; and accruals $155,000. Use the percent-of-sales method to forecast cash for the fiscal year ending 2014.
Explanation: 3450000 / 70000 = 0.0203 x 5950000 = 120,725
Metals Corp. has $2,575,000 of debt, $550,000 of preferred stock, and $18,125,000 of common equity. Metals Corp.'s after-tax cost of debt is 5.25%, preferred stock has a cost of 6.35%, and newly issued common stock has a cost of 14.05%. What is Metals Corp.'s weighted average cost of capital?
Project Sigma requires an investment of $1 million and has a NPV of $10. Project Delta requires an investment of $500,000 and has a NPV of $150,000. The projects involve unrelated new product lines. What is your evaluation of these two projects?
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1) The goal of the firm should be
A. maximization of profits
B. maximization of shareholder wealth
C. maximization of consumer satisfaction
D. maximization of sales
2) An example of a primary market transaction is
A. a new issue of common stock by AT&T
B. a sale of some outstanding common stock of AT&T
C. AT&T repurchasing its own stock from a stockholder
D. one stockholder selling shares of common stock to another individual
16) Compute the payback period for a project with the following cash flows, if the company’s discount rate is 12%.
Initial outlay = $450
Year 1 = $325
Year 2 = $65
Year 3 = $100
A. 3.43 years
B. 3.17 years
C. 2.88 years
D. 2.6 years
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