text:
Multiple Problems
For Help with Multiple Homework Problems, Ask an Expert
1) the target structure for QM industies is 35% common stock 5% prefered stock and 60% debt. if the cost of common equity for the firm is 18.7% the cost of the prefered stock is 9.1 % the before tax cost of debt is 7.8% and the firms tax rate is 35% what is QMs average cost of capital?
2.) crypton electronics has a capital structure consisiting of 41% common stock and 59% debt. a dept issue of $1000 par value 5.8% bonds that mature in 15 years and pay an annual interest will sell for $980 common stock of the firm is currently selling for $29.43 per share and the firm expects to pay $2.21 dividend next year. dividens have grown at a rate of 4.6% oer year and are expected to continue. What is the cost of capital where the tax rate is 30%
3)the target capital stucture for jowers manufacturing is 54% common stock 11% prefered stock and 35% debt. If the common costs of equity for teh firm is 20.8% the cost fo prefered stock is 11.7% and the before tax cost of dept is 10.9% what is Jowers cost f capital. The tax rate is 34%
4)your supervisor has asked you to compute the discount rate for new packaging equipment. you have determined the market value of the firms capital structure as follows; to finance the purchase the firm will sell 10 yr bonds paying 6.9% per year at the market price of $1055 preffered stock paying 2.06 per dividend can be sold for 24.04 common stock is currently selling for $54.32 per share and the firm paid a $3.03 dividenc last year. dividends are expected to continue growing at a rate of %4.6 per year into the indefinite future. if the tax rate is 30% what discount rate should you use to evaluate the equipment purchase.
5)Abe Forrester and three of his friends from college have interested a group of venture capitalists in backing their business idea. The proposed operation would consist of a series of retail outlets to distribute and service a full line of vacuum cleaners and accessories. These stores would be located in Dallas, Houston, and San Antonio. To finance the new venture two plans have been proposed:• Plan A is an all-common-equity structure in which $2.2 million dollars would be raised be selling 90,000 shares of common stock.• Plan B would involve issuing $1.3 million dollars in long-term bonds with an effective interest rate of 12.4% plus $.9 million would be raised by selling 45,000 shares of common stock. The debt funds raised under Plan B have no fixed maturity date, in that this amount of financial leverage is considered a permanent part of the firm's capital structure.Abe and his partners plan to use a 38% tax rate in their analysis, and they have hired you on a consulting basis to do the following:
a. Find the EBIT indifference level associated with the two financing plans.
b. Prepare a pro forma income statement for the EBIT level solved for in Part a. that shows that EPS will be the same regardless whether Plan A or B is chosen.
6) three recent graduates of the computer science program at the university of Tennessee are forming a company that will write and distribute new application software for the iPhone. Initially the corporation will operate in the southern region of Tennessee, Georgia, north Carolina, and South Carolina. A small group of private investors in the Atlanta, Georgia area is interested in financing the startup company and two financing plans have been put forth for consideration:
The first plan (plan A) is an all-common-equity capital structure. 2.1 million dollars would be raised by selling common stock at $10 per common share
- Plan B would involve the use of financial leverage. 1.1 million dollars would be raised by selling bonds with an effective interest rate of 10.9% (per annum) and the remaining 1 million would be raised by selling common stock at the $10 price per share. The use of financial leverage is considered to be a permanent part of the firms capitalization, so no fixed maturity date is needed for the analysis. A 30% tax rate is deemed appropriate for the analysis.- A. Find the EBIT indifference level associated with the two financial plans. (nearest $)
- B. A detailed financial analysis of the firms prospects suggests that the long term EBIT will be above $339,000 annually. Taking this into consideration, which plan will generate the higher EPS?
Please note that there is some data missing from question 4, what are the weights of each component?
Also, the amount offered is a bit low for all those questions, please consider adding a bonus
Please advise your deadline.
Thank you


text:
What started out as a popular phenomenon in progressive Western cities (Amsterdam started the trend in the '60s and Portland, Ore., was the first city to catch on in the U.S. in 1994) has now been adopted by the developing world.
And how.
Hangzhou, a city of 6.77 million people in southeastern China, started a program by which bikes are made available for shared use to people who don't own them in 2008 — with 2,800 bikes spread out at 61 locations around the city.
By 2011, the number of bikes had mushroomed to 51,500 at 2,050 different spots, according to Elizabeth Press at Streetfilms.org.
For a city with 1.5 million fewer people than New York City, Press wrote, Hangzhou's bike-share program "blows all other bike-shares off the map."
Good magazine gives that statement teeth: "Montreal, Mexico City, Washington D.C., London and Paris, all of which are regularly lauded for their systems, all have between 1,000 and 10,000 bikes."
To be fair, the Washington Post put Paris' program closer to 20,000 bikes by 2008.
But any way you cut it, Hangzhou outshines all other European and American contenders.
China's bike culture surely helped Hangzhou along, but the program's success is largely due to how integrated it is into the transportation network of the city. Drop-off/pick-up locations — near bus stops, parking lots and water taxi stations — are less than a quarter mile from one another in the city center.
Check out Streetfilms short doc on the matter: The Biggest, Baddest Bike-Share in the World: Hangzhou China
And here's a map of bike-sharing programs worldwide.

subset: commoncrawl


text:
Indicia title is "FLASH GORDON, No. 512." Code number is F.G.O.S. #512-5311. Copyright 1953 by King Features Syndicate. Continued from Flash Gordon (Dell, 1953 series) #2 (May-July 1953).
Inside front cover; black and white.
Story continues on inside back cover in black and white and concludes on back cover in color. Splash panel is signed "FT".


text:
Chardon High School senior Janna Stefanko was named Maple Festival Queen at Thursday evening's pageant at the Geauga Lyric Theater on Chardon Square.
Stefanko participates in the Tech Prep Showcase, 4-H, Junior Fair Board and volunteers at Camp Sue Osborne.
She plans to pursue a nursing degree at Kent State University's Geauga campus following graduation.
The 10 contestants were judged on the basis of poise, personality and originality of a skit based on the contestant's future goals or a commercial promoting Geauga County.
The pageant's first runner-up was Brianna Lang, a Chardon High School junior.
Chardon High School junior Christina Praetzel was named second runner-up.
Stafanko received a $1,000 savings bond while Lang and Praetzel each were awarded cash prizes.
The queen and runners-up will take part in events throughout the Maple Festival and ride in the parades on Saturday and Sunday.
The festival continues though 7 p.m. Sunday.


text:
Criticize Larry Agran, Go to Jail
Photo by Davis BarberLarry Agran likes to acknowledge that he participated in the Berkeley Free Speech Movement in the 1960s—can even recite key passages from Mario Savio's famous 1964 speech outside Sproul Hall in which Savio called on students "to put your bodies upon the gears and upon the wheels, upon the levers, upon all the apparatus" of "the machine" "to make it stop."
Now Agran is a part of the odious machine. The man who once went to jail in New York City for protesting the denial of his right to speak has now proposed a series of amendments to Irvine's Rules of Ethical and Open Governance that could send to jail any City Council member who criticizes him.
Here's how it would work:
* Claiming there has been "a lot of thoroughly unjustified criticism and outright attacks on our staff," it would be illegal for a council member to say anything perceived as negative about city workers.
Upcoming Events
Anaheim Ducks vs. Vancouver Canucks
TicketsThu., Nov. 9, 7:00pm
PBR: Real Time Pain Relief Velocity Tour
TicketsSat., Nov. 11, 7:00pm
Anaheim Ducks vs. Tampa Bay Lightning
TicketsSun., Nov. 12, 5:00pm
Anaheim Ducks vs. Boston Bruins
TicketsWed., Nov. 15, 7:00pm
* It would be "an ethical breach" to make "knowingly false claims against others."
* Irvine would create a lobbyist registration and disclosure program, but only for "paid" lobbyists.
The motions are Councilman Agran's latest attempt to escape charges of cronyism and unethical behavior leveled in recent years at him and his political ally, Mayor Beth Krom, by other Council members and the media.
It was Krom who agendized what she calls an "Ethics Ordinance" for discussion. She cited "defamatory and politically motivated accusations at the dais" made by a "kangaroo court" council meeting on August 24, 2004 that exposed a link between Ed Dornan, who raises campaign money and produces slate mailers for Agran and Krom, and an energy company called ENCO trying to get a contract with Irvine to run a city utility.
Ironically, if Agran's proposals were law last year, he and Krom might be the most frequent violators.
Agran explained away the "wild political charges" about Dornan as simply "obfuscation associated with election-year politics and grudges emanating from" then-Councilman Chris Mears. He alleged that Mears was motivated by Agran's supposed refusal to support him in the pending election due to "certain conduct and behavior that have compromised his ability to properly and objectively discharge his public responsibilities."
That meeting was also infamous for Agran, then the Mayor, dismissing investigative reports by the Weekly as stories "in between tummy-tuck advertisements, and breast and penis enlargement advertisements."
Krom ran her own potty mouth in observing, "Some of us are better at pissing matches than the other." She accused the questioning Council members of "spending public dollars to carry out a vendetta" and implied that Councilwoman Christina Shea had financial links to Southern California Edison.
Newspaper stories in July 2005 reported evidence that Forde & Mollrich, a political consulting firm with ties to Agran and Dornan, may have overcharged Irvine for propaganda services related to the Great Park.
In a July 28 Great Park board meeting, Councilman Steven Choi asked why line-items on F&M invoices had been whited out. Agran said Choi's question was "a vicious smear" of the consultant and of city staff. Krom accused Shea and Choi of "misleading the press" by using their council aides to leak city documents to the media. Krom speculated it was "a continuation of the hollow stream of vitriolic and unfounded accusations that punctuated our City Council meetings."
Agran's proposals would amend the Adopted Standards for Ethical Behavior, various guidelines adopted in past years by the City. Under current rules, a violation of these standards is not criminal.
But Krom and Agran want to convert these standards into an ordinance. The difference between a "standard" and an "ordinance" is that an ordinance has the force of law.
What's the penalty for violating an ordinance?
It depends.
An ordinance can specify a penalty, which can be an infraction (similar to a parking ticket) or a misdemeanor, which is punishable by up to a year in the county jail.
Many ordinances, though, specify no penalty, so there really are no remedies for a person who violates one. But it is a law, and the violator can be branded a "law breaker," perhaps even a "criminal."
Agran said he wants his proposals to become ordinances so they have "enforcement mechanisms and teeth" with penalties. While he may not particularly care if his critics go to jail, criminalizing criticism of him can come in very handy during an election year.
It's clear his proposal banning "attacks" on City staff is aimed at stifling Councilman Steven Choi's investigation of the F&M invoice.
The exemption for unpaid lobbyists seems carved out to protect Dornan, who claimed his lobbying work for ENCO was unpaid. Dornan's name came up again recently when a Cox Communications official alleged he was told he should hire Dornan to negotiate a stalled franchise renewal with Irvine's representatives, who are--guess who--Agran and Krom.
But the proposed ordinance regulating "false claims" seems aimed directly at Shea, who is up for re-election in November 2006, and could run for mayor against Krom.
The rules say it's up to the mayor to decide what's a violation, and the mayor happens to be Krom. The intent of this "Ethics Ordinance" may be to find Shea in violation any time she asks probing questions, in council meetings or anywhere else. Although the consequence could be imprisonment, more likely it would be used in Dornan-produced slate mailers next year to brand Shea as "unethical," a "law breaker," and perhaps even a "criminal."
McCarthyism is alive and well in Irvine.
* * * * *
Legend has it that Agran carries a copy of the U.S. Constitution in his pocket.
He was the Mayor of the City Council in 1990 that passed a Free Speech Rights Ordinance which protected the right of citizens to speak, circulate petitions for signature, and distribute literature in public places so long as they don't obstruct access or threaten public safety.
During his quixotic campaign for the Democratic presidential nomination in 1991 and 1992, Agran was systematically excluded from candidate forums and debates. He bravely stood up in the crowd at a debate in Nashua, New Hampshire, and demanded inclusion; two local cops were leading him out of the room when the outraged citizenry embarrassed the other candidates into inviting him onto the dais.
But that paled in comparison with what happened in the Bronx, when the same stunt resulted in a thumping by the NYPD, who busted him on charges of disorderly conduct, criminal trespass and resisting arrest.
Years ago, in discussing his motivation for standing up at those events, Agran told me, "I had become so frustrated that I concluded that this was not a legitimate process . . . I was reminded of Martin Luther King when he said that these laws [sanctioning racial segregation] do not deserve respect, these are not rules to be respected."
Years later, for reasons only a psychiatrist might be able to explain, the man who defended free speech at Berkeley, who went to jail to protest laws that do not deserve respect is now proposing them himself. One wonders what happened to the man who for the sake of principle was dragged out and beaten that night in the Bronx.
Get the ICYMI: Today's Top Stories Newsletter Our daily newsletter delivers quick clicks to keep you in the know
Catch up on the day's news and stay informed with our daily digest of the most popular news, music, food and arts stories in Orange County, delivered to your inbox Monday through Friday.
Recommended for You
Powered by SailThru
Upcoming Events
Lucha VaVOOM! (18+)
TicketsFri., Oct. 27, 7:00pm
Anaheim Ducks vs. Toronto Maple Leafs
TicketsWed., Nov. 1, 7:00pm
Anaheim Ducks vs. Nashville Predators
TicketsFri., Nov. 3, 7:00pm
Anaheim Ducks vs. Los Angeles Kings
TicketsTue., Nov. 7, 7:00pm
Sponsor Content


text:
Tweets from @TBHomeTeam/writers
MORE from our HomeTeam writers.
Thu. February 24, 2011 | Eduardo A. Encina
Tampa Catholic, which extended its win streak to 24 games with Wednesday's Class 3A state semifinal win over Port Orange Atlantic, seeks its second straight state crown tonight. The Crusaders face North Broward Prep in tonight's 7:05 p.m. final, with hopes of becoming Hillsborough County's first girls basketball team to win consecutive state championships.


text:
An improving job market may be in sight for Lincoln County.
The unemployment rate for March dropped from a 6.3 to a 5.5 percent.
"There are actually over 400 more people back at work,†said Judi Morton, manager at Lincoln County's Employment Security Commission
The Lincoln Economic Development Association in Lincolnton is also assisting in bringing jobs to the county, she said.
New industries such as Crate & Barrel and Australian Manufacturing have recently listed jobs with ESC.
Surrounding companies are also expanding. The Timken Company has received incentives from the county that will enable them to expand their current industry. Cataler is also planning an expansion in the future, doubling the size of their building. Blum, located in Stanley has expansion in their future as well.
"We have had no sizable layoffs either,†Morton said. "I would say things are looking up.â€
The unemployment rate is also being calculated differently. It is now based on county of residence, rather than county of employment.
Morton said this change shows a more accurate reflection of the county's unemployment rates since it is now linked to how many people live in a certain county.
Surrounding counties also experienced decreases.
Catawba County went down from a 6.9 to a 6.2 percent. Cleveland County went from a 7.7 to a 6.8. Gaston County went from a 6.7 percent to 6 percent for the month.
According to the Employment Security Commission of North Carolina, rates dropped dramatically for the month of March.
The statewide not seasonally adjusted rate dropped from 5.9 to 5.2 percent.
Overall, 97 counties' unemployment rate dropped, two counties' rates went up and one county's rate remained the same.
Orange County had the state's lowest unemployment rate at 3.3 percent. Tyrrell County had the highest rate at 11.7 percent.
There were 39 counties who had rates less or equal to the 5.2 percent state rate.
The national average fell from a 5.4 percent to a 5.2 in March. North Carolina has been at or below the national average for eleven consecutive month.
by Amy Wadsworth
You must be logged in to post a comment Login


text:
Just a week after President Bush unveiled his plan to bail out hundreds of insolvent savings and loans, some of them took a turn for the perverse by getting into a costly new interest-rate war. Houston's Commonwealth Savings cranked up the rates it pays on six-month "jumbo" certificates of deposit (typical size: $100,000) from 9.6% to a hefty 10.75%. In California, Pasadena's BancPlus Savings followed suit with a 10.5% six-month rate. One reason for the feverish run-up was the need for the thrifts to compensate depositors for the perceived risk of putting money in those S & Ls, despite the Government's...
SAVINGS AND LOANS: Offers They Can't Afford
Offers They Can't Afford
Subscriber content preview. or Log-In
To continue reading: or Log-In


text:
Yann Huguet (Skil Shimano), Nikolas Maes (Quick Step) and Jurgen Roelandts (Omega Pharma Lotto) characterized the third and 208 kilometer long stage of Paris-Nice between Saintjunien and Aurillac.
Entering the last 20 kilometers, Nikolas Maes (Step Quick) could no longer handle the high pace of the front group and dropped back to the peloton where Caisse d'Epargne controlled the pace. Shortly after, the breakaway was caught.
Three kilometers to go, a strong riding Jens Voigt went away with a handful of riders and they managed to distance the chasing pack with a few seconds. Peter Sagan (Liquigas) took the stage but Team Saxo Bank's Jens Voigt took over the leader's jersey by finishing fourth.
"Jens did another great stage. Lars Boom had shown weaknesses during the stage and Jens seized the opportunity when the time was right. Jens has been showing great power from the start of the race and I think he can take home a top result among the best of the race. We are very pleased about taking the lead but there is still a long way to Nice and there is a lot of hard work to be done," says sports director Kim Andersen.