...Chapter 6 Commodity Forwards and Futures Question 6.1. The spot price of a widget is $70.00. With a continuously compounded annual risk-free rate of 5%, we can calculate the annualized lease rates according to the formula: F0,T = S0 × e(r−δl )×T ⇔ F0,T S0 = e(r−δl )×T S0 = (r − δl ) × T F0,T 1 ln T S0 ⇔ ln F0,T ⇔ δl = r − Time to expiration Forward price Annualized lease rate 3 months $70.70 0.0101987 6 months $71.41 0.0101147 9 months $72.13 0.0100336 12 months $72.86 0.0099555 The lease rate is less than the risk-free interest rate. The forward curve is upward sloping, thus the prices of exercise 6.1. are an example of contango. Question 6.2. The spot price of oil is $32.00 per barrel. With a continuously compounded annual risk-free rate of 2%, we can again calculate the lease rate according to the formula: δl = r − F0,T 1 ln T S0 Time to expiration Forward price Annualized lease rate 3 months $31.37 0.0995355 6 months $30.75 0.0996918 9 months $30.14 0.0998436 12 months $29.54 0.0999906 80 Chapter 6 Commodity Forwards and Futures The lease rate is higher than the risk-free interest rate. The forward curve is downward sloping, thus the prices of exercise 6.2. are an example of backwardation. Question 6.3. The question asks us to find the lease rate such that F0,T = S0 . We take our pricing formula, F0,T = S0 × e(r−δl )×T , and immediately see that the sought equality is established if e(r−δl )×T = 1, which is guaranteed for any T > 0 if and only if...
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...income = 51 350 Cash dividends = 15 000 Addition to retained earnings = Net income – Cash dividends = 51 350 – 15 000 = 36 350 Task 4 Earnings per share = Net income/Total share outstanding = 51 350/20 000 = 2,5675 Dividends per share = Cash Dividends/Total share outstanding = 15 000/20 000 = 0,75 Task 5 Current assets = Net working Capital + Current liabilities = 600 000 + 750 000 = 1 350 000 Book value current assets = 1 350 000 Book value net fixed assets = 750 000 Book value assets = 1 350 000 + 750 000 = 2 100 000 Market value current assets = 1 500 000 Market value net fixed assets = 2 000 000 Market value assets = 1 500 000 + 2 000 000 = 3 500 000 Task 6 Tax rate = 39% Taxable income = 145 000 Income taxes: 1) 0,15 * 50 000 = 7 500 2) 0,25 * (75 000 – 50 000) = 6 250 3) 0,34 * (100 000 – 75 000) = 8 500 4) 0,39 * (145 000 – 100 000) = 17 550 Total income tax = 1 + 2 + 3 + 4 = 39 800 Task 7 Average tax rate = Total income tax/Net income = 39 800/145 000 = 27,45% Marginal tax rate = 39% Task 11 Cash flow to cresitors = Interest paid - Net new borrowing = 700000-900000=-200000 Task 12 Cash flow to stockholders= Dividents paid - Net New equity raised = 300000-450000=-150000 Task 13 Відповіді з 11 і 12 разом формують cash flow from assets. OCF = Net capital spending + Change in NWC + cash flow from assets = 500000-135000-200000-150000=15000 Task 14 65 000 - 41 000 - 3 000 - 1 750 = 19 250 EBIT 19 250 - 7 000 = 12 250 Taxable income ...
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...CHAPTER 6 Accounting and the Time Value of Money ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) | | |Brief Exercises | | | |Topics |Questions | |Exercises |Problems | | 1. |Present value concepts. |1, 2, 3, 4, | | | | | | |5, 9, 17 | | | | | 2. |Use of tables. |13, 14 |8 |1 | | | 3. |Present and future value problems: | | | | | | |a. Unknown future amount. |7, 19 |1, 5, 13 |2, 3, 4, 7 | | | |b. Unknown payments. |10, 11, 12 |6, 12, |8, 16, 17 |2, 6 | | | | |15, 17 | | | | ...
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...ACCT 305 Accounting Information Systems Chapter 6 Review Questions 1. Several Unique problems and risks associated with computerized information networks are unauthorized access, use, disclosure, disruption, modification, or destruction 2. Elements included in an ISMS system such as hardware, databases, procedures, and reports. 3. Development of ISMS requires application of the life cycle approach for system maintenance purposes. 4. Risk Management is the identification, assessment, and prioritization of risks. 5. Quantitative Approach - each loss exposure is computed as the product of the cost of an individual loss times the likelihood of its occurrence. Qualitative Approach – lists out the system’s vulnerabilities and threats and subjectively ranks them in order of their contribution to the company’s total loss exposures. 6. Types of threats that affect information systems a) Active threats include information systems fraud and computer sabotage. b) Passive threats include system faults, as well as natural disasters (e.g., earthquakes, floods, fires, and hurricanes). 7. Characteristics of white-collar criminal 8. Types of individuals pose a threat to an information system a) Computer and information systems personnel: are often given a wide range of access privileges to sensitive data and programs. b) Users: are given narrow access, but can still find ways to commit fraud. c) Intruders and attackers: are...
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... FOR MORE CLASSES VISIT www.fin534tutor.com FIN 534 Week 1 Chapter 1 Solution FIN 534 Week 1 Chapter 2 Solution FIN 534 Week 2 Chapter 3 Solution FIN 534 Week 3 Chapter 4 Solution FIN 534 Week 3 Chapter 5 Solution FIN 534 Week 4 Chapter 6 Solution FIN 534 Week 4 Chapter 7 Solution FIN 534 Week 5 Chapter 8 Solution FIN 534 Week 5 Chapter 9 Solution FIN 534 Week 6 Chapter 10 Solution FIN 534 Week 6 Chapter 11 Solution FIN 534 Week 7 Chapter 12 Solution FIN 534 Week 7 Chapter 13 Solution FIN 534 Week 8 Chapter 14 Solution FIN 534 Week 8 Chapter 15 Solution FIN 534 Week 9 Chapter 16 Solution FIN 534 Week 10 Chapter 17 Solution Fin 534 Week 1 Quiz 1 FIN 534 Week 3 Quiz 2 FIN 534 Week 4 Quiz 3 FIN 534 Week 5 Quiz 4 FIN 536 Week 6 Quiz 5 FIN 534 Week 7 Quiz 6 FIN 534 Week 8 Quiz 7 FIN 534 Week 9 Quiz 8 FIN 534 Week 10 Quiz 9 FIN 534 Week 11 Quiz 10 FIN 534 Week 1 DQ 1 FIN 534 Week 1 DQ 2 FIN 534 Week 2 DQ 1 FIN 534 Week 2 DQ 2 FIN 534 Week 3 DQ 1 FIN 534 Week 3 DQ 2 FIN 534 Week 4 DQ 1 FIN 534 Week 4 DQ 2 FIN 534 Week 5 DQ 1 FIN 534 Week 6 DQ 1 FIN 534 Week 7 DQ 1 FIN 534 Week 7 DQ 2 FIN 534 Week 8 DQ 1 FIN 534 Week 8 DQ 2 FIN 534 Week 9 DQ 1 FIN 534 Week 9 DQ 2 FIN 534 Week 10 DQ 1 FIN 534 Week 10 DQ 2 FIN 534 Week 11 DQ 1 FIN 534 Week 11 DQ 2 ------------------------------------------------------------------------------------ FIN 534 Week 1 Chapter 1 Solution (Str Course) FOR MORE CLASSES VISIT www.fin534tutor.com 1. Which...
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...300 Quizzes Week 1-11 Solution All possible questions with answers BUS 300 Week 2 Quiz 1: Chapters 1 and 2 BUS 300 Week 3 Quiz 2: Chapters 3 and 4 BUS 300 Week 4 Quiz 3: Chapters 5 and 6 BUS 300 Week 5 Quiz 4: Chapters 7 and 8 BUS 300 Week 6 Quiz 5: Chapters 9 and 10 BUS 300 Week 7 Quiz 6: Chapters 11 and 12 BUS 300 Week 8 Quiz 7: Chapters 13 and 14 BUS 300 Week 9 Quiz 8: Chapters 15 and 16 BUS 300 Week 10 Quiz 9: Chapters 17 and 18 BUS 300 Week 11 Quiz 10: Chapter 19 BUS 300 Quizzes Week 1-11 Solution All possible questions with answers BUS 300 Week 2 Quiz 1: Chapters 1 and 2 BUS 300 Week 3 Quiz 2: Chapters 3 and 4 BUS 300 Week 4 Quiz 3: Chapters 5 and 6 BUS 300 Week 5 Quiz 4: Chapters 7 and 8 BUS 300 Week 6 Quiz 5: Chapters 9 and 10 BUS 300 Week 7 Quiz 6: Chapters 11 and 12 BUS 300 Week 8 Quiz 7: Chapters 13 and 14 BUS 300 Week 9 Quiz 8: Chapters 15 and 16 BUS 300 Week 10 Quiz 9: Chapters 17 and 18 BUS 300 Week 11 Quiz 10: Chapter 19 BUS 300 Quizzes Week 1-11 Solution All possible questions with answers BUS 300 Week 2 Quiz 1: Chapters 1 and 2 BUS 300 Week 3 Quiz 2: Chapters 3 and 4 BUS 300 Week 4 Quiz 3: Chapters 5 and 6 BUS 300 Week 5 Quiz 4: Chapters 7 and 8 BUS 300 Week 6 Quiz 5: Chapters 9 and 10 BUS 300 Week 7 Quiz 6: Chapters 11 and 12 BUS 300 Week 8 Quiz 7: Chapters 13 and 14 BUS 300 Week 9 Quiz 8: Chapters 15 and 16 BUS 300 Week 10 Quiz 9: Chapters 17 and 18 BUS 300...
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...Chapter 5, Problem 1. The equivalent model of a certain op amp is shown in Fig. 5.43. Determine: (a) the input resistance. (b) the output resistance. (c) the voltage gain in dB. 8x104vd Figure 5.43 for Prob. 5.1 Chapter 5, Solution 1. (a) (b) (c) Rin = 1.5 MΩ Rout = 60 Ω A = 8x104 Therefore AdB = 20 log 8x104 = 98.0 dB Chapter 5, Problem 2 The open-loop gain of an op amp is 100,000. Calculate the output voltage when there are inputs of +10 µV on the inverting terminal and + 20 µV on the noninverting terminal. Chapter 5, Solution 2. v0 = Avd = A(v2 - v1) = 105 (20-10) x 10-6 = 1V PROPRIETARY MATERIAL. © 2007 The McGraw-Hill Companies, Inc. All rights reserved. No part of this Manual may be displayed, reproduced or distributed in any form or by any means, without the prior written permission of the publisher, or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation. If you are a student using this Manual, you are using it without permission. Chapter 5, Problem 3 Determine the output voltage when .20 µV is applied to the inverting terminal of an op amp and +30 µV to its noninverting terminal. Assume that the op amp has an open-loop gain of 200,000. Chapter 5, Solution 3. v0 = Avd = A(v2 - v1) = 2 x 105 (30 + 20) x 10-6 = 10V Chapter 5, Problem 4 The output voltage of an op amp is .4 V when the noninverting input is 1 mV. If the open-loop gain of the op amp is 2 × 106, what is the inverting...
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...Chapter 3, Problem 1. Determine Ix in the circuit shown in Fig. 3.50 using nodal analysis. 1 kΩ Ix 9V + _ 2 kΩ + _ 6V 4 kΩ Figure 3.50 For Prob. 3.1. Chapter 3, Solution 1 Let Vx be the voltage at the node between 1-kΩ and 4-kΩ resistors. 9 − Vx 6 − Vx Vk + = 1k 4k 2k Vx Ix = = 3 mA 2k ⎯⎯ Vx = 6 → PROPRIETARY MATERIAL. © 2007 The McGraw-Hill Companies, Inc. All rights reserved. No part of this Manual may be displayed, reproduced or distributed in any form or by any means, without the prior written permission of the publisher, or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation. If you are a student using this Manual, you are using it without permission. Chapter 3, Problem 2. For the circuit in Fig. 3.51, obtain v1 and v2. Figure 3.51 Chapter 3, Solution 2 At node 1, − v1 v1 v − v2 − = 6+ 1 10 5 2 At node 2, 60 = - 8v1 + 5v2 (1) v2 v − v2 = 3+ 6+ 1 4 2 Solving (1) and (2), v1 = 0 V, v2 = 12 V 36 = - 2v1 + 3v2 (2) PROPRIETARY MATERIAL. © 2007 The McGraw-Hill Companies, Inc. All rights reserved. No part of this Manual may be displayed, reproduced or distributed in any form or by any means, without the prior written permission of the publisher, or used beyond the limited distribution to teachers and educators permitted by McGraw-Hill for their individual course preparation. If you are a student using this Manual, you are using it without permission. Chapter...
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...Solutions to Case Problems Manual to Accompany An Introduction To Management Science Quantitative Approaches To Decision Making Twelfth Edition David R. Anderson University of Cincinnati Dennis J. Sweeney University of Cincinnati Thomas A. Williams Rochester Institute of Technology R. Kipp Martin University of Chicago South-Western Cincinnati, Ohio Contents Preface Chapter 1: Introduction ♦ Scheduling a Golf League Chapter 2: An Introduction to Linear Programming ♦ Workload Balancing ♦ Production Strategy ♦ Hart Venture Capital Chapter 3: Linear Programming: Sensitivity Analysis and Interpretation of Solution ♦ Product Mix ♦ Investment Strategy ♦ Truck Leasing Strategy Chapter 4: Linear Programming Applications in Marketing, Finance and Operations Management ♦ Planning an Advertising Campaign ♦ Phoenix Computer ♦ Textile Mill Scheduling ♦ Workforce Scheduling ♦ Duke Energy Coal Allocation Chapter 6: Distribution and Network Models ♦ Solution Plus ♦ Distribution Systems Design Chapter 7: Integer Linear Programming ♦ Textbook Publishing ♦ Yeager National Bank ♦ Production Scheduling with Changeover Costs Chapter 8: Nonlinear Optimization Models ♦ Portfolio Optimization with Transaction Costs Chapter 9: Project Scheduling: PERT/CPM ♦ R.C. Coleman Chapter 10: Inventory Models ♦ Wagner Fabricating Company ♦ River City Fire Department Chapter 11: Waiting Line Models ♦ Regional Airlines ♦ Office Equipment, Inc. Chapter 12: Simulation ♦ Tri-State Corporation...
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...Chapter Solutions Operations Management.pdf DOWNLOAD HERE CHAPTER 12: INVENTORY MANAGEMENT – Suggested Solutions to ... http://users.ipfw.edu/khamaljn/P301/Class_Notes/Solutions-Chapter12.pdf 1 BUS P301:01 CHAPTER 12: INVENTORY MANAGEMENT – Suggested Solutions to Selected Questions Summer II, 2009 Question 12.5 This is EOQ with D = 19,500 units/yr; H = $ ... CHAPTER 11 Operations Management http://www.eng.uwi.tt/depts/mech/ugrad/courses/meng3006/Week09b.pdf Operations Management, ... • To decouple operations ... CHAPTER 11 11-39 Inventory Management Economic Production Quantity I n v en t o r y L ev el CHAPTER 10 Operations Management - Academic Resources at ... http://academic.missouriwestern.edu/mlewis14/MGT%20416/Lectures/My%20Chap010.pdf Operations Management 8th edition 10-2 Quality Control CHAPTER 10 Quality Control McGraw-Hill/Irwin Operations Management, Eighth Edition, by William J. Stevenson PRODUCTION/OPERATIONS MANAGEMENT - … http://faculty-staff.ou.edu/B/Samir.Barman-1/POMsp02.doc PRODUCTION/OPERATIONS MANAGEMENT. BAD 5262 . SPRING 2002. Course Instructor: Samir Barman, Ph.D. ... Apr 02 Chapter 3 All Example Problems. Operations in a PR: 3.1-3.6 Chapter 7 Accounting for Financial Management http://harbert.auburn.edu/~yostkev/teaching/finc3630/notes/Chapter7solutions.pdf Chapter 7 Accounting for Financial Management ANSWERS TO END-OF-CHAPTER QUESTIONS 7-3 No, because the $20 million of retained earnings would probably not be held as cash...
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...Organizational Behavior SYLLABUS FALL 2012 Mondays 6:00pm-8:45pm 102 GORE HALL Instructor: Meg Reno Email: mreno86@aol.com Phone: 302-598-9878 (c) 302-475-4196 (h) The following details how the course will be taught and what will be expected of each student. Required Texts Management and Organizational Behavior, Custom Edition for University of Delaware, Pearson, Course Pak McGraw ISBN-10 1121130593 CHANGE THIS Order online: www.mcgrawhillcreate.com/shop Course Description The course will focus on individuals and groups in organizations. We will discuss the concepts of diversity, corporate culture, personality, motivation, power, conflict, communication and group behavior, etc. Each unit will give you the theory and the skills to better understand yourself and others. In addition, you will grasp the impact of people strategies on organizational effectiveness and tools/techniques to support team effectiveness and help people reach maximum potential. Course Objectives The following course objectives will be achieved by the end of the term. Each student will: • Understand the environmental context in which organizational change takes place. • Comprehend the issues relevant to individual and group behavior in organizations. • Understand the people strategies involved in effective management practices. • Describe the organizational issues and possible solutions. Each student should take responsibility for achieving...
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...Business Decision Making Session – IV Chapter 11: Linear Programming Chapter 12: Transportation, Transshipment, and Assignment Problems Chapter 13: Decision Analysis Faculty Pankaj Dutta Chapter – 11 Linear Programming LPP solution through Excel Solver: The Steps in Implementing an LP Model in a Spreadsheet: 1. 2. 3. 4. Organize the data for the model on the spreadsheet. Reserve separate cells in the spreadsheet for each decision variable in the model. Create a formula in a cell in the spreadsheet that corresponds to the objective function. For each constraint, create a formula in a separate cell in the spreadsheet that corresponds to the left-hand side (LHS) of the constraint. PANKAJ DUTTA IMTCDL Chapter – 11 Linear Programming LPP solution through Excel Solver: Max Z = 350X1 + 300X2 Subject To 1X1 + 1X2 ≤ 200 9X1 + 6X2 ≤ 1566 12X1+16X2 ≤ 2880 X1 , X 2 ≥ 0 1. Organize the data for the model on the spreadsheet. PANKAJ DUTTA IMTCDL Chapter – 11 Linear Programming LPP solution through Excel Solver: Max Z = 350X1 + 300X2 Subject To 1X1 + 1X2 ≤ 200 9X1 + 6X2 ≤ 1566 12X1+16X2 ≤ 2880 X1 , X 2 ≥ 0 1. Organize the data for the model on the spreadsheet. Changing cells Target cell PANKAJ DUTTA IMTCDL Constraint cells Chapter – 11 Linear Programming Max Z = 350X1 + 300X2 Subject To 1X1 + 1X2 ≤ 200 9X1 + 6X2 ≤ 1566 12X1+16X2 ≤ 2880 X1 , X 2 ≥ 0 LPP solution through Excel Solver: 1. Organize the...
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...heat and work energy. To describe and apply the Second Law of Thermodynamics from several points of view: randomness, chaos, probability, distribution of matter and energy, energy efficiency. 4. To know that we measure energy only through change, such as with a calorimeter. 5. To use potential energy diagrams to represent changes that take place in reactions 6. To use the terms endothermic and exothermic to describe the entry or exit of heat from chemical systems (and that the opposite change must take place in the surroundings). 7. To know that energy changes in reactions come from changes in chemical bonds, and how they can be estimated from differences in bond energies of bonds broken vs. formed. 8. To express and interpret these changes in potential energy diagrams and apply these skills to the combustion of fuels. 9. To view and describe recent trends in energy source utilization. 10. To give specific details on the composition of coal and its impacts on environmental quality. Assignments: Read §4.1 – 4.5. Recommended exercises: From the above sections, all in-chapter “Your Turn” exercises, and chapter-end problems selected from #1 – 18, 24 - 29 4/30 Outcomes: 1. To describe petroleum as a mixture of hydrocarbons, and how they are separated industrially. 2. To distinguish alkanes from other types of hydrocarbons. 3. To draw examples of straight-chain and branched alkanes and give...
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...Problems From Chapter 1 through 10 Sorang Kim BHU MBA 671 Corporate Finace Professor Mensah Dartey April 14, 2013 Chapter 1, Problem 6 (pp. 6 ~ 8) Problem You are a shareholder in a C corporation. The corporation earns $2 per share before taxes. Once it has paid taxes it will distribute the rest of its earnings to you as a dividend. The corporate tax rate is 40% and the personal tax rate on (both dividend and non-dividend) income is 30%. How much is left for you after all taxes are paid? Solution Profit after corporate taxes=corporate earnings*(1-corporate tax rate) =2*(1-0.4)=1.2 Profit after personal taxes=profit after corporate taxes*(1-personal taxes) =1.2*(1-0.3)=0.84 The true profit received by shareholder after payment of all taxes in C corporate is $0.84. Chapter 2, Problem 9 (pp.26~28) Problem In July 2007, Apple had cash of $7.12 billion, current assets of $18.75 billion, current liabilities of $6.99 billion, and inventories of $0.25 billion. Solution a. Market capitalization Current ratio=current asset/current liabilities =18.75/6.99=2.682 b. Quick ratio=(current asset-current inventories)/current liabilities =(18.75-0.25)/6.99=2.646 c. DLL quick ratio=1.25 DLL current ratio=1.3 As compare to DLL, APP has more ideal current asset. An ideal current asset to meet all short term debt obligation is 2:1. And APP has more liquidity to pay their short term requirements compare to DLL. Chapter 3, Problem...
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...To download more slides, ebooks, solution manual and test bank, visit http://downloadslide.blogspot.com Solutions Manual COST ACCOUNTING © 2012 Pearson Education, Inc. Publishing as Prentice Hall. SM Cost Accounting 14/e by Horngren © 2012 Pearson Education, Inc. Publishing as Prentice Hall. SM Cost Accounting 14/e by Horngren To download more slides, ebooks, solution manual and test bank, visit http://downloadslide.blogspot.com Solutions Manual COST ACCOUNTING Fourteenth Edition Charles T. Horngren Srikant M. Datar Madhav Rajan Upper Saddle River, NJ 07458 © 2012 Pearson Education, Inc. Publishing as Prentice Hall © 2012 Pearson Education, Inc. Publishing as Prentice Hall. SM Cost Accounting 14/e by Horngren This work is protected by United States copyright laws and is provided solely for the use of instructors in teaching their courses and assessing student learning. Dissemination or sale of any part of this work (including on the World Wide Web) will destroy the integrity of the work and is not permitted. The work and materials from it should never be made available to students except by instructors using the accompanying text in their classes. All recipients of this work are expected to abide by these restrictions and to honor the intended pedagogical purposes and the needs of other instructors who rely on these materials. Acquisition Editor: Stephanie Wall Editorial Project Manager: Christina Rumbaugh Editorial Assistant: Brian Reilly Project Manager, Production:...
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