29 Jun net income
Question
Question 21
Your parents have made you two offers. The first offer includes annual gifts of $10,000, $11,000, and $12,000 at the end of each of the next three years, respectively. The other offer is the payment of one lump sum amount today. You are trying to decide which offer to accept given the fact that your discount rate is 8 percent. What is the minimum amount that you will accept today if you are to select the lump sum offer?
A.
$28,216
B.
$29,407
C.
$29,367
D.
$30,439
E.
$30,691
Question 22
Grand Adventure Properties offers a 9.5 percent coupon bond with annual payments. The yield to maturity is 11.2 percent and the maturity date is 11 years from today. What is the market price of this bond if the face value is $1,000?
A.
$895.43
B.
$896.67
C.
$941.20
D.
$946.18
E.
$953.30
Question 23
Which one of the following types of stock is defined by the fact that it receives no preferential treatment in respect to either dividends or bankruptcy proceedings?
A.
dual class
B.
cumulative
C.
non-cumulative
D.
preferred
E.
common
Question 24
What are the distributions to shareholders by a corporation called?
A.
retained earnings
B.
net income
C.
dividends
D.
capital payments
E.
diluted profits
Question 25
A project has an initial cost of $27,400 and a market value of $32,600. What is the difference between
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