1. Find the expected value of y = sin x if x is uniformly distributed between 0 and 2π.
2. A random variable x has the probability density function
3. Find the autocorrelation of the periodic process shown in Fig. P4.3.3. This signal has a Fourier series given by
1. Find the system function (i.e.. z-transform) of the following feedback filter:
2. Determine the system function of the system implemented by the following MATLAB statement:
1. Find cost of capital for a company of your choice.
Steps involved: Determine equity beta, determine its current capital structure, determine its pre-tax cost of debt (keep in mind that determining cost of debt for companies with low credit rating involves different approach than for companies with high debt rating), determine weighted average cost of capital (r WACC)
2. Propose an expansion project for the company from question 1 in a business area that is different from its current area(s). Find asset return in the proposed area of business. Find weighted average cost of capital of the expansion project assuming that the company would finance it with the same mixture of debt and equity as the rest of the company.
3. You have just been hired by Internal Business Machines Corporation (IBM) in their capital budgeting division. Your first assignment is to determine the free cash flows and NPV of a proposed new type of tablet computer similar in size to an iPad but with the operating power of a high-end desktop system. Development of the new system will initially require an initial capital expenditure equal to 10% of IBM’s Property, Plant, and Equipment (PPE) at the end of fiscal year 2014. The project will require an additional investment equal to 10% of the initial investment after the first year of the project, a 5% increase after the second year, and a 1% increase after the third, fourth, and fifth years. The product is expected to have a life of five years. First-year revenues for the product are expected to be 3% of IBM’s total revenue for the fiscal year 2014. The new product’s revenues are expected to grow at 15% for the second year then 10% for the third and 5% annually for the final two years of the expected life of the project. Your job is to determine the rest of the cash flows associated with this project. Your boss has indicated that the operating costs and net working capital requirements are similar to the rest of the company and that depreciation is straight-line for capital budgeting purposes. Here are some tips to guide your analysis:
1. Obtain IBM’s financial statements. (If you really worked for IBM you would already have this data, but at least you won’t get fired if your analysis is off target.) Down load the annual income statements, balance sheets, and cash flow statements for the last fiscal years from Yahoo! Finance (finance.yahoo.com). Enter IBM’s ticker symbol and then go to “financials.”
2. You are now ready to estimate the Free Cash Flow for the new product. Compute the Free Cash Flow for each year as
Free Cash Flow=(Revenues-Costs-Depreciation) x(1-TC) + Depreciation – Capital Expenditure –
Set up the timeline and computation of free cash flow in separate, contiguous columns for each year of the project life. Be sure to make outflows negative and inflows positive.
a. Assume that the project’s profitability will be similar to IBM’s existing projects in 2014 and estimate (revenues-costs) each year by using the 2014 EBITDA/Sales profit margin. Calculate EBITDA as EBIT + Depreciation expense from the cash flow statement.
b. Determine the annual depreciation by assuming IBM depreciates these assets by straight-line method over a 5-year life.
c. Determine IBM’s tax rate by using the income tax rate in 2014.
d. Calculate the net working capital required each year by assuming that the level of Net working capital will be a constant percentage of the project’s sales. Use IBM’s 2014 net working capital/sales to estimate the required percentage. (Use only accounts receivable, accounts payable, and inventory to measure working capital. other components of current assets and liabilities are harder to interpret and not necessarily reflective of the project’s required net working capital- for example, IBM’s cash holdings.)
e. To determine the free cash flow, deduct the additional investment and the change in net working capital each year.
3. Use Excel to determine the NPV of the project with a 12% cost of capital.
1. Hard copy of assignment should be stapled in the top left corner and submitted to the School Office. 2. Electronic copy of assignment should be submitted through the Turnitin software. 3. 10% of marks are awarded for satisfactory use of language and/or good presentation. 4. 5% of marks are awarded for satisfactory referencing and/or presentation of a bibliography where either is required. Note that all referenced work should be obtained from credible sources. 5. Students should ensure that they comply with Glyndwr University’s plagiarism policy. 6. Students should make correct use of the Harvard referencing method. Learning Outcomes Tested in this Assignment : 1. To identify the sources of finance available to various business entities and understand who uses financial statements and why. 2. To understand the content of basic financial statements and be able to analyse, using various financial indicators, the performance of a business. Would students please note that achievement of the learning outcomes for this assessment is demonstrated against the assessment criteria shown below (which are not necessarily weighted equally). All marks/grades remain indicative until they have been considered and confirmed by the Assessment Board Assessment Criteria Grade Awarded Grade Available 1 Identify sources of finance available to the various business entities (Sole trader, Partnerships, Private Limited Companies, and Public Limited Companies). 10% 2 Explain who uses financial statements, and why they use them. 15% 3 Describe the information source, format, content and purpose of the financial statements (Income Statement, and Statement of Financial Position). 20% 4 Calculate ratios, and then explain what each ratio means and give possible reasons for the differences in the results of the individual ratios over the two years. 40% 5 Satisfactory use of English, including grammar, spelling, clarity of presentation. 10% 6 All sources of information are to be referenced satisfactorily 5% Additional Comments from Second marker or External Examiner (if required) : LEARNING OUTCOMES 3. Identify the sources of finance available to various business entities and understand who uses financial statements and why. 4. To understand the content of basic financial statements and be able to analyse the financial performance of a business using various financial indicators. Scenario Your organisation, Alpha plc, producer of hi-tech scientific equipment, is introducing a graduate intake programme and financial awareness is going to be part of the induction training. You have been tasked to provide literature on the sources of finance available to an organisation. 1. Prepare a report outlining sources of finance available, the advantages and disadvantages of each of these for a business (including the costs of these sources). The work you have produced for the graduate induction programme has been very well received. It has been identified that graduates also need to know how to examine the financial health of a business for decision-making purposes. To accomplish this you should: 2. Explain who uses financial statements, and why they use them.
Attachments:
finance-assig….docx
1-Free Flow Products, the largest wholesaler in the area, refuses to sell its products to Papa Gene, Inc., a small retailer. Under antitrust law, this is
2- fran and wally do business as partners in Laugh Riot. for federal income tax purposes, Laugh riot would be treated as
3- which of the following demonstrates permanent legal residency in US?
4- under antitrust law, the reasonableness of an exclusive-dealing contract is never a justifiable defense.
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1-Free Flow Products, the largest wholesaler in the area, refuses to sell its products to Papa Gene, Inc., a small retailer. Under antitrust law, this is Not a violation Subject to the rule of reason A deceptive practice A per se violation 2- fran and wally do business as partners in Laugh Riot. for federal income tax purposes, Laugh riot would be treated as A partnership by estoppel A natural person A tax-paying entity A pass-through entity 3- which of the following demonstrates permanent legal residency in US? I-551 Alien Registration Receipt I-9 verification H-IB visa L visa 4- under antitrust law, the reasonableness of an exclusive-dealing contract is never a justifiable defense. True Fales 5- As presented in class in the movie clip from inside job, leading up to the financial crisis of 2008 investment banks bundled risky home loans into securities called_______ that were then sold to investors. Subprime mortgage Credit default swaps Collateralized debt obligations Adjustable rate mortgage 6- wizbang widgets requires its employees to have at least 2 years of college, claiming a definite connection between 2 years of college and job performance. In a suit against wizbang under the civil rights act of 1964, the plaintiff shows that this job requirements discriminates against a protected class. Wizbang can offer No defense An affirmative action defense A bona fide occupational qualification defense A business necessity 7- Under the business judgment rule a director or officer can be held legally liable for bad (mistaken) business decisions. A-True (Business Judgment Rule: A rule that immunizes corporate management from liability for actions that are undertaken in good faith and are within both the power of the) B-Fales 8- the civil rights act of 1964 prohibits job discrimination against minority and majority group individuals, such as white males True false 9- three small restaurant suppliers with little market power decide together that they…
Attachments:
Bussiness-law….docx
1. Heart Start produces automated external defibrillators (AEDs) in each of two different plants (A and B). The unit production costs and monthly production capacity of the two plants are indicated in the table below. The AEDs are sold through three wholesalers. The shipping cost from each plant to the warehouse of each wholesaler along with the monthly demand from each wholesaler are also indicated in the table. How many AEDs should be produced in each plant, and how should they be distributed to each of the three wholesaler warehouses so as to minimize the combined cost of production and shipping?
Unit Shipping Cost
Unit
Monthly
Warehouse 1
Warehouse 2
Warehouse 3
Production
Cost
Production
Capacity
Plant A
$22
$14
$30
$600
100
Plant B
$16
$20
$24
$625
120
Monthly Demand
80
60
70
1. From Scenario 1, evaluate the technology proposed by Shawn Paschal. What is your recommendation on the adoption of this technology? Explain your reasoning.
2. From Scenario 1, what do you recommend to King Fisher regarding changing their 30 day collection period? Explain your reasoning.
3. From Scenario 2, what are your recommendations on the investment project? Explain your reasoning.
4. From Scenario 2, what are your recommendations for investment in the new technology?
5. From Scenario 3, evaluate King Fisher's target capital structure. What are your recommendations? Consider the impact of taxes and explain your reasoning.
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(1) Grunewald Industries sells on terms of 2/10, net 40. Gross sales last year were$4,562,500 and accounts receivable averaged $437,500. Half of Grunewald’s customerspaid on the 10th day and took discounts. What are the nominal and effectivecosts of trade credit to Grunewald’s nondiscount customers? (Hint: Calculate sales/day based on a 365-day year, then calculate average receivables of discount customers,and then find the DSO for the nondiscount customers.
1 graph + 200 words explanation
due today 5pm Singapore time
Attachments:
FBCC49B4-6369….jpegC7236C0E-F7D3….jpeg
1.Graph an increase in money supply and in a separate graph, show the effect this will have on the AD/AS model. Explain the link between the two graphs. 2. Graph an increase in Aggregate supply. How will this effect the phillips curve?
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