finance

The Board of Directors of Mintex Corporation have decided to raise £10m of debt finance for 10 years for a new project. The Finance Manager of the company has had detailed discussions with the company’s bankers and also a merchant banking firm which advises on raising finance from the markets for their operations.
(a) The following two alternatives have been identified:
(i) Finance from the bank: this will carry an interest rate of 8% per annum paid
yearly. CLICK HERE TO ORDER THIS ESSAY!!!!
(ii) Finance from a bond issue: this will have a face value of £100, carry a coupon of 6% and will be redeemed at its face value at maturity. Investors are prepared to pay £94 per bond. Issue costs to be deducted from the proceeds of a market issue, are estimated at 3%.
Assume that all interest is tax deductible, but not issue costs or front end expenses, or
capital payments. The rate of taxation is 40%.
Which source of finance is lower in cost? Show all workings. (25 marks)

Question 2
Sunfun Limited is considering the acquisition of Verlan Limited. Both Sunfun and Verlan are all equity financed. The Management of Sunfun has estimated that if it takes over Verlan it can increase the pre tax cashflows of Verlan by $1m every year. The current market value of Sunfun is $65 million. It has 13 million shares outstanding. The current market value of Verlan is $30 million and it has 3 million shares outstanding. Verlan has an equity beta of 0.6. The return on the market portfolio is 12%; the return on t-bills is 4%. Verlan pays tax at the rate of 25% on its profits. If the transaction completes, Sunfun will incur acquisition costs of $0.5m. Using theory as appropriate,
(i) What is the maximum price that Sunfun can pay as cash for a share of Verlan?
(ii) Is an exchange of 2.0 shares of Sunfun per share of Verlan, fair to Sunfun shareholders?
(iii) Critically evaluate all assumptions made in the calculations. CLICK HERE TO ORDER THIS ESSAY!!!!
(25 marks)
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Formulas for Corporate Finance

A. NPV and Internal Rate of Return (IRR)

NPV = ? CFt
( 1 + k) t

IRR= R1+ ((NPV(R1)/(NPV(R1)-NPV(R2))(R2-R1),

B. Portfolios (two asset case)

(i) E(R) = w1 R1 + w2R2,

(ii) ?p = ? (w12 ?12 + w2 ?22 + 2 w1w2?1?2 ?12 )

(iii) Covariance = ?12 ?1?2
C. CML/SML

(i) Capital Market Line equation: Rp = Rf + ( Rm-Rf ) ?p/?m
(ii) Security Market Line (SML): Rj = Rf + ?j ( Rm-Rf)
`?j’ is the market sensitivity of the security

= Covariance (j,m) / Variance (m)
= ? p (Rj- Rj ) ( Rm- Rm) / (? p (Rm-Rm)2 ) = ?j m ?j / ?m
? p =1

D. Cost of Capital Relationships (with taxation), asset and equity beta

(i) Kg = Ku + ( Ku-Kd) (l – T) (B/VS)
(ii) Vg = Vu + TB (with perpetual debt)
(iii) WACC=Ku(1-TL); L=B/Vg
(iv) ?eg = ?u + (?u -?d)(1-T)(B/Vs)

E. Dividend Valuation Models

P = ? ( Dt / (1+k)t )
Special cases:
(i) When the perpetual growth rate in dividends is `g,’ then
P = D1 / (k-g)
(ii) With constant dividends; P = D1/ k

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what are some risk of not getting vaccinated

what are some risk of not getting vaccinated write an essay on what are some risks of not getting vaccinated.  CLICK HERE TO ORDER THIS ESSAY!!!!

Frequency and cumulative relative frequency of the age groups

Using the USA 5th edition; Solve Problem and Applications: 7, Ch1-prob 4 p27 and ch2-prob 1 p54

Ch1-prob 4 p27: Data from the 2000 U.S. Census show the following distribution of ages for residents of Ohio:

Total Households 4,445,773
Family households (families) 2,993,023
With own children under 18 years 1,409,912
Married-couple family 2,285,798
With own children under 18 years 996,042
Female householder, no husband present 536,878
With own children under 18 years 323,095
Nonfamily households 1,452,750
Householder living alone 1,215,614
Householder 65 years and over 446,396 CLICK HERE TO ORDER THIS ESSAY!!!!

a. Construct a column chart to visually represent these data.
b. Construct a stacked bar chart to display the sub categories where relevant. (Note that you will have to compute additional subcategories, for instance, under Family households, the number of families without children under 18, so that the total of the subcategories equals the major category total. The sum of all categories does not equal the total.)
c. Construct a pie chart showing the proportion of households in each category.
ch2-prob 1 p54: A community health status survey obtained the following demographic information from the respondents:
Age Frequency
18–29 297
30–45 661
46–64 634
65 + 369

Compute the relative frequency and cumulative relative frequency of the age groups. Also, estimate the average age of the sample of respondents. What assumptions do you have to make to do this? CLICK HERE TO ORDER THIS ESSAY!!!!

Human Capital Development Plan

Introduction and Problem Statement (5 points). The first component of the Human Capital Development Plan (HCDP) ? (See book reference below) provides the background and will include: CLICK HERE TO ORDER THIS ESSAY!!!!

Introductory paragraph(s):
This section begins with a few short, succinct introductory paragraphs (approximately one page maximum). The primary goal of the introductory paragraphs is to catch the attention of the readers and to get them "turned on" about the subject. Do not use the ?word? introduction, but rather use the title of the paper as the main heading. If you choose to use another level heading, check APA to see the form and style to follow.

This section sets the stage for the paper and puts your topic in perspective. The introduction often contains dramatic and general statements about the need for the study. It uses dramatic illustrations or quotes to set the tone. When writing the introduction, put yourself in your reader’s position – would you continue reading? CLICK HERE TO ORDER THIS ESSAY!!!!

Statement of the Problem
The statement of the problem is the focal point of your research. It is just one sentence (with several paragraphs of elaboration). You are looking for something wrong. ….or something that needs close attention….or existing methods that no longer seem to be working.

Example of a problem statement:
"The frequency of middle managers leaving the organization is creating fear, anxiety, and a loss of productivity in the organization?s personnel."

Actual Statement of the Problem: The ?problem? of student retention in higher education is not just the problem of retention per se, but rather on how institutional leaders think about student retention, completion, and success. CLICK HERE TO ORDER THIS ESSAY!!!!

While the problem statement itself is just one sentence, it is always accompanied by several paragraphs that elaborate on the problem. Present persuasive arguments why the problem is important enough to study. Include the opinions of others (academic researchers, futurists, other professionals). Explain how the problem relates to the business, social or political trends by presenting data that demonstrates the scope and depth of the problem. Try to give dramatic and concrete illustrations of the problem. After writing this section, make sure you can easily identify the single sentence that is the problem statement.

Mandatory Reference: You must use the following text book along with other related references.

Hall, B. W. (2008). The new human capital strategy, improving the value of your most important investment – year after year. New York, NY: Amoco Books. CLICK HERE TO ORDER THIS ESSAY!!!!

racial division and superiority in Australia

racial division and superiority in Australia In Australia, a society created on the basis of racial division and superiority, the ugly face of prejudice and discrimination is, unsurprisingly, still very evident today" Discuss this statement. CLICK HERE TO ORDER THIS ESSAY!!!!

active or passive euthanasia

active or passive euthanasia What is the difference between active or passive euthanasia and what is the moral significance of this distinction?  CLICK HERE TO ORDER THIS ESSAY!!!!

Classical composers

watch a sporting event if you know what is going on during the game: rules, players, statistics, object, etc. The same with a concert. The more you know about the concert, the better you will like it. CLICK HERE TO ORDER THIS ESSAY!!!!
Assignment B: Research and gather information about the concert that you are planning to attend and present it in a 1,500 word formal research paper. This assignment is worth 20/35 Assignment points for the semester (and 20% of your final grade). You will be graded on clarity of writing and quality of research. I would like you to write an informative paragraph about each composer and each of the works to be performed on the concert that you are attending (95% of the word count or 1,400 words). Also, you are to write briefly about the performers, i.e., Minnesota Orchestra, Minnesota Opera, the soloist(s), and the conductor (5% of the word count or 100 words). Basically find out as much as you can about the concert that you are planning to attend and write a paper. CLICK HERE TO ORDER THIS ESSAY!!!!
Composer info: when did they live? Where did they live? What “period” of music history did they live during? What kinds and styles of music did they write? What are they most famous for? What other composers did they know or have relationships with? Why is their music interesting, important, beautiful, exciting? Did they have a family, a spouse, children? Did they have other jobs besides writing music? What was their personality like?
Work info: when was the piece written? What instruments is it written for? What does the title mean (DEFINE EVERY WORD!!!)? Is it one movement or more than one movement? What does that mean? How can you (or others that you quote or paraphrase) describe the music – fast, slow, major, minor, sad, happy, beautiful, exciting, thick texture, sparse texture, lyrical, rhythmic, dance-able, are their words? Is their text? Who wrote the text? What other information can you find that gives you a sense of what this piece might sound like when you finally get to hear it? CLICK HERE TO ORDER THIS ESSAY!!!!