corporate finace solutions Essay - 1010 Words

BUSS384 - Corporate Finance - Problem Set #1 Due by Wednesday, 15 October 2014 1. [10 points] Sydney Industries, Inc., is considering a new project that costs $30 million. The project will generate after-tax (year-end) cash flows of $8 million for five years. The firm has a debt-to-equity ratio of 0.25. The cost of equity is 12 percent and the cost of debt is 7 percent. The corporate tax rate is 40 percent. It appears that the project has the same risk of the overall firm. Should Sydney undertake the project? 2. [10 points] Here is some data for three firms in the restaurant industry: Firm #1: $100 million in debt, $200 million in equity, current estimated equity beta of 3.0 Firm #2: $200 million in debt, $200 million in equity,†¦show more content†¦There are 2 million shares outstanding. How many shares would you need to hold to be certain that you can elect at least one director assuming that (a) [5 points] Spartan has straight voting (b) [10 points] Spartan has cumulative voting 5. [15 points] Consider two firms A and B that are identical in all respects except capital structure. Firm A has $160 million in equity outstanding and $40 million in bonds outstanding. Firm B has $200 million in equity outstanding and $0 million in bonds outstanding. (a) Suppose an investor has an $8 million investment in the stock of firm A. What alternative $8 million investment that includes firm B’s stock will give the investor the same cash flow payoff in future years as his current investment in firm A’s stock? (Hint: I am looking for the amount of cash you would invest in firm Bs stock and the amount of cash you would either invest in other securities or borrow from other sources so that $8 million comes out of your pocket today and you get the exact same cash payoff down the road as the current $8 million investment in firm A’s stock.) (b) Suppose an investor has a $16 million investment in the stock of firm B. What alternative $16 million investment that includes firm A’s stock will give the investor the same cash flow payoff in future years as his current investment in firm B’s stock? (Hint: I am looking for the amount of cash you would invest in firm As stock and the amount of

Endangered Species Free Essays

I have selected endangered species as my topic because no matter what we do or where we go, everything around us is affected by any changes that we make in the surrounding environment. One of the articles that I have selected covers multiple attacks that have been made by gray wolves killing huge quantity of valuable cattle and other livestock and whether or not they should be removed for the endangered species list. The other defines and talks about endangered species themselves and the reason that the endangered species list was created in the first place. We will write a custom essay sample on Endangered Species or any similar topic only for you Order Now Endangered Species Author: Current EventsTitle: Man versus WildDocument type: Article (Informational)Primary audience: Educational| Author: The McGraw-Hill Companies, Inc. Title: Endangered speciesDocument type: Encyclopedia (Informational)Primary audience: Educational| | | In a search that I did in the AIU library, I can across an article from an informational magazine called† Current Events†. This is an informational article where the primary audience is teachers and students. They talk about a particular animal that is currently on the endangered species list called the gray wolf.According to the article, â€Å"In 2008, the U. S. Fish and Wildlife Service (USFWS) suggested that the gray wolf population had recovered to the point at which it no longer needed to be listed in some states† (Current Events, 9/27/2010). But according to the article, some wildlife protection groups took action to put an end to the proposal. The gray wolf was first put on the endangered species list by the USFWS in 1974. But according to estimates given by experts that the magazine collected the research from, â€Å"There are 1,700 gray wolves in Idaho, Montana, eastern Oregon, Washington, and Wyoming.I came up with the thesis statement of â€Å"No matter what we do or where we go, everything around us is affected by any changes that we make in the surrounding environment†. In Michigan, Minnesota, and Wisconsin, there are about 4,000, and gray wolves have been spotted in Colorado, Utah, and as far east as New England† (Current Events, 9/27/2010). Now the USFWS is making its’ fourth attempt to remove the gr ay wolf from the list in Minnesota, Wisconsin, and Michigan but Michigan and Wisconsin are both asking to decrease the wolf population by ten percent annually from the government. And a U. S. representative from Texas is proposing to ban the gray wolf from being listed as endangered or threatened in any state from the Endangered Species Act. But quite a few wildlife protection organizations oppose any change in the status and still say a wolf recovery plan is still needed even though there are reports of losses in Montana and Idaho. One case where a Montana rancher lost â€Å"at least three calves, valued at $2,400, to the Horse Creek wolf pack before wildlife officials took action† (Current Events, 9/27/2010).The McGraw-Hill Concise Encyclopedia of Science and Technology defines an endangered species as â€Å"A species that is in danger of extinction throughout all or a significant portion of its range. â€Å"Threatened species† is a related term, referring to a species likely to become endangered within the foreseeable future. The main factors that cause species to become endangered are habitat destruction, invasive species, pollution, and overexploitation† (McGraw-Hill Concise Encyclopedia of Science and Technology (2004). â€Å"The evidence of a recovery for the gray wolf is as plain as day,† says U.S. Rep. Denny Rehberg (R-Mont. ), who supports Edwards’s proposal. â€Å"Yet Montana †¦ wildlife managers have their hands tied when it comes to managing the predator. † (Current Events, 9/27/2010). Currently gray wolves are still on the endangered species list and can only be killed with the governments permission or by an authorized government agent as they deem necessary, but quite a few wildlife officials feel that the wolf population is stable however and are ready to â€Å"pull the trigger when packs pose problems† and believe that â€Å"part of having wolves is having o kill wolves,† Mark Collinge, director for Wildlife Services in Idaho, told The Associated Press (Current Events, 9/27/2010). Some wildlife advocates say that man will always come out as top dog in the battle of humans versus wolf and that human activity, hunting, and trapping put the gray wolf on the endangered species list in the first place. And there is the possibility of the wolves becoming endangered again if they were to be removed from the list. And some wildlife advocates still don’t agree that their population is large enough to recover fr om harsh winters and disease if humans are a threat as well.And simply reintroducing a certain number of wolves back into a particular region may not be enough according to Humane Society of the United States (Current Events, 9/27/2010). So in conclusion, both the USFWS and wildlife protection groups will have to at some point come together at look at what is best for both the gray wolf and also what is best for the people that have to live in the regions that are populated by the gray wolf and come to a joint decision about the final action to be take in order to keep both parties out of harm’s way.This article agrees with my thesis statement of â€Å"because no matter what we do or where we go, everything around us is affected by any changes that we make in the surrounding environment† because it is giving both sides of the story that is presented and giving insight as to why each side is taking the actions that have been said and giving reference points on those act ions instead of just saying something to say it and not having anything to represent their case on the subject. How to cite Endangered Species, Papers

Withered Arm Analysis free essay sample

You could not improve your tatus unless people of different social statuses got married hich was highly unlikely. Hardys hatred towards this class system however, is shown far more in The sons veto. In that story, the class system is criticized because it causes people to do things according to their desires. All women in these stories are the way they are because of their society. The male characters of the story are essential to how the women are influenced. In the withered arm the female character, Rhoda, is first physically described as having a tisty tosty little body. She was a lorn milkmaid. She is described to look older than her age. Already, we have begun to get this image of an old -even frail- lady who has overworked. She is a woman who has clearly gone through a lot and has even been isolated along with her illegitimate son by her society because of the affair she had with Farmer Lodge, Their course lay apart from that, of the others. We will write a custom essay sample on Withered Arm Analysis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Notice how it is the female in the relationship is affected by society, Lodge moves on with his life and even gets married he isnt isolated. This makes readers feel that this is definitely unfair. Farmer Lodge is a typical man of those ages who didnt give a toss about the feelings of women. At his old age he accomplished getting himself a young and pretty wife like Gertrude (pretty Gertrude). and her face as comely as a live dolls this tells us how in those days, women merely existed to look good and pleasing. They were expected to be modest (modest woman), obedient and quiet. All of which terms Gertrude seems to meet. She is also generous and kind which makes us take a liking to her. Rhoda is Jealous of the new young wife. For so many years, she had been trying to in the Farmers love back but by this marriage those hopes had been crushed. This shows that women seemed to be dependent on men. Appearance matters a lot to Farmer Lodge, like it mattered to most men. This is why Gertrudes withered arm bothered her so much- because Lodge saw it as a disfgurement, men think so much of personal appearance. This also reasons why women were the way they were because they were expected to be that way. Rhodas Jealousy and obsession with the innocent Gertrude lead her to believe that she was a witch and caused Gertrude to have the withered arm (such are the extents omen would go for men! ). It also led Gertrude to believe in superstitions. Rhoda left home as she could not bear with the guilt, she and her boy disappeared from the neighbourhood of Holmstoke. Hardys technique has kept us interested and thinking. He doesnt tell us everything straight away. This is also the way he develops the characters. The way he allows us to get to know them is by telling us things indirectly. By the end of the story, readers hate Farmer Lodge from every angle possible. Hardy doesnt have time to beat about the bush but reveals things all in good time. The main female character in the sons veto is Sophy. She is portrayed as a pathetic figure with a regional dialect (l liked ee) who has no independence and is bound to a wheelchair. But, like Gertrude, she is a good person who likes to please people other than herself. When Sophy is moved from her surroundings, she is pitiable. Rhoda also had to move but that was of guilt more than anything else. Rhoda was a very strong sort of woman whilst sophy seems to be a very sensitive person almost like Gertrude. The two characters are rather similar. Both of them had to marry men much elder than themselves and suffered as a result. Sophys main problem is her illiteracy. Hardy critically describes how sophy failed to learn the things she had been taught. Sophys son, Randolph (who is a priest) dislikes his mothers obvious difference very much. As time goes by he is pretty much intolerant. He is selfish and arrogant. All of his humane feelings are removed which contradicts his religious beliefs. This upsets sophy greatly as she so wanted her son to love her, But hes a gentleman, and that -makes it- o how difficult for me! Mrs Twycott, Im afraid? ) was a honest and loyal man. When sophy died (supposedly Randolph killed her which shows the arrogance and pride of the social upper class) we sympathize with Sam. We despise Randolph and out empathy lies with Sophy. Rhoda, Gertrude and Sophy are all female characters who have been portrayed by Hardy in certain ways to prove a point. That point being: women in that era were obviously inferior. They were expected to be a lot of things and were so. But the ending for all of these women is bitter. Rhoda loses her son, Gertrude and Sophy die. By the end of both stories, our hatred is directed at the male characters (i. e. Farmer Lodge and Randolph). Readers feel that those women were in a struggle a struggle to get what they wanted (like Rhoda), or to please their husbands (like Gertrude) or even struggle to be accepted as the way they are. The men got into the way of that which makes us feel greatly annoyed. Hardy, I believe, is trying to highlight the plight of women in his time through his writing by portraying the things exactly the way they are (or Were rather).