Pirate Club, Inc. had sales last year of $987,000, costs of $336,000, a depreciation expense...
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Pirate Club, Inc. had sales last year of $987,000, costs of $336,000, a depreciation expense of $45,000, interest expenses of $11,000 and paid taxes at a flat (marginal and average) rate of 34%. If its owner-members received $100,000 in dividends, how much was added to retained earnings?
| $78,100 | ||
| $102,300 | ||
| $292,700 | ||
| cannot determine from information given | ||
| none of the above |
A 20-year AA-rated corporate bond was issued at par ten years ago with an 8% semiannual coupon. Over the past ten years, interest rates have fluctuated, having risen to about 10%, but have recently declined right back to where they were ten years earlier when issued. The company's risk (and therefore credit rating) has not changed. What is the present price of the bond?
| A) $828.41 | ||
| B) $877.11 | ||
| C) $875.38 | ||
| D) $981.95 | ||
| E) $1,000 |
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