题目内容
（请给出正确答案）
A.both Plus Premium on Bonds Payable and minus Discount on Bonds Payable
B.minus Premium on Bonds Payable
C.plus Discount on Bonds Payable
D.Plus Premium on Bonds Payable.
E.minus Discount on Bonds Payable
F.both minus Premium on Bonds Payable and plus Discount on Bonds Payable
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更多“Bond arring value equals Bonds…”相关的问题
Fence Co plans to invest in a project which is different to its existing business operations and has identified a company in the same business area as the project, Hex Co. The equity beta of Hex Co is 1·2 and the company has an equity market value of $54 million. The market value of the debt of Hex Co is $12 million.
The risk-free rate of return is 4% per year and the average return on the stock market is 11% per year. Both companies pay corporation tax at a rate of 20% per year.
Required:
(a) Calculate the current weighted average cost of capital of Fence Co. (7 marks)
(b) Calculate a cost of equity which could be used in appraising the new project. (4 marks)
(c) Explain the difference between systematic and unsystematic risk in relation to portfolio theory and the capital asset pricing model. (6 marks)
(d) Discuss the differences between weak form, semi-strong form. and strong form. capital market efficiency, and discuss the significance of the efficient market hypothesis (EMH) for the financial manager. (8 marks)
Section B – TWO questions ONLY to be attempted
GNT Co is considering an investment in one of two corporate bonds. Both bonds have a par value of $1,000 and pay coupon interest on an annual basis. The market price of the first bond is $1,079？68. Its coupon rate is 6% and it is due to be redeemed at par in five years. The second bond is about to be issued with a coupon rate of 4% and will also be redeemable at par in five years. Both bonds are expected to have the same gross redemption yields (yields to maturity).
GNT Co considers duration of the bond to be a key factor when making decisions on which bond to invest.
Required:
(a) Estimate the Macaulay duration of the two bonds GNT Co is considering for investment. (9 marks)
(b) Discuss how useful duration is as a measure of the sensitivity of a bond price to changes in interest rates. (8 marks)
A bond with an adjustable interest payment is termed ______.
A．a fixed-rate bond
B．a floating-rate bond
C．a blue-chip bond
D．a junk bond
A.$(‘#div’).eq(O)
B.$(‘#div').get(O)
C.$(‘#div:eq(O)’)
D.$(‘#div:get(0)’)
Why did Bond stop in the doorway to the underwear shop？ ()
A．To see who was following him.
B．To look at the man in the fun suit.
C．To avoid the sunshine.
D．To look at the underwear.
A.discount rate
B.contract rate
C.market rate
D.effective rate
