이전 질문 게시판은 새 글 쓰기를 막았습니다. [질문 게시판]을 이용바랍니다.
Date |
2012/04/17 19:25:14 |
Name |
성시경 |
Subject |
재무관리 질문입니다! |
이번 학기 영강으로 재무관리 수강 중인데... 멘붕이 오네요 흑흑 피지알 도와주세요...
a. Draw a graph showing the relation between bond price and yield-to-maturity for two bond: these two bonds are identical except for their
maturity. (e.g. Bond A has 5 years of maturity and Bond B has 30 years of maturity) and explain why the slopes of the two bonds are different.
b. Consider a $1,000 par bond with 10% coupon rate. Interests are paid semiannually. Ms. Smart expects that the market interest rate will
increase in the following years. How would the price of the above bond move in expectation of higher interest rate? Explain.
c. LG has just paid a $1 dividend per share and earnings per share (EPS) is $2. Suppose the firm has a required rate of return on equity of 12%. Expected dividend growth is 10% during the first three years. After the 3rd years, it will grow at the 5% growth rate in perpetuity.
1. What is the current share value of LG?
2. First, decompose the share value you calculated into two parts: the value with NO Growth and Present Value of Growth Opportunities(PVGO). Second, based on the PVGO number, should LG shareholders request the firm to increase dividends?
d. J&J Exporters paid a $1.80 per share annual dividend last month. The company is planning on paying $2.00, $2.50, $2.75, and $3.00 a share
over the next four years, respectively. After that the dividend will be constant at $3.20 per share per year in perpetuity.
What is the market price of this stock if the market rate of return is 13 percent?
재무 고수분들 부탁드립니다 ㅠ.ㅠ 하..
|
통합규정 1.3 이용안내 인용
"Pgr은 '명문화된 삭제규정'이 반드시 필요하지 않은 분을 환영합니다.
법 없이도 사는 사람, 남에게 상처를 주지 않으면서 같이 이야기 나눌 수 있는 분이면 좋겠습니다."
|