Hi! Hoping someone could please help me with the below questions. Thanks :) The following is...
Hi! Hoping someone could please help me with the below questions. Thanks :)
The following is from a Leisure Pty Ltd's 2019 balance sheet:
| Paid Up capital (1 million shares) | $2,000,000 |
| Debentures (9%, mature November 2026) | $3,000,000 |
| Bank Overdraft (permanent source of funds) | $3,000,000 |
- Leisure paid a total of $400,000 in dividends this year. It is expected that dividends ends will grow at 5% per annum, in perpetuity. Ordinary dividends are fully franked.
- Leisure's Market capitalisation is $3,200,000
- Debentures were issues at par in 2016, giving the company $100 of proceed each. The current market value of a debenture is $107. Coupons are paid semi-annually.
- The current bank overdraft rate is 9% per annum, compounding daily.
- The corporate tax rate is 30%, and the franking credit utilisation rate is 40%.
Based on this information, calculate the market value are the after tax effective rate of each item. Show your workings.
Homework Answers
The Future Dividend is $4,20,000/- (400000+5%) and it is divided by 4% (9%-5%), the current market value capitalization comes to $1,05,00,000/-.
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As of
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Notes Payable
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Notes Receivable
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Accounts Receivable
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