Brett's, Inc is a national distributor of women's apparel. The ...

[RRMR]

Brett's, Inc is a national distributor of women's apparel. The company expects to receive 95,000 checks during
  the coming year totaling 78 million. A large bank has offered to install a lock-box system at a charge of 0.45
  per processed check.
 
  If Brett's, Inc is able to earn 5 percent before tax on additional funds, what is the minimum
  amount of total float days that must be saved to make the system worthwhile? Use a 365-day year.

Question 2

A firm has an expected dividend next year of 1.20 per share, a zero growth rate of dividends, and a required return of 10 percent. The value of a share of the firm's common stock is:
 
  A) 120
  B) 10
  C) 12
  D) 100

[juwms]

Answer to Question 1

0.45 = D  (78 million)(.05)
(95,

Answer to Question 2

C

[RRMR]

TYSM

[amcvicar]

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