A firm with a total asset turnover that is lower than industry standard but with a current ratio that meets industry standard must have excessive ________.
A) fixed assets
B) inventory
C) accounts receivable
D) debt
Question 2
Tangshan Mining is considering issuing long-term debt. The debt would have a 30 year maturity and a 12 percent coupon rate and make semiannual coupon payments.
In order to sell the issue, the bonds must be underpriced at a discount of 2.5 percent of face value. In addition, the firm would have to pay flotation costs of 2.5 percent of face value. The firm's tax rate is 33 percent. Given this information, the after-tax cost of debt for Tangshan Mining would be ________.
A) 6.38
B) 12.76
C) 4.98
D) 8.48
lower digestive
Muscles of the lower extremity.
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The risk of dying before the age of 65 gets lower as family income gets higher.
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To reverse the direction of operation, the polarity of the current through the motor is reversed.