Codes of ethics for public relations practitioners have little impact unless they are accepted and applied by their employers
Which two of the following practices is NOT used by public relations firms to encourage ethical practice among their employees?
A. Holding regular training sessions on ethical issues D and
E
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Derek's Dinghies and Rafts (DDR) is the world's largest manufacturer of rowboats and rafts. At the end of the current year, analysts expect DDR's EBIT to be $2M and they expect the same earnings annually in perpetuity
DDR's shareholders require a return of 12.5% and there are 5M common shares outstanding. DDR has debt with a total face value of $5M. The bonds have an annual coupon of 3%, are rated AAA and yield 3%. The CFO of DDR believes that the company is under-levered. To increase the leverage, the CFO proposes to repurchase 1.2M shares at a price of $1.25 per share. The repurchase will be financed by additional borrowing. The corporate tax rate is 40%. What is the value of the company prior to the repurchase, and what is the stock price after the repurchase? A) Value (prior) = $9.6M; Stock price (after) = $1.50 B) Value (prior) = $9.6M; Stock price (after) = $1.14 C) Value (prior) = $11.6M; Stock price (after) = $1.50 D) Value (prior) = $11.6M; Stock price (after) = $1.14 E) Value (prior) = $11.6M; Stock price (after) = $3.21
Which of the following statements concerning put options are correct?
A) The writer of a put profits if the price of the underlying stock rises. B) The writer of a put profits if the price of the underlying stock falls. C) The owner of a put profits if the price of the underlying stock rises. D) Both the owner and writer of a put profit when the price of the underlying stock falls.
For a specific futures option, given d = .813 and u = 1.367, what is the risk neutral probability of an up move in the price of the option?
A) 41.87 % B) 43.54 % C) 47.98 % D) 56.46 %
Airlines do not restrict the size and type of bags that can be checked on a domestic flight
a. True b. False Indicate whether the statement is true or false