1. Sales for Hanebury Corporation’s just-ended year were $16 million. Sales were $8 million 5 years earlier.
At what rate did sales grow? Round your answer to the nearest whole number.
Suppose someone calculated the sales growth for Hanebury Corporation in part a as follows: “Sales doubled in 5 years. This represents a growth of 100% in 5 years; dividing 100% by 5, we find the growth rate to be 20% per year.” Explain what is wrong with this calculation.
2. The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, an inventory turnover of 6 times, total current assets of $810,000, and cash and marketable securities of $120,000. What were Kretovich’s annual sales and it’s DSO? Assume a 365-day year.
3. What is the value of a perpetuity with an annual payment of $100 and a discount rate of 6%?
4. What is the value of a perpetuity with an annual payment of $50 and a discount rate of 4%?
5. You will receive $1,200 at the end of the next 15 years, assuming a 8% discount rate, what is the present value of the cash flows?
6. You will receive $1,000 at the end of the next 10 years, assuming a 7% discount rate, what is the present value of the cash flows?
7. You put $2,000 in an investment account today which will earn 8% over the next 14 years, what is the future value?
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