Alpha Geek

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    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

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    Polytechnic State University
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Category > Business & Finance Posted 06 Aug 2017 My Price 7.00

Jewel Regal Cars (JRC) must raise $240 million to support operations. To do so, JRC plans to

Jewel Regal Cars (JRC) must raise $240 million to support operations. To do so, JRC plans to issue new bonds. Investment bankers have informed JRC that the flotation costs will be 4 percent of the total amount issued. If the market value of each bond is $1,000, how many bonds must JRC sell to net $240 million after flotation costs? Assume that fractions of bonds cannot be issued.

Answers

Alpha Geek
(8)
Status NEW Posted 06 Aug 2017 01:08 PM My Price 7.00

Flo-----------tat-----------ion----------- co-----------st -----------as -----------% o-----------f i-----------ssu-----------e c-----------ost----------- = -----------4% -----------Mar-----------ket----------- va-----------lue----------- pe-----------r b-----------ond----------- = -----------$10-----------00 -----------Net----------- re-----------ali-----------sat-----------ion----------- pe-----------r b-----------ond----------- af-----------ter----------- fl-----------oat-----------ati-----------on -----------cos-----------t =----------- $1-----------000-----------*(1------------4%-----------) =----------- $9-----------60 -----------Tot-----------al -----------net----------- am-----------oun-----------t

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