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NEW QUESTION: 1
Lascheid Enterprises is an all-equity firm with 175,000 shares outstanding. The company's stock price is currently $80 a share. The company's EBIT is $2,000,000 and is expected to remain constant over time.
The company pays out all of its earning each year--so its earnings per share equals its dividends per share. The firm's tax rate is 30 percent. The company is considering issuing $800,000 worth of bonds and using the proceeds for a stock repurchase. If issued the bonds would have an estimated yield to maturity of
8 percent. The risk-free rate is 5 percent and the market risk premium is also 5 percent. The company's beta is currently 1.0, but its investment banker's estimate that the company's beta would rise to 1.2 if they proceeded with the recapitalization. What would be the company's stock price following the repurchase transaction.
A. $74.67
B. $102.63
C. $70.40
D. $77.14
E. $106.67
Answer: A
Explanation:
Explanation/Reference:
Explanation:
The bonds used in the repurchase will create a new interest expense for the company. This will change net income. Dividends per share will change because net income changes and the number of shares outstanding changes.
New interest expense: $800,000 x 8% = $64,000.
New net income: ($2,000,000 - $64,000)(1 - 0.3) = $1,355,200.
Shares repurchased: $800,000/80 = 10,000 shares.
New shares outstanding: 175,000 - 10,000 = 165,000 shares.
New dividends per share: $1,355,200/165,000 = $8.21.
We must also calculate a new cost of equity: 5% + (5%)1.2 = 11%.
New stock price: $8.21/11% = $74.67.

NEW QUESTION: 2
Ein Rückrufsystem erfordert, dass ein Benutzer mit einer ID und einem Kennwort einen Remote-Server über eine DFÜ-Leitung anruft. Anschließend trennt der Server die Verbindung und:
A. Wählt auf der Grundlage der Benutzer-ID und des Kennworts unter Verwendung einer Telefonnummer, die der Benutzer während dieser Verbindung angegeben hat, zum Benutzergerät zurück.
B. Wählt anhand der Benutzer-ID und des Kennworts unter Verwendung einer Telefonnummer aus der Datenbank zum Benutzergerät zurück.
C. Wartet auf eine erneute Wahlwiederholung vom Benutzercomputer zur Bestätigung und überprüft dann die Benutzer-ID und das Kennwort anhand der Datenbank.
D. Wartet auf eine erneute Wahlwiederholung vom Benutzercomputer zur Bestätigung und überprüft dann die Benutzer-ID und das Kennwort mithilfe der Datenbank des Absenders.
Answer: B
Explanation:
Erläuterung:
Ein Rückrufsystem in einer netzzentrierten Umgebung würde bedeuten, dass ein Benutzer mit einer ID und einem Kennwort einen Remote-Server zuerst über eine Einwählleitung anruft. Anschließend trennt der Server die Verbindung und wählt auf der Grundlage der Benutzer-ID und zum Benutzercomputer zurück Passwort unter Verwendung einer Telefonnummer aus seiner Datenbank. Obwohl der Server von seiner eigenen Datenbank abhängig sein kann, kann er die Authentizität des Wählers nicht kennen, wenn der Benutzer erneut wählt. Der Server kann nicht von der Datenbank des Absenders abhängig sein, da diese manipuliert werden kann.

NEW QUESTION: 3
Which statement is correct regarding the SenderBase functionality?
A. SenderBase uses spam complaints as one of the sources of information to define reputation score of receiver's IP address.
B. ESA sees a high negative score from SenderBase as very unlikely that sender is sending spam.
C. SenderBase uses DNS-based backlist as one of the sources of information to define reputation score of sender's IP address.
D. ESA sees a high posistive score from SenderBase as very likely that sender is sending spam.
E. WSA uses SenderBase information to configure URL filtering policies.
F. ESA uses destination address reputation information from SenderBase to configure mail policies.
Answer: C
Explanation:
Explanation/Reference:
Reference: https://www.cisco.com/c/en/us/support/docs/security/email-security-appliance/118378- technote-esa-00.html