The residual theory of dividends implies that if a firm's available retained earnings are in excess of its financing needs, it should distribute the earnings by paying dividends to stockholders

A[n] ________ functions within the executive branch of the federal government, but is not directly connected to an executive department.

a. Independent agency. b. State agency. c. Executive agency. d. Legislative agency.

Nine-month gold futures are trading for $1565 per ounce. The spot price is $1509 per ounce. LIBOR during each of the upcoming 4 quarters is listed as 1.04%, 1.22%, 1.30%, and 1.35%, respectively

Calculate the 9-month lease rate on the futures contract. A) 2.4% B) 2.1% C) 1.3% D) 0.0%