If a court proceeds to confirm a probate sale, the first additional bid must be what percent above the original bid?
a. 5% on the first $10,000, 3% on the remainder
b. 5% on the first $10,000 and any amount on the remainder
c. 10% on the first $10,000, 5% on the remainder
d. 10% on the first $10,000 and any amount on the remainder
Answer: c. 10% on the first $10,000, 5% on the remainder
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Petrus Company has a unique opportunity to invest in a two-year project in Australia. The project is expected to generate 1,000,000 Australian dollars (A$) in the first year and 2,000,000 Australian dollars in the second. Petrus would have to invest $1,500,000 in the project. Petrus has determined that the cost of capital for similar projects is 14%. What is the net present value of this project if the spot rate of the Australian dollar for the two years is forecasted to be $.55 and $.60, respectively?
a. $2,905,817. b. ?$94,183. c. $916,128. d. none of the above
Based on Exhibits A and B, MBG’s current cost of equity capital is closest to:
A. 10.30%. B. 10.80%. C. 12.75%.