In extending an expense item for the current budget year, an often-used and useful approach is to
A)
use last year's figure.
B)
use the average of the last three years.
C)
use last year's figure plus a usual 10% "fudge factor."
D)
adjust last year's figure upwards by this year's expected inflation.
D
Business
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A firm has a single issue of a zero coupon debt that promises to pay $90 in 4 years, and the A0 = $100, r = 4%, ? = 25%, and ? = 0. If the asset has a 2% chance of total default, what is the value of the debt?
A) $67.10 B) $75.19 C) $85.62 D) $90.00
Business