Key issues from a software security perspective are whether the implemented algorithm correctly solves the specified problem, whether the machine instructions executed correctly represent the high level algorithm specification,
and whether the manipulation of data values in variables is valid and meaningful.
Indicate whether the statement is true or false.
T
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A firm paid out a dividend of $700,000 and repaid $1,000,000 notes payable (due for 90 days.) The net effect of these transactions on the firm's net working capital is:
A) decrease of $300,000 B) decrease of $1,000,000 C) decrease of $1,700,000 D) decrease of $700,000
Crandal Dockworks is undergoing a major expansion. The expansion will be financed by issuing
new 15-year, $1,000 par, 9% annual coupon bonds. The market price of the bonds is $1,070 each. Crandal's flotation expense on the new bonds will be $50 per bond. Crandal's marginal tax rate is 35%. What is the pre-tax cost of debt for the newly-issued bonds? A) 10.25% B) 8.76% C) 7.49% D) 8.12%