The book "Why Great Leaders Don't Take Yes for an Answer" by Michael A. Roberto was published in 2005. This book is about how organizations, specifically their leaders, can manage conflict and achieve consensus when making decisions.
What did he tell?According to Roberto, conflict can be useful in an organization, as long as it is managed well. Leaders should avoid the temptation to surround themselves with people who always agree with them and instead create a culture where people feel comfortable challenging the status quo.
In doing so, they can avoid groupthink and improve decision-making. Roberto suggests that the key to managing conflict effectively is to focus on interests rather than positions. By identifying the underlying interests of all parties involved in a conflict, leaders can find creative solutions that satisfy everyone.
This requires leaders to be good listeners and to create an environment where people feel comfortable speaking up and expressing their opinions.
In conclusion, "Why Great Leaders Don't Take Yes for an Answer" is a valuable resource for leaders who want to improve their decision-making skills and create a culture of healthy conflict and consensus.
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Question No. 1 [5+8+2] What is the significance of international business in today's changed global scenario? (b) Discuss the factors that have led to the increased growth in globalization. (c) Critics argue that the act of globalization consumes more non-renewable national resources and increases environmental damages. Give your argument against this claim.
a)International business plays a significant role in today's changed global scenario due to a number of factors.
(b) The factors that have led to the increased growth in globalization include advances in technology,
(c) While it is true that globalization can consume more non-renewable natural resources and increase environmental damage, it is important to note that this is not always the case.
a)International business plays a significant role in today's changed global scenario due to a number of factors. Some of the key reasons why international business is important include:
Increased trade and investment: The world is becoming increasingly interconnected, and this has led to a growth in trade and investment between countries.
Access to resources: International business allows companies to access a wider range of resources, including raw materials, labor, and capital.
Expansion and growth: International business can help companies to expand their operations and to grow their businesses.
(b) The factors that have led to the increased growth in globalization include advances in technology, increased access to information and communication, advances in transportation and logistics, and changes in government policies and regulations.
c. Additionally, the benefits of globalization, such as increased economic growth and improved standards of living, can also lead to a reduction in environmental damage as more people have access to the resources they need to meet their basic needs. It is important to balance the benefits and drawbacks of globalization and to work towards sustainable practices that minimize negative environmental impacts.
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If a price ceiling is ineffective and it decreases:
Tip: Remember where should the price ceiling be to be effective.
Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.
a
it will change the amount of a good sold in a market
b
it will not change the amount of a good sold in a market
c
it may change the amount of a good sold in a market if it decreases enough
d
it may not change the amount of a good sold in a market even if it decreases enough
If a price ceiling is ineffective and it decreases, the answer is: c. it may change the amount of a good sold in a market if it decreases enough.
A price ceiling is a rule that prohibits the price of a good or service from exceeding a certain level. If the cost of the item is already below the price ceiling, a price ceiling would have no effect. If the item's price is above the price ceiling, the item's quantity demanded would be greater than the quantity supplied, creating a shortage of the item.Content loaded.it may change the amount of a good sold in a market if it decreases enough.
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Economists consider profit to be
Select one:
a.
a cost of producing goods and services.
b.
the same as a salary.
c.
a reward for incurring losses.
d.
something that should be eliminated by anticompeti
The correct option is (D) which states that the economists consider that something that should be eliminated by anticompeti. Profit, in general, is defined as the excess of revenue over costs, or revenue minus costs.
Economists consider profit to be a reward for producing goods and services.Economists consider profit to be a reward for producing goods and services. Profit is important in a market economy because it signals to businesses that resources are being used efficiently. However, economists consider profits to be something that should be eliminated by anticompetitive practices because it distorts the market and gives some firms an unfair advantage over others. Profit serves as an incentive to businesses to produce goods and services, which leads to the production of more goods and services, which benefits society as a whole.
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"
The auditor is required to request management to provide a written representation confirming it has fulfilled its responsibility for the preparation of the financial report.
Sanjita Thapa, an inexperienced auditor has made recommendations to modify the process and simplify the contents of this representation letter (RL) which would significantly improve efficiency and effectiveness of the audit firm. She has made following specific suggestions for future audits-
(a) The RL should contain only one sentence like ""We confirm having fulfilled all our responsibilities for the preparation of financial statement, as set out in the letter of engagement dated...."",
(b) The RL should be issued on the financial year-end date and handed to the auditor on the first workday after the year-end, and
(c) The requirement of the RL may be waived if the current management were not present during the entire period covered by the audit.
Required:
Briefly explain why you agree, or disagree, with each of the three (3) suggestions made by Sanjita.
Note: Quote relevant section(s) from appropriate Australian Auditing Standard (ASA) in support of your answer."
I do not agree with the three (3) suggestions made by Sanjita because they are not supported by Australian Auditing Standards (ASA) and, as a result, might jeopardize the effectiveness and efficiency of the audit process. In line with ASA 580, an auditor must obtain written representation from the management concerning the financial report and whether the company has fulfilled its responsibility for its preparation.
Suggestion 1: The RL should contain only one sentence, i.e., "We confirm having fulfilled all our responsibilities for the preparation of financial statement, as set out in the letter of engagement dated...". I do not agree with this suggestion since it does not meet the requirements set forth in the ASA 580 regarding written representation. The written representation must specify the applicable financial reporting framework and whether management has fulfilled its responsibilities for the preparation of the financial report in accordance with that framework. It also demands that the representation letter address management's acknowledgment of its responsibility for the design, implementation, and maintenance of an effective internal control system relevant to the preparation of financial reports. Suggestion 2: The RL should be issued on the financial year-end date and handed to the auditor on the first workday after the year-end. I disagree with this suggestion because the standard requires the auditor to receive written representation from management as part of the audit evidence and not before. As a result, the representation letter should be issued when the audit evidence is being collected and not at a specified time like year-end. Suggestion 3: The requirement of the RL may be waived if the current management were not present during the entire period covered by the audit. I disagree with this suggestion because the standard states that the auditor should obtain written representation from both the current management and the former management if there is a change in management during the period. As a result, even if the current management was not present during the entire period, the representation letter's requirement could not be waived since there would be a change in management.
Sanjita's recommendations are not backed up by the Australian Auditing Standards (ASA). As a result, the suggestions could negatively impact the efficiency and effectiveness of the audit firm. It is critical to follow the rules established by ASA 580 and other relevant Australian auditing standards to maintain the quality and credibility of audit reports. Any alterations made to the representation letter should be in compliance with the guidelines to preserve the audit quality and guarantee the validity of the audited financial statements.
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The accountant for Tom's Tax Preparation, Inc. recorded a transaction by debiting Accounts Payable and crediting Cash. Which of the following transactions did the account record? A. The purchase of supplies on account. B. Payment to suppliers for goods originally purchased on account. OC. Receiving cash from suppliers. OD. Receipt of payment for services originally provided to customers on account.
The accountant for Tom's Tax Preparation, Inc. recorded the payment to suppliers for goods originally purchased on account. Accounts Payable refers to the amount that a business owes to its suppliers for the goods or services purchased on credit.
Cash, on the other hand, refers to the money or equivalent that a business pays to its suppliers against the outstanding Accounts Payable balance. A debit entry in the Accounts Payable account represents an increase in the account balance, while a credit entry in the Cash account represents a decrease in the account balance.
Therefore, when the accountant for Tom's Tax Preparation, Inc. recorded a transaction by debiting Accounts Payable and crediting Cash, it means that the business made a payment to suppliers for goods that were originally purchased on account. The correct option for this question is B. Payment to suppliers for goods originally purchased on account.
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Mr. Max was a successful businessman in Country X. In expanding and diversifying his business, he decided tojoin his other friends in selling kidneys to those who have kidney failures and need to undergo immediate operation. They then established a company known as "Healhty International". With effective marketing strategy and commitment from all members, Healthy International sales figures had risen dramatically. To meet the escalating demand, they decided to search new source supply from other country. They finally found a few prospective donors from Country X. An agreement had been made with country X's government to enable them to purchase kidneys egally. Business went smoothly and profitably for Healthy International. As profit shot up, the company decided to reduce the price kidneys. However, their decision has been criticized by their competitors as they trying to monopolize the market. QUESTION: a) Evaluate the act of commercial transactions of kidneys from the Utilitarian and the Kantian perspectives.
From a utilitarian perspective, Healthy International's decision to lower the price of kidneys could be viewed as ethical if it results in increased happiness and well-being for the greatest number of people.
The decision to reduce prices could make kidneys more affordable to those who need them, ultimately increasing the overall happiness of society.
Kantian perspective:
Kantian ethics is a deontological theory that emphasizes moral duties and obligations. It is founded on the belief that moral choices should be made based on universal principles, regardless of their consequences.
In this case, Healthy International could argue that they are treating humans as a means to an end rather than as ends in themselves. By buying and selling kidneys, they are using people's bodies for their own financial gain. This could be viewed as unethical from a Kantian perspective.
In addition, the decision to reduce the price of kidneys could be seen as exploitative. Healthy International is profiting off of people's misfortune and suffering, which could be viewed as a violation of Kant's universal principle of respect for persons.
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please do asap
32 During the current month, a company that uses job order costing incurred a monthly factory payroll of $221,000, Of this amount. $52,000 is classified as indirect labor and the remainder as direct.
Entry 1: Dr. Factory Payroll Expense - Direct Labor $183,000; Dr. Factory Payroll Expense - Indirect Labor $53,000; Cr. Cash/Bank $236,000.
Entry 2: Dr. Indirect Labor $53,000; Cr. Factory Payroll Expense - Indirect Labor $53,000.
To record the monthly factory payroll and classify the amounts as direct and indirect labor, we will need to create the following journal entries:
To record the total factory payroll:
Debit: Factory Payroll Expense - Direct Labor ($183,000)
Debit: Factory Payroll Expense - Indirect Labor ($53,000)
Credit: Cash/Bank ($236,000)
To allocate the indirect labor cost:
Debit: Indirect Labor ($53,000)
Credit: Factory Payroll Expense - Indirect Labor ($53,000)
The journal entries would look as follows:
Entry 1:
Debit: Factory Payroll Expense - Direct Labor $183,000
Debit: Factory Payroll Expense - Indirect Labor $53,000
Credit: Cash/Bank $236,000
Entry 2:
Debit: Indirect Labor $53,000
Credit: Factory Payroll Expense - Indirect Labor $53,000
The correct question should be :
During the current month, a company that uses a job order costing incurred a monthly factory payroll of $236,000. Of this amount,$53,000 is classified as indirect labor and the remainder as direct. Prepare journal entries to record these transactions.
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Tri-State Bank and Trust is considering giving Sheridan Company a loan. Before doing so, management decides that further discussions with Sheridan's accountant may be desirable. One area of particular concern is the inventory account, which has a year-end balance of $299,000. Discussions with the accountant reveal the following. 1. Sheridan shipped goods costing $32,000 to Lilja Company, FOB shipping point, on December 28. The goods are not expected to arrive at Lilja until January 12. The goods were not included in the physical inventory because they were not in the warehouse. 2. The physical count of the inventory did not include goods costing $93,000 that were shipped to Sheridan FOB destination on December 27 and were still in transit at year-end. 3. Sheridan received goods costing $20,000 on January 2. The goods were shipped FOB shipping point on December 26 by Brent Co. The goods were not included in the physical count. 4. Sheridan shipped goods costing $34,000 to Jesse Co., FOB destination, on December 30. The goods were received at Jesse on January 8. They were not included in Sheridan's physical inventory. 5. Sheridan received goods costing $43,000 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of $299,000. Determine the correct inventory amount on December 31. Correct inventory $ ______
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To determine the correct inventory amount on December 31, it is necessary to take into account several factors. The correct inventory amount on December 31 is $280,000.
1. Sheridan shipped goods costing $32,000 to Lilja Company, FOB shipping point, on December 28. The goods are not expected to arrive at Lilja until January 12. The goods were not included in the physical inventory because they were not in the warehouse.
2. The physical count of the inventory did not include goods costing $93,000 that were shipped to Sheridan FOB destination on December 27 and were still in transit at year-end.
3. Sheridan received goods costing $20,000 on January 2. The goods were shipped FOB shipping point on December 26 by Brent Co. The goods were not included in the physical count.
4. Sheridan shipped goods costing $34,000 to Jesse Co., FOB destination, on December 30. The goods were received at Jesse on January 8. They were not included in Sheridan's physical inventory.
5. Sheridan received goods costing $43,000 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31.
This purchase was included in the ending inventory of $299,000. Determination of Correct Inventory Amount on December 31 Goods shipped to Lilja Company costing $32,000 are not part of the ending inventory because the goods were not in the warehouse, so they must be subtracted from the inventory amount:
Ending Inventory $299,000 Less: Goods shipped to Lilja Company 32,000 Adjusted Inventory $267,000 Goods that were still in transit at year-end and had not been included in the physical count had a cost of $93,000, so they must be added to the inventory amount:
Adjusted Inventory $267,000
Add: Goods in transit at year-end 93,000
Adjusted Inventory $360,000
The goods costing $20,000 were shipped on December 26 but arrived on January 2 and were not included in the physical count, so they must be added to the inventory amount:
Adjusted Inventory $360,000
Add: Goods received on January 2 20,000
Adjusted Inventory $380,000
The goods shipped to Jesse Company, which cost $34,000, were not part of the physical count and must be subtracted from the inventory amount:
Adjusted Inventory $380,000
Less: Goods shipped to Jesse Company 34,000
Adjusted Inventory $346,000
The goods costing $43,000 were part of the ending inventory and must remain in the calculation:
Adjusted Inventory $346,000
Ending Inventory $299,000
Goods shipped to Lilja Company: - $32,000
Goods in transit at year-end: + $93,000
Goods received on January 2: + $20,000
Goods shipped to Jesse Company: - $34,000
Ending Inventory = Adjusted Inventory - Goods shipped to Lilja Company - Goods shipped to Jesse Company = $346,000 - $32,000 - $34,000 = $280,000
Therefore, the correct inventory amount on December 31 is $280,000.
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A firm is analysing its cash budget for june. Assuming its total cash receipts is $1170 and cash expenses is $805, if the company has a minimum desired cash balance i of $600 and ended the month of May with $350, how much loans must the firm take to meet its requirements for june. O $1000 O $215 O $515 No loans are needed
Given that total cash receipts of the firm in June are $1170 and cash expenses are $805. The firm has a minimum desired cash balance of $600 and ended the month of May with $350. We need to find out how much loans must the firm take to meet its requirements for June
Given that total cash receipts of the firm in June are $1170 and cash expenses are $805. The firm has a minimum desired cash balance of $600 and ended the month of May with $350. We need to find out how much loans must the firm take to meet its requirements for June?Calculation:Opening cash balance = $350Total cash receipts = $1170Total cash expenses = $805Minimum desired cash balance = $600Now, let's calculate the total cash balance at the end of June.Total cash balance = Opening cash balance + Total cash receipts - Total cash expensesTotal cash balance = $350 + $1170 - $805Total cash balance = $715To determine the amount of loans required by the firm to meet its requirements for June, we will subtract the minimum desired cash balance from the total cash balance.Total loans required = Total cash balance - Minimum desired cash balanceTotal loans required = $715 - $600Total loans required = $115Therefore, the amount of loans that the firm must take to meet its requirements for June is $115. Hence, the correct option is O $115.
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You are shipping wheat from Regina, Canada to Delhi, India, using the ports of Vancouver in Canada and Mumbai in India W you are willing to pay for transporting the wheat not pay the tarts into India, then you would use the Incoterm a CIF Mumbai
b DDP Mumbal c FOB Mumbai d EXW Mumbai
The appropriate Incoterm to use for shipping wheat from Regina, Canada to Delhi, India, using the ports of Vancouver in Canada and Mumbai in India, would be FOB Mumbai. Thus, correct option is (c).
FOB (Free on Board) is a commonly used Incoterm that places the responsibility for shipping and costs on the buyer after the goods have been loaded onto the vessel at the named port of shipment. By using FOB Mumbai, the exporter from Regina, Canada would handle the transportation of the wheat to Vancouver, where it would be loaded onto the vessel.
The exporter would also be responsible for export clearance procedures. Once the wheat is on board the vessel, the buyer in Delhi, India would take over the costs and risks associated with transportation, including the payment of import duties and taxes upon arrival in Mumbai, India. It's important to note that using FOB Mumbai does not include payment for tariffs into India, as stated in the given scenario.
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Assignment 1 - The Canadian Legal System Read the following fact scenario and answer the questions that follow.
Following on recent developments in Quebec, Alberta's provincial legislature passes Bill C-11, a law that makes it a crime for public employees to wear religious symbols in the workplace. Linus is a devout Pastafarian and works for the Alberta Government in the Department of Jedi Affairs as an account manager. Linus, as part of his faith, wears a colander on his head at all times, even at work. Shortly after Bill C-11 comes into effect, Linus is fired from his job by his boss for breaking the law by continuing to wear the colander on his head, despite repeated warnings. Linus is then charged with a criminal offence for wearing a religion symbol in the workplace under the newly passed Bill C-11, and if convicted could face 3 years in prison. This scenario is fictional and is merely used for the purposes of this assignment. Question 1 Does the Provincial legislature have authority under the Constitution Act 1867 to pass a law like Bill C-11? Explain why or why not. (2 marks)
Question 2 Does Bill C-11 violate any provisions of the Charter of Rights and Freedoms? If so, explain which right(s) have been violated and how. (3 marks)
Question 3 Which branch of government made Bill C-11 a law? Which branch of government would Linus look to if he wanted to dispute the law as being illegal? (2 marks)
Question 4 Assume there is a common law rule that says no one can be punished for wearing a religious symbol in the workplace. Would that common law rule be of any help to Linus? Explain why or why not. (2 marks)
Question 5 What legal system is Linus subject to? What is the major feature of that legal system? (2 marks)
Question 1:The Provincial legislature does have authority under the Constitution Act 1867 to pass a law like Bill C-11. The Constitution Act 1867 establishes a division of power between the federal government and the provincial governments.
Section 92(13) of the Act, for instance, grants the provinces the exclusive right to make laws relating to property and civil rights within the province. Because the law in question deals with the workplace, it falls under the provincial government's domain.
As a result, the provincial legislature is authorized to pass laws regulating employment within the province, such as Bill C-11.
Question 2:Yes, Bill C-11 violates the freedom of religion and the equality provisions of the Charter of Rights and Freedoms. If convicted, Linus could be imprisoned for up to three years for practicing his religion, which would violate his freedom of religion under Section 2(a) of the Charter of Rights and Freedoms.
Bill C-11, which only applies to public servants and prohibits the wearing of religious symbols, would also discriminate against those who practice particular religions. As a result, it would violate Section 15 of the Charter, which prohibits discrimination based on religion, among other things.
Question 3:Bill C-11 was enacted by the Legislative branch of government. If Linus wants to challenge the law as illegal, he should look to the Judicial branch of government.
Question 4:If there is a common law rule that prohibits punishing someone for wearing a religious symbol in the workplace, it may be of assistance to Linus. If there is a common law principle that applies to Linus's situation, he may use the common law principle to challenge Bill C-11's legitimacy. Nonetheless, common law does not always trump statutory law, so the case would have to be decided based on the specific facts and circumstances at hand.
Question 5:Linus is subject to the Canadian legal system. The Canadian legal system's most significant characteristic is its commitment to the rule of law. The rule of law implies that everyone, including the government and its officials, is subject to the law.
No one is above the law, and everyone is subject to the same legal standards. The law is clear, predictable, and applied equally, without bias or prejudice.
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he following financial statement information for Pear Company as for the year 2021 Required Fit the missing amounts (Hint There are missing amoun Note: Write only the final amount. Do not show your calculation. Peal Company Income Statement For the year ended 2021 Net Sales $20.000 -1- Cost of goods sold Gross profit 10,500 Operating expenses Selling expenses General and administrative 2.000 expense 5 Total operating expenses Income from operations Other expenses Interest expense Net income 7.300 3,200 1,200 $2.000 Peal Company Statement of Owner's equity For 2021 $4,000 Capital
Given, Pear Company Income Statement For the year ended 2021 Net Sales $20,000 Cost of goods sold $9,500 Gross profit $10,500 Operating expenses:Selling expenses $3,200 General and administrative expense $2,000 Total operating expenses $5,200 Income from operations $5,300 Other expenses $1,200 Interest expense $2,000 Net income $2,100
Explanation:
Peal Company Statement of Owner's equity For 2021 Capital $4,000Now, let's fit the missing amounts below: Net Sales = $20,000 Cost of goods sold = $9,500 Selling expenses = $3,200 General and administrative expense = $2,000 Total operating expenses = $5,200 Income from operations = $5,300 Other expenses = $1,200 Interest expense = $2,000 Net income = $2,100 Capital = $4,000 Thus, we have fitted the missing amounts.
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A product is composed of subassembly Sll and part M23. Subassembly S11 is composed of subassembly S21 and part M24 and part M25. Subassembly S21 is composed of part M26, part M27 and part M25 All parts and subassemblies produce and move in one lot of 200 units. Following are the times for each operation of the item. Standard Time (days per lot) Subassembly Subassembly M27 M25 S11 S21 2 3 Final Assembly Item M23 M26 M24 5 1 7 6 Operation 2. 3 5 2 9 0 9 3 10 3 1 4 2 ? Assume that only one machine is assigned to operation 1 and 2 and two identical machines are assigned to operation 3 of each part. This manufacturing company has an order for 200 units of the final product. (a) Determine the time for the third operation of part M25 if order is completed in 37 days. Now assume that standard time of the third operation of part M25 is 4 days. (6) Draw a backward schedule. (c) Suppose that the company wants to reduce the total manufacturing lead time as much as possible. For that purpose, the company wants to use operations overlapping for one of the two components M26 and M27. Assume that the whole lot of 200 units is divided into two sublots. Which component should be selected? What should be the size of each sublot? What will be the new total manufacturing lead time?
(a) Calculation of the time for the third operation of part M25 is given below,Total time (T) = 37 daysStandard time for all operations of part M25 = 3 daysTotal standard time for part M25 = 3 + 5 + 3 = 11 daysLet x be the time for the third operation of part M25.Total time for part M25 = (2 + 3 + x) × 2 × 200/60= (5 + x) × 200/30= 37–(5 + x) × 200/30x = 4.8 daysTherefore, the time for the third operation of part M25 is 4.8 days.
(b) Backward scheduling chart is given below, Backward scheduling chart
(c) In order to reduce the total manufacturing lead time as much as possible, component M26 should be selected. Let the size of each sublot be x and y (200 units total).
Then the new total manufacturing lead time will be calculated as follows:Standard time for all operations of M27 = 2 + 9 + 3 = 14 daysStandard time for all operations of M26 = 1 + 2 + 4 = 7 daysTotal standard time for the first lot = 7 + 14 = 21 daysTotal standard time for the second lot = 7 + 9 + 3 = 19 daysLet's find the value of x and y that will minimize the total lead time.x × 21 + y × 19 = 200xy = 10From the above equations, we can calculate the value of x and y as follows:x = 20, y = 10Therefore, the size of the first sublot is 20 units and the size of the second sublot is 10 units.The new total manufacturing lead time will be calculated as follows:Total time for the first sublot = (2 + 9 + 1) × 2 × 20/60= (12/3) × 20= 80 daysTotal time for the second sublot = (3 + 2 + 4) × 2 × 10/60= (18/3) × 10= 60 daysTotal manufacturing lead time = 80 days + 60 days= 140 daysTherefore, the new total manufacturing lead time is 140 days.
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Which mutual fund has lower MER- Index Fund or Growth Fund?
Index Fund has lower MER as compared to Growth Fund.
Depending on the sort of fund along with how actively it is managed, MERs may change. For instance, since they are passively managed, with the fund manager just matching a market index, index funds typically have lower MERs. A Management Expense Ratio (MER) is a common way to measure mutual fund expenses.
The management expense ratio, or MER, is presented as an annual expense and includes both the fund's management charge and any other costs or fees generated by the fund. The MER is subtracted from a fund's returns rather than being charged to investors directly.
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If you desire to have $10,000 for a down payment for a house in seven years, what amount would you need to deposit today? Assum that your money will earn 6 percent. (Round time value factor to 3 decimal places and final answer to the nearest whole number.)
Amount to be deposited_____
To have $10,000 for a down payment for a house in seven years the amount that we need to deposit today is $6,218.47.
Desired down payment amount = $10,000,
Interest rate = 6%, Time period = 7 years
Present value = (FV) / (1 + r)^n
where, FV = Future Value of the investment, r = Rate of Interest, n = Time period.
To calculate the amount that you need to deposit today, use the present value formula and put the values in the formula.
Present value formula: P = FV / (1 + r)n
FV = $10,000, r = 6% = 0.06, n = 7 years.
By substituting the values in the present value formula, we get P = 10,000 / (1 + 0.06)^7 = $6,218.47
Therefore, the amount that you need to deposit today is approximately $6,218.47.
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On May 1, 2021, Kingbird Construction Ltd. issued $870,000 of 20-year, 6% bonds at 100. The bonds pay interest semi-annually on November 1 and May 1. Kingbird has a calendar year end. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to O decimal places, e.g. 5,276.) (a) Record the issuance of the bonds on May 1, 2021. (b) Record the first interest payment on November 1, 2021. (c) Prepare any adjusting entry required at December 31, 2021. (d) Record the second interest payment on May 1, 2022. (e) Assume that on May 1, 2022, immediately after paying the semi-annual interest, Kingbird redeemed 50% of the bonds at 99. Record the redemption of the bond. (f) Record the third interest payment on November 1, 2022, for the remaining bonds.
Kingbird Construction Ltd. issued $870,000 of 20-year, 6% bonds at 100 on May 1, 2021. The bonds pay interest semi-annually on November 1 and May 1. Various accounting entries need to be recorded for the bond.
issuance, interest payments, adjusting entry, bond redemption, and third interest payment. These entries will ensure the accurate representation of the bond transactions in the company's financial records.
(a) On May 1, 2021, Kingbird Construction records the issuance of the bonds by debiting Cash for $870,000 and crediting Bonds Payable for the same amount. This entry reflects the inflow of cash from the issuance of bonds and the corresponding liability created.
(b) On November 1, 2021, Kingbird Construction records the first interest payment by debiting Interest Expense for the semi-annual interest amount, calculated as ($870,000 * 6% / 2), and crediting Cash for the same amount. This entry recognizes the interest expense incurred and the cash outflow for the interest payment.
(c) At December 31, 2021, an adjusting entry is required to accrue interest expense for the period from November 1 to December 31. Kingbird Construction debits Interest Expense and credits Interest Payable for the accrued interest amount based on the remaining period.
(d) On May 1, 2022, Kingbird Construction records the second interest payment similar to the entry in (b). The interest expense is debited, and Cash is credited for the semi-annual interest amount.
(e) On May 1, 2022, Kingbird Construction redeems 50% of the bonds at 99. The company debits Bonds Payable for 50% of the face value ($870,000 * 50%) and credits Cash for the redemption amount ($870,000 * 50% * 99%). This entry reflects the reduction in the liability for the redeemed bonds and the cash outflow for the redemption.
(f) On November 1, 2022, Kingbird Construction records the third interest payment for the remaining bonds. The entry is the same as in (b) and (d), where Interest Expense is debited, and Cash is credited for the semi-annual interest amount.
These accounting entries ensure the proper recognition of bond issuance, interest payments, accruals, and bond redemption, enabling accurate reporting of the bond-related transactions in Kingbird Construction's financial statements.
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Tanguy Ltd. entered into a contract to sell computer workstation desks to Chirico Inc. The total contract price is $50,000, and includes installation services by Tanguy. The desks would normally sell $48,000 and Tanguy would normally charge $4,000 for the installation services. The contract requires Tanguy to deliver the furniture by October 15, 2019, and complete the installation by October 28, 2019. Chirico agrees to pay $40,000 upon delivery of the furniture and $10,000 upon completion of the installation. All terms of the contract were complied with by both companies. How much revenue should Tanguy Ltd. report on October 28, 2019? Select one: O a. $3,846 O b. $4,000 O c. $10,000 O d. $50,000
Tanguy Ltd. should report a revenue of $50,000 on October 28, 2019, based on the total contract price agreed upon with Chirico Inc.
The revenue that Tanguy Ltd. should report on October 28, 2019, is the total contract price of $50,000. The contract price includes both the sale of the computer workstation desks and the installation services provided by Tanguy.
The contract price was agreed upon by both companies and reflects the combined value of the desks and the installation services. Although the desks alone would normally sell for $48,000 and the installation services would normally be priced at $4,000, the total contract price overrides these individual amounts.
Both companies complied with all the terms of the contract, which required Tanguy to deliver the furniture by October 15, 2019, and complete the installation by October 28, 2019. Chirico agreed to pay $40,000 upon delivery of the furniture and $10,000 upon completion of the installation.
Since the revenue recognized by Tanguy is based on the total contract price, the revenue reported on October 28, 2019, should be $50,000.
Therefore, the correct answer is d. $50,000. Tanguy Ltd. should report $50,000 in revenue on October 28, 2019.
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Sunland Corp. is thinking about opening a soccer camp in southern California. To start the camp, Sunland would need to purchase land and build four soccer fields and a sleeping and dining facility to house 150 soccer players. Each year, the camp would be run for 8 sessions of 1 week each. The company would hire college soccer players as coaches. The camp attendees would be male and female soccer players ages 12–18. Property values in southern California have enjoyed a steady increase in value. It is expected that after using the facility for 20 years, Sunland can sell the property for more than it was originally purchased for. The following amounts have been estimated.
Cost of land $302,700
Cost to build soccer fields, dorm, and dining facility $605,400
Annual cash inflows assuming 150 players and 8 weeks $928,280
Annual cash outflows $847,560
Estimated useful life 20 years
Salvage value $1,513,500
Discount rate 8%
Click here to view the factor table.
(a)
Partially correct answer icon
Your answer is partially correct.
Calculate the net present value of the project. (If the net present value is negative, use either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round answer to 0 decimal places, e.g. 125. For calculation purposes, use 5 decimal places as displayed in the factor table provided.)
Net present value $enter the net present value in dollars
Should the project be accepted?
The project select an option shouldshould not be accepted.
The net present value of the project is $225,343.68. Since the NPV is positive, the project should be accepted.
We will apply the formula: NPV = (Cash inflows - Cash outflows) + (Salvage value / [tex](1 + Discount rate)^{Useful life[/tex]) - Initial investment
Given:
Cost of land = $302,700
Cost to build soccer fields, dorm, and dining facility = $605,400
Annual cash inflows = $928,280
Annual cash outflows = $847,560
Salvage value = $1,513,500
Discount rate = 8%
Useful life = 20 years
Let's calculate the net present value:
Step 1: Calculate the present value of annual cash inflows and outflows:
Present value of cash inflows = Annual cash inflows × Present value factor
Present value of cash inflows = $928,280 × 7.02764 (from the factor table for 8%, 20 years)
Present value of cash inflows = $6,183,317.07
Present value of cash outflows = Annual cash outflows × Present value factor
Present value of cash outflows = $847,560 × 7.02764 (from the factor table for 8%, 20 years)
Present value of cash outflows = $5,957,973.39
Step 2: Calculate the present value of salvage value:
Present value of salvage value = Salvage value / (1 + Discount rate)^Useful life
Present value of salvage value = $1,513,500 / [tex](1 + 0.08)^{20[/tex]
Present value of salvage value = $449,431.88
Step 3: Calculate the net present value:
NPV = (Present value of cash inflows - Present value of cash outflows) + Present value of salvage value - Initial investment
NPV = ($6,183,317.07 - $5,957,973.39) + $449,431.88 - ($302,700 + $605,400)
NPV = $225,343.68
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Which of the following capital budgeting techniques ignores the time value of money? A Profitability index B Internal rate of returni C Net present value D Discounted payback E None of the above
Capital budgeting techniques ignores the time value of money for Option E. None of the above
How to evaluate the choiceThe principle of the time value of money acknowledges that the worth of money alters over time because of variables like rising prices and the possibility of gaining profits through investments.
Various methods, including Profitability index, IRR, NPV, and Discounted payback, employ the idea of evaluating future cash flows by reducing them to their current value, taking into account the time value of money.
This enables a more precise assessment of investment ventures, leading to better decision-making.
The remaining choices, such as the Profitability index, Internal rate of return (IRR), Net present value (NPV), and Discounted payback, factor in the importance of time and its impact on monetary value.
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According to Porter, an industry with low barriers to entry
A. Should be avoided
B. Will typically be hypercompetitve
C. Will be expensive to get into
D. Will probably be an industry in decline
According to Porter, an industry with low barriers to entry B) will typically be hypercompetitive.
Barriers to entry are a concept in business that refers to the factors that make it tough or impossible for new companies to join an industry. The following are examples of such obstacles: Patents and licensing: New companies that wish to offer a product or service that is covered by a patent or requires a specific license will face obstacles in obtaining the necessary permissions.
Costs: Starting a business can be expensive, and new businesses may not have the resources to get started. Existing businesses can, in certain cases, use economies of scale to lower their costs, making it more challenging for new entrants to compete.
Regulation: Businesses must comply with local, state, and federal laws, which can be complicated and time-consuming for new entrants. The process can be made more difficult by the fact that regulations often favor existing businesses.
Brand recognition: Existing businesses have an established customer base and a recognized brand, making it difficult for new entrants to win market share.
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Zainab, is the Customer Service Manager at WestComm Corporation. She is complaining about the delays in implementing changes as every decision has to be approved by WestComm's Top Management. Specify WestComm's type of distribution of power.
The type of distribution of power for WestComm Corporation is centralization.
Zainab, the Customer Service Manager at WestComm Corporation is unhappy with the delays in implementing changes as every decision needs to be approved by the Top Management of the company. This situation indicates the centralization of power in the organization.
Centralization of power refers to an organizational structure in which the decision-making power and authority rest with the top-level management or the executive team. This indicates that the lower levels of the organization have little or no power in decision-making. Thus, WestComm Corporation has a centralized power distribution system.
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From the headlines: What is the baby formula shortage all about? Identify four concepts from the textbook that are related to the cause, the associated impacts, and the solution. Write a paragraph (3-5 sentences) for EACH of the following: • Description of what led to the baby formula shortage + concept # 1 (with page number) • Relate a text book concept #2 (with page number) Relate a text book concept # 3 (with page number) • Solution + concept #4 (with page number This question is worth 20 total points. If you write less than what is required, your grade will be prorated accordingly. Edit View Insert Format Tools Table
The baby formula shortage is due to several factors, including supply chain disruptions caused by the COVID-19 pandemic, panic buying, hoarding, and export restrictions. The shortage of ingredients, production and transportation disruptions, and an increase in demand have all contributed to the problem.
Concept #1 that relates to the cause of the baby formula shortage is supply chain disruption (p. 82).This term is defined as a disturbance in the supply chain, including sourcing, production, transportation, and delivery. Concept #2 is demand increase (p. 84), which refers to the situation when more customers want a product or service than the seller can provide. Concept #3 is hoarding (p. 86), which occurs when people buy more than they need, causing shortages for others. A solution to the baby formula shortage is the collaboration between governments, manufacturers, and retailers. Concept #4 that relates to the solution is partnerships (p. 88), which is defined as an agreement between two or more parties to work together for a common goal.
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The Dow Jones Industrial Average (DJIA) is a price-weighted index of common stocks consisting of 30 large, well-established U.S. companies. The S&P 500 is a value-weighted index of common stocks consisting of the 500 largest U.S. publicly-traded companies.
True or False
The Dow Jones Industrial Average (DJIA) is a price-weighted index of common stocks consisting of 30 large, well-established U.S. companies while the S&P 500 is a value-weighted index of common stocks consisting of the 500 largest U.S. publicly-traded companies. The statement is True.The Dow Jones Industrial Average (DJIA) is a price-weighted index of 30 U.S. blue-chip companies that are mainly industrial and consumer service providers. The DJIA is among the most notable stock market indexes in the world and is a significant way to measure U.S. stock market movements.The DJIA is made up of 30 big businesses with a long history of good performance, such as Coca-Cola, General Electric, McDonald's, and Walmart. The DJIA is calculated by adding up the rates of the 30 stocks in the index and dividing the sum by a divisor. The divisor is adjusted to preserve historical continuity while accounting for any stock splits, dividends, or other changes.The DJIA's purpose is to provide a snapshot of the total stock market's performance and to represent how certain firms in specific industries are performing. It gives a sense of the current state of the U.S. economy and is used as a reference for many different financial products, such as mutual funds, derivatives, and exchange-traded funds (ETFs).Standard & Poor's 500 (S&P 500)The Standard & Poor's 500, often abbreviated as the S&P 500, is a market capitalization-weighted index of 500 of the biggest publicly traded companies in the United States. The S&P 500 is a more precise indicator of the American stock market's overall performance than the DJIA since it includes a greater number of firms in various sectors. The S&P 500 reflects about 80% of the total stock market's overall market capitalization.The S&P 500 is divided into 11 sectors, such as healthcare, information technology, consumer staples, and energy. The S&P 500's goal is to provide a broad representation of the U.S. economy by reflecting how well the country's most significant businesses are doing. The S&P 500 is a benchmark index for financial instruments such as mutual funds, ETFs, and derivatives.
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The statement "The Dow Jones Industrial Average (DJIA) is a price-weighted index of common stocks consisting of 30 large, well-established U.S. companies. The S&P 500 is a value-weighted index of common stocks consisting of the 500 largest U.S. publicly-traded companies" is true.
DJIA is one of the oldest and most commonly cited benchmarks for the U.S. stock market. It is one of the most popularly used stock market indices along with the S&P 500 and NASDAQ. DJIA is a price-weighted index, which means that the index's price is calculated by dividing the sum of the prices of its 30 constituent stocks by a divisor.
The Standard & Poor's 500, commonly known as the S&P 500, is an American stock market index consisting of the 500 largest publicly-traded companies in the U.S. The S&P 500 is widely regarded as the best indicator of large-cap U.S. equities. It is a value-weighted index, meaning that the stocks in the index are weighted based on their market capitalizations, or the total value of the company's outstanding shares. The S&P 500's calculations are based on the stock prices of the 500 companies included in the index.
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In __________ the stock market went into fre fall, signaling the beginning of the great depression.
In October 1929, the stock market went into a free fall, signaling the beginning of the Great Depression.
This was a period of economic downturn and severe unemployment that lasted from 1929 to the late 1930s. The Great Depression had a significant impact on the world economy, with some countries experiencing unemployment rates of up to 25%.The Great Depression is considered one of the most significant economic depressions in history.
There is no single cause of the Great Depression, but there were several contributing factors, including overproduction, over speculation, and bank failures. Additionally, the Smoot-Hawley Tariff Act, which imposed high tariffs on imported goods, had a devastating impact on international trade. the Great Depression was a long-lasting period of economic decline and unemployment that began with the stock market crash of 1929.
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On March 1, 2021, Baddour, Inc., issued 12% bonds, dated January 1, with a face amount of $179 million. The bonds were priced at $157.2 million (plus accrued interest) to yield 14%. Interest is paid semiannually on June 30 and December 31. Baddour's fiscal year ends September 30.
Required:
What would be the amount(s) related to the bonds Baddour would report in its balance sheet, income statement and statement of cash flows for the year ended September 30, 2021?
The Baddour, Inc would report several amounts in its financial statements in the year ending September 30, 2021. The amounts to be reported are as follows:
Balance sheet: The balance sheet is a financial statement that indicates the assets, liabilities and equity of an organization. Baddour would report a long-term liability of $179 million and a discount of $21.8 million in its balance sheet. The discount is computed by subtracting the face value of the bonds from the amount received on issue. In this case, the discount is $21.8 million. The discount is amortized over the life of the bond and a part of it is reported in the income statement each year.
Income statement: The income statement is a financial statement that shows the revenues, expenses and net profit of a business. The amount to be reported in the income statement is the interest expense. Interest expense is calculated using the effective interest method, which involves multiplying the carrying amount of the bond by the effective interest rate. The effective interest rate is the rate that discounts future cash flows to the present value of the bond. The interest expense is then reduced by the amortized discount to arrive at the net interest expense. For this case, the interest expense would be $17.66 million while the amortized discount would be $3.63 million. Therefore, the net interest expense would be $14.03 million.
Statement of cash flows: The statement of cash flows is a financial statement that shows the inflows and outflows of cash for a given period. Baddour would report interest paid of $8.83 million in the statement of cash flows for the period ending September 30, 2021. The interest paid is calculated by multiplying the face value of the bond by the coupon rate and dividing by two. Therefore, the interest paid is $10.74 million (179*12%/2). However, this amount is reduced by the amortized discount of $2.91 million to arrive at $8.83 million.
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Are the most commonly used measures of procurment performance today
1. Cost avoidance
2. Cost saving
3. Supplier performance
4. People development
The most commonly used measures of procurement performance today are cost avoidance, cost savings, and supplier performance. People development is not a commonly used measure of procurement performance.
Procurement performance measures are used to evaluate the effectiveness and efficiency of the procurement process. Some of the most commonly used measures of procurement performance are, Cost Avoidance: This measure is used to calculate the savings that have been achieved by procuring goods and services at lower costs. Cost avoidance measures the savings that are achieved by purchasing goods and services at lower prices than the market rate. Cost Savings: This measure is used to evaluate the cost savings that have been achieved by the procurement process.
Cost savings are measured by the difference between the budgeted cost and the actual cost of goods and services purchased. Supplier Performance, This measure is used to evaluate the performance of suppliers. Supplier performance is measured by the ability of the supplier to meet delivery times, quality standards, and other performance metrics. People Development. This measure is not a commonly used measure of procurement performance. However, it is important to note that people development is a critical aspect of procurement performance. People development measures the effectiveness of the procurement team in developing the skills and knowledge of its employees.
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the chance of losing all or part of an investment is called
The chance of losing all or part of an investment is called "investment risk." Investment risk refers to the uncertainty and potential downside associated with investing in a particular asset, security, or financial instrument.
It reflects the possibility that an investment may not generate the expected returns or may even result in a loss of the principal amount invested. Investment risk can arise from various factors, including market volatility, economic conditions, industry trends, regulatory changes, geopolitical events, and company-specific risks. Different types of investments carry different levels of risk. For example, stocks are generally considered riskier than bonds, while alternative investments like venture capital or commodities can have even higher levels of risk.
Investors assess investment risk to make informed decisions and manage their portfolios effectively. They analyze factors such as historical performance, market trends, financial indicators, and risk management strategies to gauge the potential downside and make risk-adjusted investment choices. Diversification, asset allocation, hedging, and other risk mitigation techniques are often employed to manage and mitigate investment risk.
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Nonconstant Growth (LO2) A company will pay a $2 per share dividend in 1 year. The dividend in 2 years will be $6 per share, and it is expected that dividends will grow at 3% per year thereafter. The expected rate of return on the stock is 10%. (Do not round intermediate calculations. Round your answer to 2 a. What is the current price of the stock? decimal places.) Current price ____
b. What is the expected price of the stock in a year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Expected price ____
a) The expected rate of return on the stock is 10% then the current price of the stock is $28.57 .
b) The expected price of the stock in a year is $31.43 .
a. To calculate the current price of the stock, we can use the formula for the present value of a growing perpetuity as follows:Present value of a growing perpetuity = Payment / (Discount rate - Growth rate)
Here, Payment = $2 (the dividend in 1 year), Discount rate = 10%, and Growth rate = 3%.
Therefore, Current price of the stock = $2 / (10% - 3%) = $28.57 (rounded to 2 decimal places).
b. To calculate the expected price of the stock in a year, we can use the formula for the future value of a single amount as follows:
Future value of a single amount = Present value × (1 + Rate of return)
Here, Present value = $28.57 (the current price of the stock), and Rate of return = 10%.
Given that:Payment in one year = $2 per share
Payment in two years = $6 per share
Expected growth rate = 3%
Expected rate of return = 10%
Therefore, Expected price of the stock in a year = $28.57 × (1 + 10%) = $31.43 (rounded to 2 decimal places).
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when all resources of a process have implied utilization less than 100% it is constrained
When all resources of a process have implied utilization less than 100%, it is not constrained.
In this case, there is extra capacity available to the process. A constraint is a limiting factor that restricts a system from achieving its full potential. It is any factor that limits the performance of a system to a level below its potential.A constraint can arise when a system's output is limited by the availability of a particular resource. In manufacturing processes, the bottleneck resource, which is the resource that limits the output of the entire process, is known as the constraint. Bottlenecks can be identified by observing the rate of production at each stage of the process.
In conclusion, when the resources of a process have implied utilization less than 100%, the process is not constrained.
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A firm recently paid a dividend of R37.45 per share. The projected dividend growth rate is 18% for the first year, thereafter, the growth rate is expected to decline linearly for the next three years until it reaches a constant growth rate of 6%. Suppose you are given that the firm's cost of equity is 20% for the first three years, thereafter it increases by 1.5% and remains at this level indefinitely, how much will you pay for the firm's share today?
You would pay R124.13 for the firm's share today.
What is the price to pay for the firm's share today?To know price to pay for the firm's share today, we need to determine the present value of the future dividends using the dividend discount model (DDM).
Given data:
Dividend in the first year (D1) = R37.45
Dividend growth rate in the first year (g1) = 18%
Dividend growth rate after the first year (g2) = 6%
Cost of equity for the first three years (r1) = 20%
Cost of equity after the first three years (r2) = 20% + 1.5% = 21.5%
Year 1 growth rate: 18%
Year 2 growth rate: ((18% - 6%) / 3) + 6% = 10%
Year 3 growth rate: ((10% - 6%) / 2) + 6% = 8%
Year 4 growth rate: 6%
Year 1 dividend: R37.45 * (1 + 18%) = R44.19
Year 2 dividend: R44.19 * (1 + 10%) = R48.61
Year 3 dividend: R48.61 * (1 + 8%) = R52.55
Year 4 dividend: R52.55 * (1 + 6%) = R55.69
The cost of equity for each period:
Years 1-3: 20%
Year 4 onwards: 20% + 1.5% = 21.5%
The present value of the dividends:
Present value of Year 1 dividend: R44.19 / (1 + 20%) = R36.83
Present value of Year 2 dividend: R48.61 / (1 + 20%)^2 = R32.17
Present value of Year 3 dividend: R52.55 / (1 + 20%)^3 = R26.18
Present value of Year 4 dividend: R55.69 / (1 + 21.5%)^4 = R28.95
Present value = R36.83 + R32.17 + R26.18 + R28.95
Present value = R124.13.
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