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MaRussiya [10]
3 years ago
8

Mountain Mining requires $3.3 million to expand its current operations and has decided to raise these funds through a rights off

ering at a subscription price of $18 a share. The current market price of the company's stock is $24.70 a share. How many shares of stock must be sold to fund the expansion plans?a. 140,015 sharesb. 118,943 sharesc. 126,667 sharesd. 135,000sharese. 105,689 shares
Business
1 answer:
DedPeter [7]3 years ago
3 0

Answer:

183,333.33 shares

Explanation:

The computation of the shares of stock need to be sold is shown below:

= Total amount required to expand its current operations ÷ subscription price

= $3,300,000 ÷ $18 per share

= 183,333.33 shares

This is the answer and the same is not provided in the given options

We simply divide the Total amount required to expand its current operations by the subscription price so that the accurate shares can come.

All other information which is given is not relevant. Hence, ignored it

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prohojiy [21]

Answer:

Explanation:

According to the Kai surf shop in Laie, Hawaii, below is the computation of sales and use tax of surf shop that must collect or remit.

A.

Kai doesn't have a sales tax nexus with Utah, therefore it will not have any sales tax liability. Instead, Kalani will have a tax liability in Utah that will be $63($1000 x 6.85%).

B.

kai will have a tax liability of $83($2000 x 4.166%) Also, Nick will have use tax liability of $87[($2000 x (9% - 4.166%)].

C.

Kai doesn't have a sales tax nexus with Michigan, therefore it will not have sales tax liability. Instead, Jim will have a use tax liability in Michigan will be $140($2000 x 6%)

D.

Sales and use tax is not imposed on sale of services. Therefore, neither Kai nor Scott will have any sales or use tax liability.

7 0
3 years ago
Types of Financial Assets Match the description of the security to the type of financial asset. A security that provides a payof
IRISSAK [1]

Answer: Derivative security

Explanation:

Derivative security is referred to as the security that provides a payoff which depends on the values of other assets.

A derivative security is referred to as the financial instrument whereby the value depends on the value of another asset. There are different types of derivatives such as options, swaps, futures, and forwards. Example of derivative security is convertible bond.

6 0
3 years ago
If import restrictions remain in effect after an infant industry becomes competitive in the domestic​ market, consumers in this
sertanlavr [38]

Answer: higher than

Explanation: The stockholders of companies in the infant industry gain when they are protected from world competition

-Consumes in that country will therefore pay a price higher than the world price.

8 0
3 years ago
Which of these examples is not a good way to generate a unique response to a job advertisement?
zvonat [6]
<span>Include generalized statements the say, in effect, "take my word for it, I have what you are seeking."
People generally respond to advertisement that specifically address their personal needs/issue. Those type of sentences which ask others to trust you without solid reason will only make you seem too untrustworthy to be approached.

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6 0
3 years ago
A company issued common stock and preferred stock. Projected growth rate of the common stock is 5%. The current quarterly divide
mr_godi [17]

Answer:

8%

Explanation:

If the current quarterly dividend on preferred stock = $1.60, that means that the current yearly dividend = $1.60 x 4 quarters = $6.40

Since the yearly dividend = $6.40 and the current market price of preferred stock is $80, its expected rate of return = $6.40 / $80 = 8%

7 0
3 years ago
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