Republican Governor Hiram Johnson was the California governor who was instrumental in changing the executive bureaucracy from a spoils system to a merit system.
A spoils system refers to a system of patronage in which the victorious candidate or party in an election gives public offices to their supporters as reward and incentive.
It was a common phenomenon in the United States, until a civil service reform movement led to passage of the Pendleton Act of 1883, which instituted merit-based appointments to offices at the federal level.
Hiram Johnson was a former Governor of California between 1917 to 1945. He was credited with many progressive reforms, among which was ensuring the executive bureaucracy operated on the basis of merit and not political patronage.
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Answer:
NPV= $1,983,471.1
Explanation:
Giving the following information:
To calculate the present value you need to use the Net Present Value. The NPV is the difference between the present value of cash inflows and the present value of cash outflows over a period of time.
The formula is:
NPV= -Io + ∑[Rt/(1+i)^t]
where:
R t =Net cash inflow-outflows during a single period t
i=Discount rate of return that could be earned in alternative investments
t=Number of timer periods
NPV= -10,000,000 - 5,000,000/1.10 + (20,000,000/1.10^2)
NPV= $1,983,471.1
Answer:
The answer is d. 7.45%
Explanation:
B = Current Price of the Bonds $1,280
C = Coupon payment paid out annually $135
CP = Call price $1,050.
T= number of years pending until the call date 5 years
Yield to Call Formula = (C/2) * {(1- ( 1 + YTC/2)^-2t) / (YTC/2)} + (CP/1 + YTC/2)^2t)
$1,280 = ($135/2) * {(1- ( 1 + YTC/2)^-10) / (YTC/2)} +($1,050 /1 + YTC/2)^10) = 7.45%
Answer:
Netflix trades on NASDAQ.
