Thank You So Much For Such A Wonderful Semester - 924 Words

Thank you so much for such a wonderful semester. I truly enjoyed your class and all of the energy and passion you brought to our lecture. You have inspired me in so many ways. I was a member of Group 16 with Esther and Abigail and had so much fun getting to know everyone. I made several friends and hope that I will remain in contact with everyone as my time at Texas AM University continues. However, my main reason for writing this is to thank you for allowing me to get to know myself through the reflections that I wrote for your class. At the beginning of the semester I walked into Mays Business school without a purpose. I knew that I had wanted some type of administrative position in my future and business sounded like the perfect way to reach that goal. I am pretty good in math so I decided that I was going to get my degree in accounting, get my masters, and eventually become a CPA. I had everything planned out. As the semester began I thought I had everything lined out and perfect . When I came to your class and was told we would have to attend night speakers and write reflections I did not understand why. It was a mystery to me as to what good a reflection over a random speaker, whom I did not know, would do for me. However, as the semester went on, I continued writing all of these reflections and began to notice a pattern in my reflections. My love for others and desire to make a difference in the lives of others was evident. When I began to notice this reappearingShow MoreRelatedMy Experience With A Internship Experience913 Words   |  4 Pagesof anyone other than Mrs. Doss. She has so many wonderful teaching abilities and has ashared so many wonderful experiences with me that I am sure anyone would be thankful for. I am grateful for each and every opportunity that has been given to me during this experience. 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Specific Investment Decisions Free Essays

SPECIFIC INVESTMENT DECISIONS Q1. If a company leases rather than buy an asset, which of the following will not be a benefit to the purchaser? (MCQ)Avoiding Tax exhaustionExploiting a low cost of capital Attract lease customers Potential future scrap(2 marks) Q2. Willow Co has already decided to accept a project and is now considering how to finance the project. We will write a custom essay sample on Specific Investment Decisions or any similar topic only for you Order Now The asset could be leased over three years at a rental of $23,000 per annum, payable at the start of each year. Tax is payable at 25%, one year in arrears. The post-tax cost of borrowing is 8%. Calculate the net present value of the leasing option. (FIB)Years Cash flows ($)0 – 2 Rentals (23,000)2 – 4 Tax relief 5,75041084542545000NOTE: Negative answer should be shown with a negative sign (-)$(2 marks) Q3. Select the correct Lease option based on the statements given. (HA)It is a rental agreement OPERATING FINANCEMaintenance Servicing cost of Lessee OPERATING FINANCEAgreement for the useful life of the asset OPERATING FINANCEIncluded in the balance sheet of the Lessor OPERATING FINANCE(2 marks) Q4. Tango Co. needs to decide about an asset that will be used in a project. The company has an option to either Buy the asset or Lease it. If Tango Co. opts for Buy option the following information is given: The asset is bought using a bank loan for $400,000 for a time period of three years. The scrap value of the asset is $30,000 annual maintenance cost will be $12,000 per annum. Calculate the present value for year two using a cost of borrowing of 5% (ignoring taxation)? (MCQ)$30,000$(11,424)$(10,884)$15,552(2 marks) Q5. What are the relevant cash flows for Buy option? (MRQ)Investment and Disposal proceedsRepair Maintenance costTax allowable depreciationTax saving on Servicing cost(2 marks) Q6. Beamer Co. wants to replace a Dyeing machine on 31st December 2017. The machine is expected to cost $360,000 if purchased immediately, payable on 31st December 2017. After four years company expects technological changes in the market making this machine redundant and leaving a scrap value of $20,000 on 31st December 2021. Capital allowance on 25% reducing balance basis. A full year allowance is given for acquisition but no writing down allowance in the year of disposal. If the maintenance cost is $15,000 per year payable at each year end tax rate is 30%.What will be the Balancing Charge/Allowance? (MCQ)$28,172 Balancing Charge$27,000 Balancing Allowance$11,391 Balancing Charge$28,172 Balancing Allowance(2 marks) Q7. Putin Co has decided to invest in a new machine which has a ten-year life and no disposal proceeds. The machine can either be purchased now for $55,000, or it can be leased for ten years with lease rental payments of $10,000 per annum payable at the end of each year. The cost of capital to be applied is 11% and taxation should be ignored. What should be done? (MCQ)Purchase the machineLease the machineSale or LeasebackDo nothing(2 marks) Q8. A machine is leased using operating lease the annual lease rental for six years will be $67,000 payable at each year-end. The first rental will be payable at the start of year one. Calculate net present value using a cost of capital of 13%? (FIB) 3816353683000$(2 marks) Q9. A machine is leased using finance lease the annual lease rental for three years will be $95,000 payable at each year-end. The first rental will be payable at end of year zero in advance. The maintenance cost is $10,000 per annum for three years. Calculate net cash flow for year two using tax save rate of 30% recording in the year cash flow arises? (MCQ)$(66,500)$(73,500)$(7,000)$28,500(2 marks) Q10. â€Å"Assets with unequal lives cannot be compared to a comparison will not be like with like†. Which of the following option relates to the above statement? (MCQ)Equivalent annual costProfitability indexAsset Replacement decisionProbability analysis (2 marks) Q11. Project A with an NPV of $4m with six-year duration. Project B with an NPV of $5m with seven-year duration. Project C with NPV of $6m with a three-year duration. Cost of capital is 12%. Which of the following will be ranked second? (MCQ)Project AProject BProject CNone of the above(2 marks) Q12. The net present value of the costs of operating a machine for the next three years is $10,437 at a cost of capital of 16%. What is the equivalent annual cost of operating the machine? (FIB)4114806477000$ (2 marks) Q13. KD Co. is deciding to replace cargo planes every year or every two years. The initial cost of the plane is $200,000. The maintenance charges are as follows: First year it’s Nil ; $25,000 at the end of the second year. The second-hand value would fall from $110,000 to $90,000 if it held on the plane for two years instead of a one year. KD Co. cost of capital is 4%. How often should KD Co. replace their cargo planes % what will be the equivalent annual cost of the option they choose? (MCQ)Replace every 1 year $(94,180)Replace every 1 year $(97,900)Replace every 2 years $(139,875)Replace every 2 years $(48,450)(2 marks) Q14. Which of the following statements is/are a limitation for Asset Replacement Decision? (MRQ)Replacement made every time is better than the previous assetAssets replaced have same cash inflows every yearAssumed that Machines replaced have different operational efficiencies than the previous assetIt ignores environmental damage(2 marks) Q15. Capital Rationing is the restriction on organizations ability to invest in all projects due to insufficient funds. Select the relevant statements whether they are true or false. (HA)Hard Capital Rationing is the limit on the amount of finance available imposed by the lending institutions TRUE FALSESoft Capital Rationing is the limit on the amount of finance available imposed by the lending institutions TRUE FALSEProfitability index is a solution applicable to divisible projects only TRUE FALSETrial ; Error method is the solution applicable to divisible projects only TRUE FALSE(2 marks) Q16. Riddle Co. is appraising three investment projects but is experiencing a capital rationing in Year 0. No capital rationing is expected in future, but all the projects are important for the company and cannot be delayed ; a decision needs to be taken. Riddle Co. cost of capital is 6%. Which order should the projects to be ranked? The following information is available: (MCQ)Project The outlay in year 0 ($) Present Value ($) Net Present Value ($)Jeremy 115,000 121,900 12,190James 43,000 45,580 13,674Richard 75,000 79,500 47,700Jeremy, Richard, JamesJames, Jeremy, RichardRichard, James, JeremyJeremy, James, Richard (2 marks) Q17. What is an indivisible project?It is the ratio of the NPV of a project to its investment costIt is the project that must be undertaken completely or not at allIt is the project that must be undertaken completely or partiallyIt is the project restriction due to insufficient funds(2 marks)The following information relates to Q18 ; Q19.Schneider Co. is facing a capital constraint of $150m immediately available for investment. The investments in possible projects are: Project Initial Cost ($m) NPV ($m)W 30 7X 70 12Y 60 12Z 40 16 Q18. If the projects are divisible, what is the NPV generated from the optimum investment programme? (FIB)35115524765 00 $ Million(2 marks) Q19. If the projects are indivisible, what is the NPV generated from the optimum investment programme? (MCQ)$19m$24m$28m$35m(2 marks) Q20. Place the calculation steps of Profitability index in the correct order. (P;D)Monitor the investment made in the project 1Calculate profitability index of each project 2Allocate the funds 3Rank the project 4(2 marks)SPECIFIC INVESTMENT DECISIONS (ANSWERS) Q1. AAvoiding tax exhaustion is a benefit for lessee rather than the purchaser. Tax exhaustion is when a business has negative taxable income so cannot benefit from tax saving.Exploiting a low cost of capital is a benefit for the purchaserAttracting lease customers is a benefit to a lessorPotential future scrap is a benefit for the purchaser as the lessee is not entitled to future scrap proceeds Q2. $-50,289Years Cash flows ($) Discount Factor (8%) Present value ($)0 – 2 Rentals (23,000) 1 + 1.783 (64,009)2 – 4 Tax relief 5,750 3.312 – 0.926 13,720NPV (50,289) Q3. CIt is a rental agreement OPERATING Maintenance ; Servicing cost of Lessee FINANCEAgreement for the useful life of the asset FINANCEIncluded in the balance sheet of the Lessor OPERATING Q4. Year 0 1 2 3Investment / Scrap value (400,000) 30,000Maintenance (12,000) (12,000) (12,000)Net Cash flow (400,000) (12,000) (12,000) 18,000DF 5% 1 0.952 0.907 0.864Present value (400,000) (11,424) (10,884) 15,552 Q5. All cash flows are relevant for Buy option Q6. DYear 2017 2018 2019 2020 2021 2022Investment / Scrap value (360,000) 20,000 Tax save 27,000 20.250 15,188 11,391 28,172Workings:2017 (360,000 Ãâ€" 25%) = 90,000 Ãâ€" 30% = 27,0002018 (90,000 Ãâ€" 0.75) = 67,500 Ãâ€" 30% = 20,2502019 (67,500 Ãâ€" 0.75) = 50,625 Ãâ€" 30% = 15,1882020 (50,625 Ãâ€" 0.75) = 37,969 Ãâ€" 30% = 11,391Balancing Allowance (113,906 – 20,000) = $ 28,172 Q7. APresent value of leasing costs PV = Annuity factor at 11% for 10 years Ãâ€" $10,000 = 5.889 Ãâ€" $10,000 = $58,890 If the machine was purchased now, it would cost $55,000. The purchase is therefore the least-cost financing option, hence choosing the purchase option. Q8. $ – 267,866$67,000 Ãâ€" 3.998 (annuity factor for 6 years) = $ – 267,866 Q9. BYear 0 1 2 3Lease rentals (95,000) (95,000) (95,000) Maintenance (10,000) (10,000) (10,000)Tax save 30% (LR) 28,500 28,500 28,500 (M) 3,000 3,000 3,000Net cash flow (66,500) (73,500) (73,500) (7000) Q10. CEquivalent annual cost is method of converting asset lives to be like with likeProfitability index is the method to overcome capital rationingAsset Replacement decision is correctProbability analysis is method under risk ; uncertainty Q11. BProject A = $4 à · 4.111 (AF 6 years) = $0.973mProject B = $5 à · 4.564 (AF 7 years) = $1.096mProject C = $6 à · 2.402 (AF 3 years) = $2.498m Q12. $4,647EAC = $10,437 à · 2.246 (AF 3 years) = $4,647 Q13. DYear 1 Year Cash flow ($) DF (4%) PV ($)0 (200,000) 1 (200,000)1 110,000 0.962 105,820NPV (94,180)EAC = 94,180 à · 0.962 = 97,900Year 2 Year Cash flow ($) DF (4%) PV ($)0 (200,000) 1 (200,000)1 – 0.962 -2 (25,000) + 90,000 0.925 60,125NPV (139,875)EAC = 139,875 à · 2.887 = 48,450 Q14. Assets replaced have same cash inflows every year ; it ignores environmental damageReplacement made every time is like with likeAssets replaced have same cash inflows every year (limitation)Assumed that Machines replaced have same operational efficiencies like the previous assetIt ignores environmental damage, It ignores non-financial aspects (limitation) Q15.Hard Capital Rationing is the limit on the amount of finance available imposed by the lending institutions TRUE Soft Capital Rationing is the limit on the amount of finance available imposed by the lending institutions FALSE Profitability index is a solution applicable to divisible projects only TRUE Trial ; Error method is the solution applicable to divisible projects onlyFALSESoft Capital Rationing is the limit on the amount of finance available imposed by the company itself.Trial ; Error method is the solution applicable to indivisible projects only Q16. D. Jeremy, James, RichardProject The outlay in year 0 ($) Present Value($) Net Present Value ($) Profitability IndexJeremy 115,000 121,900 12,190 0.1James 43,000 45,580 13,674 0.3Richard 75,000 79,500 47,700 0.6Jeremy = (12,190 à · 121,900) = 0.1James = (13,674 à · 45,580) = 0.3Richard = (47,700 à · 79,500) = 0.6 Q17. BIt is the ratio of the NPV of a project to its investment cost (Profitability index)It is the project that must be undertaken completely or not at all (Indivisible project)It is the project that must be undertaken completely or partially (Divisible project) It is the project restriction due to insufficient funds (Capital rationing) Q18. $38.4mProject Profitability Index Ranking Investment ($) NPV ($)W ( 7 à · 30) = 0.23 2 30 Ãâ€"0.23 7X ( 12 à · 70) = 0.17 4 20 Ãâ€" 0.17 3.4Y ( 12 à · 60) = 0.2 3 60 Ãâ€" 0.2 12Z ( 16 à · 40) = 0.4 1 40 Ãâ€" 0.4 16Total 150 38.4 Q19. DCombination:W + X Cost $100m NPV $19mW + Y + Z Cost $130m NPV $35mX + Y Cost $130m NPV $24mX + Z Cost $110m NPV $28mY + Z Cost $100m NPV $28m Q20. Monitor the investment made in the project 4Calculate profitability index of each project 1Allocate the funds 3Rank the project 2 How to cite Specific Investment Decisions, Papers

Evolution And Religion Essay Example For Students

Evolution And Religion Essay Charles Darwins introduction of evolution, created the battle betweenevolution and religion. Still, to this day, the influence of Darwinism haspeople asking themselves where they came from. God, a higher spirit, or theprocess of evolution, are the two main choices to pick from. For many years, Godwas the predominant answer, but after the ideas of Darwin, scientists have takenthe task to trace humans back to the beginning of existence and try to give ascientific explanation. Obviously, since no one really knows for certain whathappened that resulted in the creation of man, it can only be determined on apersonal basis; through religious beliefs and educated guesses. Its quiteclear that without the influence of Darwinism, there would be no controversy. However, there doesnt have to be a controversy. The creation of man should bethought of as a combination of God and evolution. Before the thoughts of Darwin,most people concluded that their must have been a higher creator who had placedthem on earth. So, for many years, they worshiped God tenaciously, and to thisday some people still do. To change such an idea that has existed for so manyyears is hard to accomplish. Therefore, Darwins theory was consideredoutrageous. According to Steve Jones, in his book, Darwins Ghost, in 1991 ahundred million Americans believed that during the last ten thousand years, manwas created by God the way he is now. Man wasnt created from a previousspecie ( 1). Its most likely that there was a higher spirit that created theexistence of life. It explains how the world began. If you sit and think aboutit enough, its frightening to consider that there could, possibly, never havebeen anything at all; just an empty space of nothing, with no living mammals,insec ts, trees, grass, or clouds. However, the fact that humans, along with theother million types of living mammals, insects, and so forth, were created byGod is very unlikely. More likely, after a higher spirit created the beginninglife form, a single cell organism, after many years, this organism progressedinto what is now, considered the highest life form alive. In Darwins book,Origin of Species, he states that: Nothing at first can appear more difficult tobelieve than that the more complex organs and instincts should have beenperfected not by means superior to, though analogous with, human reason, but bythe accumulation of innumerable slight variations, each good for the individualpossessor. Nevertheless, this difficulty, though appearing to our imaginationinsuperably great, cannot be considered real if we admit the followingpropositions, namely, that the gradations in the perfection of any organ orinstinct, which we may consider, either do now exist or could have exists, eachgood of its kind, -that all organs and instincts are, in ever so slight a degree, variable, -and lastly, that there is a struggle for existence leading to thepreservation of each profitable deviation of structure or instinct. The truth ofthese propositions cannot, I think, be disputed. (Jones 331) Darwin never statesthat there was not a a superior being, but stares that organs and instincts werenot perfected by God. While a higher being began life, scientific actions tookplace to get where we are today. In the book of Science and Technology, itstates that, In Darwins Theory had a weakness, in that it didnt explainhow and why small variations in individuals eventually created a new species. Hebelieved it had to do with reproduction and heredity, but it wasnt until the1930s that geneticists explained how; through Modern Synthesis (1192 ). .u5dbae94108a5b4c46ce753c128af6e03 , .u5dbae94108a5b4c46ce753c128af6e03 .postImageUrl , .u5dbae94108a5b4c46ce753c128af6e03 .centered-text-area { min-height: 80px; position: relative; } .u5dbae94108a5b4c46ce753c128af6e03 , .u5dbae94108a5b4c46ce753c128af6e03:hover , .u5dbae94108a5b4c46ce753c128af6e03:visited , .u5dbae94108a5b4c46ce753c128af6e03:active { border:0!important; } .u5dbae94108a5b4c46ce753c128af6e03 .clearfix:after { content: ""; display: table; clear: both; } .u5dbae94108a5b4c46ce753c128af6e03 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u5dbae94108a5b4c46ce753c128af6e03:active , .u5dbae94108a5b4c46ce753c128af6e03:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u5dbae94108a5b4c46ce753c128af6e03 .centered-text-area { width: 100%; position: relative ; } .u5dbae94108a5b4c46ce753c128af6e03 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u5dbae94108a5b4c46ce753c128af6e03 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u5dbae94108a5b4c46ce753c128af6e03 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u5dbae94108a5b4c46ce753c128af6e03:hover .ctaButton { background-color: #34495E!important; } .u5dbae94108a5b4c46ce753c128af6e03 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u5dbae94108a5b4c46ce753c128af6e03 .u5dbae94108a5b4c46ce753c128af6e03-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u5dbae94108a5b4c46ce753c128af6e03:after { content: ""; display: block; clear: both; } READ: Death of a sales man wil EssayWith that bit of information, its even more logical that Evolution and Godcoexist. Its also logical that Darwin not only influenced the Science world,but he also influenced Religion. BibliographyEvolution. Science and Technology Illustrated. 1st ed. 1984. Jones,Steve. Darwins Ghost. New York: Random House, 1999