Pettit Printing Company has a total market value of $100 million, consisting of 1 million shares selling for $50 per share and $50 million of 10% perpetual bonds now selling at par. The company's EBIT is $13.02 million, and its tax rate is 40%. Pettit can change its capital structure by either increasing its debt to 70% (based on market values) or decreasing it to 30%. If it decides to increase its use of leverage, it must call its old bonds and issue new ones with a 14% coupon. If it decides to decrease its leverage, it will call its old bonds and replace them with new 8% coupon bonds. The company will sell or repurchase stock at the new equilibrium price to complete the capital structure change. The firm pays out all earnings as dividends; hence, its stock is a zero growth stock. Its current cost of equity, rs, is 14%. If it increases leverage, rs will be 16%. If it decreases leverage, rs will be 13%. Present situation (50% debt):

The county collector of suncoast county is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. to reimburse the county for estimated administrative expenses of operating the tax agency fund, the agency fund deducts 1.5 percent from the collections for the town, the school district, and the other towns. the total amount deducted is added to the collections for the county and remitted to the suncoast county general fund. the following events occurred in 2017: 1. current-year tax levies to be collected by the agency were: county general fund $ 10,333,000 town of bayshore general fund 4,840,000 suncoast county consolidated school district 6,550,000 other towns 3,120,000 total $ 24,843,000 2. $13,700,000 of current taxes was collected during the first half of 2017.3. liabilities to all funds and governments as a result of the first half-year collections were recorded. (a schedule of amounts collected for each participant, showing the amount withheld for the county general fund and net amounts due the participants, is recommended for determining amounts to be recorded for this transaction.)4. all cash in the tax agency fund was distributed. requireda. prepare journal entries for each of the foregoing transactions that affected the tax agency fund. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your answers to the nearest whole dollar amount.)1. record the current-year tax levies to be collected by the agency.2.record the current taxes collected during the first half of 2017.3.record the liabilities due to all funds and governments at the end of first half-year.4. record the distribution of all cash in the tax agency fundb. prepare journal entries for each of the foregoing entries that affected the town of bayshore general fund. begin with the tax levy entry, assuming 2 percent of the gross levy will be uncollectible. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your answers to the nearest whole dollar amount.)1.record the revenues receivable and uncollectible.2. record the taxes collected

The purpose of the transportation approach for location analysis is to minimize which of the following? a. total costsb. total fixed costsc. the number of shipmentsd. total shipping costse. total variable costs

Which of the following describes a situation in which there would be decreasing marginal utility? a. buying only necessities. b. buying a car to substitute for riding the bus. c. buying food in bulk to save money in the long run. d. buying a second winter coat.