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[answered] Assume the following spot and forward rates for the New Zea


Assume the following spot and forward rates for the New Zealand dollar ($/NZD).

?????????? Spot rate???????????????????????????????? $0.9477

30-day forward rate??????????????? $0.9519

90-day forward rate??????????????? $0.9569

120-day forward rate????????????? $0.9602


a) What is the Canadian dollar value of one New Zealand dollar in the spot market?
b) Suppose you issued a 90-day forward contract to exchange 100,000 New Zealand dollars into Canadian. dollars. How many Canadian dollars are involved?
c) How many New Zealand dollars can you get for one Canadian dollar in the spot market?
d) If the spot rate for the US dollar is $1.0915, what is the USD price for one NZD?

48. (4 points) The Morgan Music Company has common and preferred stock outstanding. The preferred stock pays an annual dividend of $9 per share, and the required rate of return for similar preferred stocks is 8%. The common stock paid a dividend of $2.00 per share last year, but the company expected that earnings and dividends will grow by 30% for the next two years before dropping to a constant 5% growth rate afterward. The required rate of return on similar common stocks is 11%


What is the per-share value of the company's preferred stock and the per-share value of the company?s common stock?

 


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