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Liabiliti CAPM: 20. Nor-Cal Surf 35% per year. The stock the T-bill rate is 4.00%, what is the Nor-Cal's current value of beta? A. 0.459 B. 0.722 C. 1.090 D. 1.616 E 1.927 mcently paid a $2.80 annual dividend. This dividend increases at an average rate of Pul is currently selling for $26.91 a share. If the average market return is 950%, and 21. Assume that you and type of sandal. Two robotic machines are available to make the sandals, Machine A and Machine B. The sales price, fixed and variable costs associated with the two machines are shown below difference between the break-even points for Machines A and B? your brother plan to open a business that will make and sell a newly designed . What is the Price per pair (P) Fixed costs (F) Variable cost/unit (V) Machine A Mashine B 20.00 $25,000 $100,000 $4.00 $20.00 $7.00 A. 3.154 B. 3,505 C. 3,894 D. 4,327 E. 4,760 22. You work for the CEO of a new company that plans to manufacture and sell a new product, a watch that has an embedded TV set and a magnifying glass crystal. The issue now is how to finance the company, with only equity or with a mix of debt and equity. Expected operating income is $400,000. Other data for the firm are shown below. How much higher or lower will the firm's expected ROE be if it uses some debt rather than all equity, i.e., what is ROE, - ROEu? 60% Debt 01 Debt, U $400,000 $2,500,000 0.0% $0.00 $2,500,000 NA 35% $400, 000 $2,500,000 60,0% $1,500,000 $1,000,000 7.50% 35% Operating Income (EBIT) Required investment 8 Debt (weight of) 5 of Cesn equity s of Common equity Interest rate Tax rate A. 5.85% B, 6.14% C. 6.95% D. 7.77% E. 8.29% 23. With the same information from question 25, if the stock price is $125 per share, what would be the earnings per share under the leveraged capital structure? A. $13.00 B. $16.25 C. $19.50 D. $21.67 E. $23.36