QUESTION 15 If you buy a store worth $250,000 with 14 percent down. The balance is to be paid off with equal annual payments at the end of each year over 30 years at a 12 percent rate of interest. What is the amount of the annual payment? $ 27,312 $ 26,691 $ 26,070 $ 25,449 $ 24,829 QUESTION 16 Beranek Corp has $720,000 of assets, and it uses no debt--it is financed only with common equity. The new CFO wants to employ enough debt to raise the debt/assets ratio to 40%, using the proceeds from borrowing to buy back common stock at its book value. How much must the firm borrow to achieve the target debt ratio? $273,600 $288,000 $302,400 $317,520 $333,396