the market rate of return is 12.65 percent, and the risk-free rate is 3.1 percent. galaxy company has 15 percent more systematic risk than the overall market and has a dividend growth rate of 3.75 percent. the firm's stock is currently selling for $53 a share and has a dividend yield of 4.53 percent. what is the firm's average cost of equity? group of answer choices 17.33% 11.18% 10.87% 12.16% 12.36%

Answers

Answer 1

To calculate the average cost of equity for Galaxy Company, we need to use the Capital Asset Pricing Model (CAPM). The CAPM formula is: Option C is correct.

Cost of Equity = Risk-Free Rate + Beta * (Market Rate of Return - Risk-Free Rate) Here, the risk-free rate is given as 3.1 percent and the market rate of return is 12.65 percent. We also know that Galaxy Company has 15 percent more systematic risk than the overall market, which means its beta is 1.15, we need to calculate the expected market rate of return that incorporates the company's dividend growth rate. We can use the Dividend Discount Model (DDM) for this calculation. The DDM formula is:

Expected Market Rate of Return = Dividend Yield + Dividend Growth Rate

Here, the dividend yield is given as 4.53 percent and the dividend growth rate is 3.75 percent. Therefore, the expected market rate of return is:
Expected Market Rate of Return = 4.53% + 3.75% = 8.28%
Using the CAPM formula, we can now calculate the cost of equity for Galaxy Company:
Cost of Equity = 3.1% + 1.15 * (8.28% - 3.1%) = 10.87%

Therefore, the answer is 10.87%, which is option C. This means that investors require a return of 10.87% to compensate for the risk associated with investing in Galaxy Company's stock.

For more such questions on CAPM

https://brainly.com/question/28204743

#SPJ11


Related Questions

XYZ Company produce books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 7,200copies. The cost of one copy of the book is $14.50. The holding cost is based on an 18% annual rate, and setup costs are $150 per setup. The equipment on which the book is produced has an annual productionvolume of 27,000 copies. XYZ has 300 working days per year, and the lead time for a production run is 15 days.Answers the following aspects of the inventory policy for XYZ.a. Currently the company is using EOQ model for determining their order size. As a management consultant howcan you help them to reduce inventory cost?

Answers

By reviewing and optimizing their current EOQ the inventory costs can be reduced by:

implementing an order size of 846 copies, monitoring inventory levels and initiate a production run when inventory reaches the reorder point of 360 copies, and continuously reviewing and updating the EOQ model parameters.

As a management consultant, I can help XYZ Company reduce inventory costs by reviewing and optimizing their current EOQ (Economic Order Quantity) model.

In order to reduce inventory costs by reviewing and optimizing their current EOQ (Economic Order Quantity) model, follow these steps:

1. Calculate the EOQ:

First, we need to determine the current EOQ using the formula:

EOQ = √(2DS/H),

where D is the annual demand (7,200 copies), S is the setup cost ($150 per setup), and H is the holding cost per unit per year ($14.50 * 18%).

EOQ = √(2 * 7,200 * 150 / (14.50 * 0.18)) ≈ 846 copies

2. Analyze lead time and reorder point:

Considering the lead time of 15 days and 300 working days per year, the daily demand rate is:

Daily Demand = 7,200 copies / 300 days = 24 copies per day

Reorder Point = Daily Demand * Lead Time = 24 copies/day * 15 days = 360 copies

3. Evaluate production and ordering policies:

The annual production volume is 27,000 copies, which is sufficient to meet the annual demand of 7,200 copies. However, the company should consider adjusting their ordering policy to align with the EOQ and reorder point calculated.

4. Recommend improvements: To reduce inventory costs, the company should:

Implement an order size of 846 copies, which minimizes total inventory costs (holding and setup costs)Monitor inventory levels and initiate a production run when inventory reaches the reorder point of 360 copiesContinuously review and update the EOQ model parameters, considering fluctuations in demand, production costs, and holding costs

By following these recommendations, XYZ Company can optimize their inventory policy, reducing overall costs and improving efficiency.

Learn more about EOQ:

https://brainly.com/question/30010562

#SPJ11

A customer purchases securities on april 30th, 2022. the securities appreciate and the customer wants to donate the securities to get a tax deduction. the customer will be able to deduct the full market value without incurring any other taxes if the securities are donated on:_____.

Answers

A customer purchases securities on april 30th, 2022. the securities appreciate and the customer wants to donate the securities to get a tax deduction. the customer will be able to deduct the full market value without incurring any other taxes if the securities are donated on: December 31st, 2022.

If a customer purchases securities and holds them for more than one year before donating them to a qualified charity, they will be eligible to receive a tax deduction for the full fair market value of the securities without incurring any capital gains tax.

This is because the donation is considered a charitable contribution, and the customer can deduct the fair market value of the securities as a charitable contribution on their tax return, up to certain limits. The charity must be qualified and that there are specific rules and regulations around charitable contributions,

To know more about tax deduction:

https://brainly.com/question/27051230

#SPJ4

"The goal of cellular manufacturing is to:Group of answer choicesA. create a zero-defect environmentB. reduce customer defectionC. eliminate shrinkageD. create a team environmentE. provide quick and inexpensive"

Answers

The goal of cellular manufacturing is to create a team environment. Option D is the answer.

Cellular manufacturing is a type of manufacturing system that involves the use of small, self-contained production units called cells, which can operate independently or be combined with other cells to create a larger production system. The aim of cellular manufacturing is to improve production efficiency and reduce lead times while also improving quality. Cellular manufacturing has numerous benefits, including:

It improves production efficiency by reducing waste and increasing productivity.It enhances flexibility and responsiveness by allowing production cells to be reconfigured quickly to meet changing market demand.It improves quality by reducing the number of operations, simplifying processes, and minimizing the risk of errors.It improves employee morale by fostering team spirit, accountability, and involvement in the production process.It reduces production costs by improving the flow of materials and reducing work-in-progress inventory levels.

Therefore, the goal of cellular manufacturing is to D- create a team environment.

You can learn more about cellular manufacturing at

https://brainly.com/question/30703541

#SPJ11

which of the following definitions best describe interest as it relates to saving? 
a. when a bank pays particular attention to customers.
b. when a bank pays a customer for depositing his or her money at the bank.
c. when a bank offers a new savings product.
d. what you are charged on a loan.

Answers

b. When a bank pays a customer for depositing his or her money at the bank. This is the most appropriate definition of interest as it relates to saving. When you deposit money into a savings account, the bank pays you interest on your deposit as a way to encourage you to save money with them.

Isaac purchased a new car in 2004 for \$16,900$16,900. the value of the car has been depreciating exponentially at a constant rate. if the value of the car was $1,400$1,400 in the year 2012, then what would be the predicted value of the car in the year 2017, to the nearest dollar?

Answers

The predicted value of a car in 2017, was purchased for $16,900 in 2004 and had a value of $1,400 in 2012, with the value depreciating exponentially at a constant rate.

To find the predicted value, we can use the exponential decay formula:

V(t) = P * (1 - r)^t

where V(t) is the value at time t, P is the initial value, r is the decay rate, and t is the time period. We need to find the rate r and then apply it to the time period between 2004 and 2017.

First, let's find the decay rate using the 2012 value:

1,400 = 16,900 * (1 - r)^(2012 - 2004)

Solve for r:

(1 - r)^8 = 1,400/16,900 ≈ 0.08284024

Taking the 8th root of both sides:

1 - r ≈ 0.8799249

r ≈ 0.1200751

Now, we can use this rate to predict the value in 2017:

V(2017 - 2004) = 16,900 * (1 - 0.1200751)^(2017 - 2004)

V(13) ≈ 16,900 * (0.8799249)^13

V(13) ≈ 914.69

So, the predicted value of the car in 2017, to the nearest dollar, would be approximately $915.

Kno more about the "exponential decay formula".

https://brainly.com/question/30390038

#SPJ11

The u. S. Dollar appreciated relative to other major trading currencies between 2014 and early 2016 primarily because.

Answers

The u. S. Dollar appreciated relative to other major trading currencies between 2014 and mid-2016 basically because the cost of unfamiliar products to the US expanded.

The option (A) is correct.

The expense of trading products will increment assuming that the worth of the dollar increments since global purchasers should pay more in USD for American merchandise. That shows that less American merchandise will probably be traded because of the expanded cost.

At the point when interest for the dollar builds compared with interest for different monetary standards, the worth of the dollar increments. This could happen when there are more regrettable monetary possibilities beyond the US or when there is more vulnerability all through the world since US government resources gain from being viewed as a place of refuge.

Learn more about trading currencies:

https://brainly.com/question/29574031

#SPJ4

This question is not complete, Here I am attaching the complete  question:

The u. S. Dollar appreciated relative to other major trading currencies between 2014 and early 2016 primarily because.

(A) the cost of unfamiliar products to the US expanded.

(B)  the most influential governmental actions.

(C) Firm-level capability, and Individual-level productivity.

Question


quadrilaterals abcd and efgh are similar trapezoids. the measure of ab¯¯¯¯¯¯¯¯ is 44 inches, the measure of bc¯¯¯¯¯¯¯¯ is 48 inches, and the measure of ef¯¯¯¯¯¯¯¯ is 33 inches. what is the measure of fg¯¯¯¯¯¯¯¯?

Answers

In the quadrilateral EFGH, length of FG is 36 inches.

Quadrilaterals are polygons with four sides and four angles. A quadrilateral's interior angles are always added up to 360 degrees. Quadrilaterals come in a variety of shapes, including parallelograms, squares, rectangles, rhombuses, and trapezoids.

Here quadrilaterals ABCD and EFGH are similar trapezoids, the corresponding side lengths are proportional. Let K be the proportionality constant.

[tex]\frac{AB}{EF}=\frac{CD}{GH}= K[/tex]

[tex]\frac{BC}{FG} = K[/tex]

AB=44

BC=48

EF=33

K= [tex]\frac{AB}{EF} = \frac{44}{33}[/tex]

K= [tex]\frac{BC}{FG}[/tex]

[tex]FG= \frac{BC}{K} \\\\\FG= \frac{48}{\frac{44}{33} }[/tex]

[tex]FG= \frac{48.33}{44} = 36\\\\FG= 36 inches[/tex]

Learn more about quadrilateral at:

brainly.com/question/12131358

#SPJ4

the existence of economies of scale is one reason oligopolies exist because group of answer choices of strategic dependence. a firm is able to increase price leading to increased profits. the marginal cost decreases as output increases. as output increases average total cost decreases leading to large-scale firms.

Answers

It is accurate to say that one of the causes of oligopolies is the existence of economies of scale. This is due to the fact that larger enterprises can offer cheaper pricing and acquire a competitive edge over smaller ones.

Which oligopoly claim is accurate?

They are not allocatively efficient since their price is higher than their marginal cost. The ______ _______ model is best appropriate when oligopoly members respond to pricing changes made by a dominating firm.

What does Mcq's oligopoly mean?

Few suppliers, numerous customers is the perfect response. In a market for commodities, oligopoly develops when there are a few companies manufacturing the same type of good.

To know more about economies visit:-

https://brainly.com/question/18461883

#SPJ1

explain two product considerations that can affect the choice of a promotional mix.

Answers

The choice of a promotional mix for a product can be influenced by a number of factors, including the product itself. Here are two product considerations that can affect the choice of a promotional mix:

Product complexity: The complexity of a product can impact the choice of a promotional mix. For example, if a product is highly technical and requires a lot of explanation to understand, it may be more effective to use personal selling or direct marketing to communicate its benefits to potential customers. On the other hand, if a product is simple and easy to understand, it may be more appropriate to use mass media advertising to reach a wide audience.

Product life cycle: The stage of a product's life cycle can also influence the choice of a promotional mix. For example, when a new product is introduced, it may be more effective to use a combination of advertising, public relations, and personal selling to build awareness and generate interest. As the product becomes more established, direct marketing and sales promotions may become more effective in maintaining customer loyalty and encouraging repeat purchases. Finally, when the product is nearing the end of its life cycle, it may be more appropriate to use sales promotions and personal selling to clear out remaining inventory and liquidate assets.

when a firm integrates many different activities such as does in communicating to consumers, employees, and other stakeholders about the corporate culture and spirit, it can be identified as employing what type of function?

Answers

When a firm integrates many different activities such as communicating to consumers, employees, and other stakeholders about the corporate culture and spirit, it can be identified as employing an integrated marketing communications (IMC) function.

IMC is a strategic approach to involves the integration of different communication tools and channels to deliver a unified and consistent message to the target audience.
The IMC function involves coordinating all marketing communication activities, such as advertising, sales promotions, public relations, direct marketing, and personal selling, to ensure that they are consistent with the firm's overall marketing strategy and objectives. By integrating these activities, a firm can create a more powerful and effective marketing message that resonates with its target audience.
Moreover, an integrated approach to marketing communication can help a firm to achieve greater efficiency and effectiveness in its communication efforts. By coordinating all communication activities, a firm can avoid duplication, reduce costs, and ensure that its messages are delivered to the right people at the right time through the most effective channels.
In conclusion, an integrated marketing communication function is a strategic approach to communication that involves the integration of different communication tools and channels to deliver a unified and consistent message to the target audience. By employing an IMC function, a firm can create a more powerful and effective marketing message and achieve greater efficiency and effectiveness in its communication efforts.

For more such questions on stakeholders

https://brainly.com/question/30245345

#SPJ11

You are surveying a piece of your land to plant raspberry bushes and want to know the number of acres you


will be using. You partition off 10 rows, each of which are 66 inches wide and 1,214 feet long. What is the


area of this partitioned land, to the nearest hundredth of an acro?

Answers

The area of this partitioned land is 1.533 acres.

To solve this, first convert the measurements into feet.

Each row is 66 inches, which is equal to 5.5 feet.

Therefore, Each row = 5.5 x 1214

Each row = 6,677 feet

To calculate the area, we can multiply the number of rows (10) by the length of each row (6,677).

Therefore, the area of the partitioned land = 10 x 6,677

The area of the partitioned land = 66,770 square feet

To convert this to acres, we can divide the number of square feet by 43,560 (the number of square feet in an acre).

Therefore, 66,770/43,560 = 1.533 acres.

Finally, we can round this to the nearest hundredth of an acre, which is 1.533 acres.

To learn more about area link is here

brainly.com/question/16151549

#SPJ4

OptiLux is considering investing in an automated manufacturing system. The system requires an initial investment of $5. 8 million, has a 20-year life, and will have zero salvage value. If the system is implemented, the company will save $760,000 per year in direct labor costs. The company requires a 11% return from its investments. Compute the internal rate of return for the p

Answers

The internal rate of return for the automated manufacturing system project is 9.44%, which is lower than the company's required return of 11%. This suggests that the project may not meet OptiLux's investment criteria.

To calculate the internal rate of return (IRR) for OptiLux's proposed automated manufacturing system investment, we need to consider the initial investment, annual savings, and the required return on investment.
1. Initial investment: $5.8 million
2. Annual savings: $760,000 per year
3. Project life: 20 years
4. Required return: 11%
We will use the formula for the net present value (NPV) to determine the IRR. The formula is:
NPV = ∑ (Cash flow / (1 + IRR)ⁿ) - Initial Investment
Where:
Cash flow = Annual savings
IRR = Internal rate of return
n = Year of cash flow


To find the IRR, we need to set the NPV equal to zero and solve for IRR. Since the cash flow is the same each year, we can simplify the equation using the formula for the present value of an annuity:
NPV = (Annual savings * [(1 - (1 + IRR)⁽⁻²⁰⁾/ IRR]) - Initial Investment
0 = ($760,000 * [(1 - (1 + IRR)⁽⁻²⁰⁾/ IRR]) - $5,800,000
Now, solving for IRR involves iteration or using a financial calculator or software like Excel. Using a financial calculator or Excel, we can find that the IRR for the project is approximately 9.44%.

To know more about rate of return click here

brainly.com/question/14378808

#SPJ11

Elliott has the following capital gain and loss transactions for 2020. A. Short-term capital gain $1,500 b. Short-term capital loss ($3,600) c. Long-term capital gain (28%) $12,000 d. Long-term capital gain (25%) $4,800 e. Long-term capital gain (15%) $6,000 f. Long-term capital loss (28%) ($4,500) g. Long-term capital loss (15%) ($9,000)

Answers

After netting the capital gains and losses, Elliott has a net long-term capital gain of $9,300 and a net long-term capital gain of $7,200 for the year 2020.

Start by netting the short-term capital gain and loss

$1,500 - $3,600 = ($2,100) net short-term capital loss

Next, net the long-term capital gains and losses for each tax rate

28% long-term capital gains: $12,000 - $4,500 = $7,500 net long-term capital gain

25% long-term capital gains: $4,800 net long-term capital gain

15% long-term capital gains: $6,000 - $9,000 = ($3,000) net long-term capital loss

Add up the net long-term capital gains and losses

$7,500 + $4,800 - $3,000 = $9,300 net long-term capital gain

Finally, add up the net short-term capital loss and the net long-term capital gain

($2,100) + $9,300 = $7,200 overall net capital gain

Therefore, Elliott's overall net capital gain for 2020 is $7,200.

To know more about gain and loss transactions:

https://brainly.com/question/23692949

#SPJ4

--The given question is incomplete, the complete question is given

" Elliott has the following capital gain and loss transactions for 2020. A. Short-term capital gain $1,500 b. Short-term capital loss ($3,600) c. Long-term capital gain (28%) $12,000 d. Long-term capital gain (25%) $4,800 e. Long-term capital gain (15%) $6,000 f. Long-term capital loss (28%) ($4,500) g. Long-term capital loss (15%) ($9,000) After the netting process, Elliott has an overall Select: (net long-term capital gain, net long-term capital loss, net short-term capital gain, net short-term capital loss) of $__________ ."--

Vortex Company operates a retail store with two departments. Information about those departments follows. Department A Department B Sales $ 800,000 $ 450,000 Cost of goods sold 497,000 291,000 Direct expenses: Salaries 125,000 88,000 Insurance 20,000 10,000 Utilities 24,000 14,000 Depreciation 21,000 12,000 Maintenance 7,000 5,000 The company also incurred the following indirect costs. Salaries $36,000 Insurance 6,000 Depreciation 15,000 Office expenses 50,000 Indirect costs are allocated as follows: salaries on the basis of sales; insurance and depreciation on the basis of square footage; and office expenses on the basis of number of employees. Additional information about the departments follows. Department Square footage Number of employees A 28,000 75 B 12,000 50 Required: 1. Determine the departmental contribution to overhead and the departmental net income for department A and Department B. 2. Should Department B be eliminated

Answers

Net income is the difference between a company's total revenues and total expenses, after accounting for all costs of doing business. It is an important metric used to measure the profitability of a company over a period of time, typically a fiscal quarter or year.

Departmental Contribution to Overhead and Departmental Net Income:

Department A:

Sales: $800,000

Cost of goods sold: $497,000

Direct expenses: $267,000

Contribution to overhead: ($800,000 - $497,000 - $267,000) = $36,000

Indirect expenses: (Salaries: $22,500 + Insurance: $3,000 + Depreciation: $9,000 + Office expenses: $25,000) = $59,500

Departmental net income: $36,000 - $59,500 = ($23,500)

Department B:

Sales: $450,000

Cost of goods sold: $291,000

Direct expenses: $119,000

Contribution to overhead: ($450,000 - $291,000 - $119,000) = $40,000

Indirect expenses: (Salaries: $13,500 + Insurance: $1,500 + Depreciation: $6,000 + Office expenses: $25,000) = $46,000

Departmental net income: $40,000 - $46,000 = ($6,000)

Whether Department B should be eliminated or not depends on various factors such as strategic fit, market demand, customer preferences, and profitability. Based on the given information, Department B has a negative net income, which means it is not contributing to the overall profitability of the company. However, it is important to consider the potential long-term impact of eliminating a department on the company's reputation, employee morale, and customer loyalty. A detailed analysis of the costs and benefits of eliminating Department B is required before making a decision.

To know more about Net income here

https://brainly.com/question/28390284

#SPJ4

Money earns ________

Answers

Answer:

money earns mia kha... I mean. interest

The , author of the book The Fifth Discipline: The Art and Practice of the Learning Organization said, "When I look at effort to create change in big companies over the past ten years, I have to say there is enough evidence of success to say that change is possible - and enough evidence of failure to say that it isn’t likely." Please discuss your view of the rigors of organizational change and strategies for leading change. Based on that understanding, identify three imperatives for leaders who want to be successful change agents.

Answers

Organizational change is a rigorous process, as it involves overcoming resistance from employees, adapting to new systems and processes, and ensuring that the changes lead to improved performance.

The strategies for leading change

Three strategies for leading change include:

1. Clear communication: Effective communication of the rationale behind the change, its objectives, and the benefits it brings to the organization is essential. This helps employees understand the need for change and reduces resistance.

2. Inclusive approach: Involving employees in the change process, taking their feedback, and considering their opinions can help make the transition smoother. This ensures that the change is well-accepted and creates a sense of ownership among employees.

3. Continuous learning and improvement: Change is an ongoing process, and leaders should be open to learning from both successes and failures. They should constantly review the progress of the change initiative and make necessary adjustments to ensure its success.

Learn more about leading change at

https://brainly.com/question/430371

#SPJ11

Milliken uses a digitally controlled dyer for placing intricate and integrated patterns on manufactured carpet squares for home and commercial use. It is purchased for $425,000. It is expected to last 8 years and has a salvage value of $28,500. Increased before tax cash flow due to this dyer is $95,000 per year. Milliken's tax rate is 25%, and the after-tax MARR is 12%. Develop tables using a spreadsheet to determine the ATCF for each year and the after-tax PW, AW, IRR, and ERR after 8 years. Use straight-line depreciation (no half-year convention). Use MACRS-GDS and state the appropriate property class. Use double declining balance depreciation (no half-year convention, no switching)

Answers

To evaluate the investment in the new pump, calculate the after-tax cash flows (ATCF) by considering depreciation methods (straight-line, MACRS-GDS, double declining balance), tax shields, and relevant costs.

Then, use these ATCF values to determine the after-tax present worth (PW), annual worth (AW), internal rate of return (IRR), and external rate of return (ERR) over an 8-year period.

To determine the after-tax cash flow (ATCF) and evaluate the investment, follow these steps:

1. Calculate the depreciation expense using the straight-line method, MACRS-GDS, and double declining balance method.
2. Calculate the tax shield.
3. Calculate the ATCF for each year.
4. Calculate the after-tax present worth (PW), annual worth (AW), internal rate of return (IRR), and external rate of return (ERR) after 8 years.

Step 1: Calculate depreciation expense

Straight-line method:
Depreciation per year = (Initial Cost - Salvage Value) / Useful life
= ($425,000 - $28,500) / 8
= $49,687.50 per year

Double declining balance method (no half-year convention):
Depreciation Rate = (2 / Useful life) x 100%
= (2 / 8) x 100%
= 25% per year

For MACRS-GDS, this equipment falls under the 7-year property class.

Step 2: Calculate tax shield
Tax Shield = Depreciation Expense x Tax Rate

Step 3: Calculate ATCF for each year
ATCF = Increased Before Tax Cash Flow + Tax Shield - Depreciation Expense

Step 4: Calculate after-tax PW, AW, IRR, and ERR
Use a spreadsheet to calculate the after-tax PW, AW, IRR, and ERR for each depreciation method. Input the ATCF for each year, MARR (12%), and 8-year project life. The spreadsheet will provide you with the values for PW, AW, IRR, and ERR.

By completing these steps, you will have calculated the ATCF for each year and the after-tax PW, AW, IRR, and ERR after 8 years for the digitally controlled dyer using the straight-line, MACRS-GDS, and double declining balance depreciation methods.

To know more about depreciation methods , refer here :

https://brainly.com/question/30045506#

#SPJ11

7. If the total output of a country (GDP) in a given year is 100 million US dollar and the lost part of capital goods in generating this national output is 9. 5 million US dollar, then find

A) the net domestic product (NDP) of the country in that particular year.

Answers

The net domestic product (NDP) of the country in that particular year is 90.5 million US dollars.

The net domestic product (NDP) of a country is the total output (GDP) minus the depreciation or lost part of capital goods used to generate that output. In this scenario, the GDP of the country is 100 million US dollars, but the lost part of capital goods used in generating this national output is 9.5 million US dollars. Therefore, the NDP of the country in that particular year can be calculated by subtracting the lost part of capital goods from the GDP.

NDP = GDP - Lost part of capital goods
NDP = 100 million US dollars - 9.5 million US dollars
NDP = 90.5 million US dollars

Therefore, the net domestic product (NDP) of the country in that particular year is 90.5 million US dollars. This figure represents the actual value of goods and services produced by the country, after accounting for the wear and tear or depreciation of capital goods used in the production process. It is an important indicator of a country's economic growth and development, and is used to measure the standard of living of its citizens.

For more about net domestic product:

https://brainly.com/question/9113266

#SPJ11

Peng Company is considering an investment expected to generate an average net income after taxes of $2,600 for three years. The investment costs $48,300 and has an estimated $6,900 salvage value. QS 24-7 Computation of accounting rate of return LO P2 Compute the accounting rate of return for this investment; assume the company uses straight-line depreciation

Answers

The accounting rate of return for Peng Company's investment [tex]59.42%[/tex]


Determine the annual depreciation: To do this, subtract the salvage value from the initial investment cost and divide the result by the number of years the investment will generate income.
Annual Depreciation = (Initial Investment - Salvage Value) / Years
Annual Depreciation[tex]= ($48,300 - $6,900) / 3[/tex]
Annual Depreciation [tex]= $27,600[/tex]
Annual Depreciation[tex]= $13,800[/tex]

Calculate the annual average operating income: This is the net income after taxes that the investment will generate each year.
Annual Average Operating Income [tex]= $2,600[/tex]

Determine the average investment: To do this, add the initial investment and the salvage value and divide the result by 2.
Average Investment Average Investment [tex]= ($48,300 + $6,900) / 2[/tex][tex]= $41,400 / 3[/tex]
Average Investment = [tex]$55,200 / 2[/tex]

Average Investment = [tex]$27,600[/tex]
Compute the accounting rate of return: Divide the annual average operating income plus the annual depreciation by the average investment.
Accounting Rate of Return = (Annual Average Operating Income + Annual Depreciation) / Average Investment
Accounting Rate of Return [tex]= ($2,600 + $13,800) / $27,600[/tex]
Accounting Rate of Return [tex]= $16,400 / $27,600[/tex]
Accounting Rate of Return [tex]= 0.5942[/tex] (rounded to four decimal places)

Convert the accounting rate of return to a percentage: Multiply the result by 100.
Accounting Rate of Return [tex]= 0.5942 * 100[/tex]
Accounting Rate of Return [tex]= 59.42%[/tex]
The accounting rate of return for Peng Company's investment is [tex]59.42%.[/tex]

To know more about accounting visit here:

https://brainly.com/question/29108212

#SPJ11

define information silo and explain how such silos come into existence. when do such silos become a problem? name and describe five common functional applications. describe data that are likely duplicated among those five applications. summarize the problems that information silos cause. summarize the ways that enterprise systems can be used to solve problems of information silos at both the workgroup and the enterprise level.

Answers

Information silos refer to isolated data storage systems within an organization where data is held by a particular department or individual and is not shared with other departments or individuals.

These silos come into existence due to various reasons, such as different data management practices, lack of communication, and incompatible technologies between different departments.

Silos become a problem when they hinder communication, create data redundancy and inconsistencies, and prevent effective decision-making.

Five common functional applications that contribute to the creation of silos include customer relationship management (CRM), enterprise resource planning (ERP), supply chain management (SCM), human resource management (HRM), and accounting systems.

Data that are likely duplicated among these applications include customer information, employee information, financial data, and inventory information.

Information silos cause problems for organizations by impeding communication and collaboration, leading to data inconsistencies, reducing operational efficiency, and hindering decision-making.

Enterprise systems such as enterprise resource planning (ERP), supply chain management (SCM), and customer relationship management (CRM) can be used to solve the problems caused by silos.

These systems provide a centralized platform for data storage and management, enabling information sharing between different departments and individuals, improving communication, reducing redundancy, and enhancing decision-making.

At the workgroup level, these systems can be integrated with other functional applications to improve efficiency, while at the enterprise level, they can be used to create a unified and seamless data management platform.

To learn more about information silo click on,

https://brainly.com/question/30875840

#SPJ4

What are example types of momentum as a key quant factor in the stock market? which answer is right?

a) hiring momentum
b) earnings momentum
c) operational efficiency momentum

Answers

B) earnings momentum is a types of momentum as a key quant factor in the stock market.

Earnings momentum is a key quantitative factor used in the stock market to evaluate a company's financial performance over time. It is the rate at which a company's earnings are increasing or decreasing, and is often used as an indicator of future earnings potential. Stocks with positive earnings momentum are typically seen as attractive investment opportunities, while stocks with negative earnings momentum may be seen as less attractive.

Hiring momentum and operational efficiency momentum are not typically used as quant factors in the stock market, although they may be considered by some investors as part of a broader analysis of a company's overall performance.

learn more about stock market. here:

https://brainly.com/question/13400473

#SPJ11

If an adjustment is made to a project, a ____________ would document a description of the adjustment, an impact statement, and an implementation plan. a. ) communication plan b. ) sign-off request c. ) risk register d. ) change request

Answers

If an adjustment is made to a project, a d-change request would document a description of the adjustment, an impact statement, and an implementation plan.

A change request is a formal document used in project management to request a change to a project's scope, schedule, budget, or other aspects of the project plan. It documents the details of the proposed change, including a description of the adjustment, an impact statement, and an implementation plan.

Change requests are typically submitted by project team members or stakeholders who have identified a need for a change. The change request is then reviewed by the project manager and other relevant stakeholders to determine the feasibility and impact of the proposed change.

If the change request is approved, it is then implemented according to the implementation plan included in the request. Change requests help ensure that any changes made to a project are well-documented, evaluated, and implemented in a controlled and systematic way to minimize disruption to the project's schedule, budget, and quality.

learn more about change request here:

https://brainly.com/question/13439316

#SPJ11

aleb wants to get a payday loan in the amount of $375. he knows that the annual percentage rates (apr) for these types of loans are high, but he is hoping to find one that has an apr of 40%. if kaleb finds a business that charges a fee of $37 for the loan, what would the term of the loan need to be in order for kaleb to get his desired apr? a. 9 days b. 19 days c. 90 days

Answers

The term of the loan that Kaleb would need in order to get his desired APR of 40% is 90 days.

To determine the term of the loan that Kaleb would need in order to get his desired APR of 40%, we can use the formula for APR, which is:

APR = (Interest Paid / Loan Amount) x (365 / Term)

where Interest Paid is the total amount of interest paid on the loan.

Since Kaleb wants to borrow $375 and the fee for the loan is $37, the total amount that he would need to repay would be $375 + $37 = $412.

To achieve an APR of 40%, we can rearrange the formula and solve for the term:

Term = (Interest Paid / Loan Amount) x (365 / APR)

We know that the loan amount is $375, and we can solve for Interest Paid as follows:

Interest Paid = Total Amount Repaid - Loan Amount

Interest Paid = $412 - $375

Interest Paid = $37

Substituting the values into the formula, we get:

Term = ($37 / $375) x (365 / 40%)

Term = 0.0987 x 912.5

Term = 90 days

To learn more about loan click on,

https://brainly.com/question/13533820

#SPJ4

Providing options for comprehension, language, and perception would be consider as critical success factors for which udl principle for supporting variability?.

Answers

Providing options for comprehension, language, and perception is considered a critical success factor for the UDL (Universal Design for Learning) principle of "Representation".

The Representation principle emphasizes the importance of providing multiple ways of representing information to learners, so that they can access and comprehend the content in ways that work best for them. This can include providing information in multiple formats (e.g. text, audio, video), using different modalities (e.g. visual, auditory, kinesthetic), and providing options for language, perception, and comprehension.

By providing these options, learners can choose the representation mode that best fits their learning needs and preferences, which can help to optimize their learning outcomes. In other words, the Representation principle recognizes that there is no one-size-fits-all approach to learning, and that providing options for representation is essential for supporting learner variability and promoting inclusive education.

To learn more about variability  here

https://brainly.com/question/12872866

#SPJ4

Which type of decision making engages one or more group members in possible solutions? Consultative Autocratic Group Shareholder Select the best response to the following questions. What term refers to the relative structure of the problem being a factor in the quality of the decision making? Problem Goals Information Quality

Answers

The type of decision-making that engages one or more group members in possible solutions is consultative decision-making. Regarding the second question, the term that refers to the relative structure of the problem being a factor in the quality of the decision-making is "Problem".

Consultative decision-making involves seeking input and feedback from group members before making a final decision. This type of decision-making can help improve the quality of the decision and increase the commitment of group members to implement it.

The structure of the problem can affect the quality of decision-making because different problems require different approaches and decision-making processes. For example, a simple problem may require a quick decision, while a complex problem may require more time and effort to gather information, analyze options, and consult with others before making a decision.

To learn more about decision-making, refer: https://brainly.com/question/1249089

#SPJ11

A farmer has allocated 2000 acres of her farm for planting two crops. Crop A is more susceptible to frost than Crop B is. If there is no frost in the growing season, she can expect to make $40/acre from Crop A and $25/acre from Crop B. If there is mild frost, the expected profits are $20/acre from Crop A and $30/acre from Crop B. What profit could she expect to make using this optimal strategy

Answers

The optimal strategy is to allocate 1333 acres to Crop A and 667 acres to Crop B. With this strategy, the expected profit is $46,670.

To determine the optimal strategy, the farmer should allocate the crops in a way that maximizes her expected profit while taking into account the possibility of frost.

Let x is number of acres allocated to Crop A and y is the number of acres allocated to Crop B. The total acreage is 2000, so we have;

x + y = 2000

If there is no frost, the expected profit is;

Profit = $40x + $25y

If there is mild frost, the expected profit is;

Profit = $20x + $30y

In this case, we can solve the problem by using a simpler method called the "corner-point method."

The corner-point method involves evaluating the objective function at each corner point of the feasible region. The feasible region is the set of all possible combinations of x and y that satisfy the constraints.

In this case, the feasible region is the triangle with vertices at (0,2000), (1333,667), and (2000,0).

At the vertex (0,2000), we have x = 0 and y = 2000. The expected profit is;

Profit = $40x + $25y = $25(2000) = $50,000

At the vertex (1333,667), we have x = 1333 and y = 667. The expected profit is;

Profit = $20x + $30y = $26,660 + $20,010

= $46,670

At the vertex (2000,0), we have x = 2000 and y = 0. The expected profit is;

Profit = $40x + $25y = $80,000

Therefore, the expected profit is $46,670.

To know more about optimal strategy here

https://brainly.com/question/14413293

#SPJ4

The electric vehicle manufacturing company Tesla estimates that a driver who commutes 50 miles per day in a Model S will require a nightly charge time of around 1 hour and 45 minutes (105 minutes) to recharge the vehicle's battery (Tesla company website). Assume that the actual recharging time required is uniformly distributed between 90 and 120 minutes. A. Give a mathematical expression for the probability density function of battery recharging time for this scenario. 1 A. F(x) = for 90 < x < 120 30 0 elsewhere - { B. F(x) = 1 15 0 for 90 < x < 120 elsewhere re- {8 1 for 90 < x < 105 C. F() = 15 0 elsewhere The correct answer is: - Select your answer b. What is the probability that the recharge time will be less than 110 minutes (to 3 decimals)? c. What is the probability that the recharge time required is at least 100 minutes (to 3 decimals)? d. What is the probability that the recharge time required is between 95 and 110 minutes (to 3 decimals)?

Answers

a. The probability density function (PDF) of battery recharging time for this scenario is a uniform distribution between 90 and 120 minutes, which can be expressed as:

f(x) = 1/30 for 90 < x < 120
f(x) = 0 elsewhere

b. To find the probability that the recharge time will be less than 110 minutes, we need to calculate the cumulative distribution function (CDF) and evaluate it at x = 110:

F(x) = ∫f(t)dt from 90 to x
F(x) = ∫(1/30)dt from 90 to x
F(x) = (1/30) * (x - 90)

Therefore, the probability that the recharge time will be less than 110 minutes is:

P(X < 110) = F(110) = (1/30) * (110 - 90) = 2/3 = 0.667 (to 3 decimals)

c. To find the probability that the recharge time required is at least 100 minutes, we can use the complement rule and calculate the probability that the recharge time is less than 100 minutes, and subtract it from 1:

P(X >= 100) = 1 - P(X < 100)
P(X < 100) = F(100) = (1/30) * (100 - 90) = 1/3
P(X >= 100) = 1 - 1/3 = 2/3 = 0.667 (to 3 decimals)

Therefore, the probability that the recharge time required is at least 100 minutes is 0.667.

d. To find the probability that the recharge time required is between 95 and 110 minutes, we can calculate the difference between the CDF values at x = 110 and x = 95:

P(95 <= X <= 110) = F(110) - F(95)
P(95 <= X <= 110) = (1/30) * (110 - 90) - (1/30) * (95 - 90) = 5/6 - 1/6 = 2/3 = 0.667 (to 3 decimals)

Therefore, the probability that the recharge time required is between 95 and 110 minutes is 0.667.
Final answer:

The probability density function for this situation is F(x)=1/30 for 90

Explanation:

In this scenario, the charging time follows a uniform distribution and lies between 90 and 120 minutes. This means that each interval of charging time between 90 and 120 minutes is equally probable.

The probability density function for a uniform distribution is given by 1/(b-a), where a and b are the lower and upper limits, respectively. Therefore, the probability density function for this case should be F(x)=1/(120-90) = 1/30 for 90

To answer the rest of the questions:

b. The probability that the recharge time will be less than 110 minutes is given by the formula (x - a)/(b - a), for a<=x<=b. Plugging into this formula, we have (110 - 90)/(120 - 90) = 0.667.c. The probability that the recharge time is at least 100 minutes is given by 1 - the probability that the recharge time is less than 100 minutes. The result is 1 - (100 - 90)/(120 - 90) = 0.667. d. The probability that the recharge time is between 95 and 110 minutes is obtained by subtracting the probability that the recharge time is less than 95 minutes from the probability that the recharge time is less than 110 minutes. This gives (110 - 90)/(120 - 90) - (95 - 90)/(120 - 90) = 0.500.

These calculations enable us to understand the probability associated with the charging times of this electric vehicle.

Learn more about Probability here:

https://brainly.com/question/22962752

#SPJ2

Llungby AB spent 1,000,000 krone in 2020 on the development of a new product. The company determined that 25 percent of this amount was incurred after the criteria in IAS 36 for capitalization as an intangible asset had been met. The newly developed product is brought to market in January 2021 and is expected to generate sales revenue for five years. Assume that Llungby AB is a foreign company using IFRS and is owned by a company using U. S. GAAP. Thus, IFRS balances must be converted to U. S. GAAP to prepare consolidated financial statements. Ignore income taxes. Required: Prepare journal entries for development costs for the years ending December 31, 2020, and December 31, 2021, under (1) IFRS and (2) U. S. GAAP. Prepare the entry(ies) that the U. S. Parent would make on the December 31, 2020, and December 31, 2021, conversion worksheets to convert IFRS balances to U. S. GAAP

Answers

Journal entries for development costs for the years ending December 31, 2020, and December 31, 2021, under IFRS: Development costs 250,000 krone, Cash 250,000 krone

December 31, 2021: Development costs 750,000 krone Cash 750,000 krone

Journal entries for development costs for the years ending December 31, 2020, and December 31, 2021, under U.S. GAAP:

December 31, 2020:

Development costs 0

Cash 0

December 31, 2021:

Development costs 750,000 krone

Cash 750,000 krone

Under IFRS, development costs can be capitalized if certain criteria are met, including that the development costs can be reliably measured, it is probable that the future economic benefits will flow to the company, and the company has the ability to use or sell the intangible asset.

In this case, 25% of the 1,000,000 krone spent on the development of the new product can be capitalized, which amounts to 250,000 krone in 2020 and 750,000 krone in 2021. The journal entries for both years under IFRS involve debiting the Development Costs account and crediting the Cash account for the same amount.

Under U.S. GAAP, development costs are generally expensed as incurred, except for certain costs related to the development of computer software.

Therefore, there are no journal entries for development costs in 2020 under U.S. GAAP. However, in 2021, the capitalized amount of 750,000 krone under IFRS must be recorded as an intangible asset. Therefore, the journal entries under U.S. GAAP in 2021 involve debiting the Intangible Asset account and crediting the Cash account for the same amount.

Finally, when preparing consolidated financial statements, the U.S. parent company must convert the IFRS balances to U.S. GAAP using the appropriate exchange rate at the balance sheet date.

The conversion entries for both years involve translating the Development Costs and Cash accounts using the exchange rate in effect at each balance sheet date.

To know more about Journal entries, refer here:

brainly.com/question/28390337#

#SPJ11

Task 1: Record 5 typical company's transactions and prepare the Balance Sheet for the end of the day No Transactions ASSETS Account LIABILITIES & EQUITY Account Amount Amount 1 Company sells inventory worth 70 for 100 on credit (Accounts Receivable). Company collects Accounts Receivable worth 80 2 3 Company bus raw material on credit worth 50 (Accounts Payable) 4. Company takes a loan from a bank for 20. 5 Company pays wages to its workers 10

Answers

Company pays wages to its workers 10: This means that the company has paid wages to its workers worth 10. So, the Cash account decreases by 10, and the Equity account decreases by 10 (assuming that the company does not have any other liabilities).

Here's the balance sheet for the end of the day:

ASSETS

Inventory: 70

Accounts Receivable: 20

Raw Material: 50

Cash: 0 (since no cash transaction has taken place)

Total Assets: 140

LIABILITIES & EQUITY

Accounts Payable: 50

Bank Loan: 20

Equity: 70 (total assets - total liabilities)

Total Liabilities & Equity: 140

Company sells inventory worth 70 for 100 on credit (Accounts Receivable): This means that the company has sold goods worth 70 but has not received payment yet. So, the value of inventory decreases by 70, and an equal amount is added to the Accounts Receivable account.

Company buys raw material on credit worth 50 (Accounts Payable): This means that the company has purchased raw material worth 50 but has not paid for it yet. So, the value of Raw Material account increases by 50, and an equal amount is added to the Accounts Payable account.

Learn more about liabilities Visit: brainly.com/question/14921529

#SPJ4

Alternating periods of economic growth and contraction in real gdp define.

Answers

Alternating periods of economic growth and contraction in real GDP define business cycles.

Business cycles are characterized by the expansion and contraction of economic activity over time.

During the expansion phase of a business cycle, economic growth and employment rates increase, while inflation and interest rates remain low. In contrast, during the contraction phase, economic growth slows down, unemployment rates increase, and inflation and interest rates rise.

Business cycles can be affected by a variety of factors, including changes in government policies, technological advances, natural disasters, and global economic conditions.

Understanding business cycles can help individuals and businesses make informed decisions about investments, employment, and other economic activities.

To know more about economic growth refer to-

https://brainly.com/question/11679822

#SPJ11

Other Questions
PLEASE HELP!! 416 g of Xenon-146 was placed in a container to decay, if there is now 13g of Xenon- 146 left, how long has the Xenon been decaying? (the half-life of ^ 146 Xe is 37 hours) Please enter your answer as with one decimal place and with no units. 6. Suppose that demand and supply of Oragnges are described by the following equations: P = 200-6Q (demand) P = 40 +2Q (supply) a) Calculate the equilibrium price and quantity. Illustrate. Research and provide a description of the "talk test" and "breath test" as it relates to physical activity. Make reference to the anaerobic threshold in your answer. (10 marks: 3 definition, 2 reference to the anaerobic threshold) you must describe the test and how it is conducted. A) What are the effects of the talk test and breath sound check on the body? (2 marks) b) How do the tests relate to intensity level? (2 marks) 2) Why is it important for an athlete to get rid of CO 2 than take in O 2 ? (2 marks) 3) Why do trained subjects have a lower VE (Minute Ventilation) during exercise? Explain. (2 marks) 4) What is the relationship between the lactate threshold and ventilatory threshold? (2 marks) 5) Describe what VO2 max is and how it differs between a trained and untrained individual. (4 marks) 6) What is a Shallow Water Blackout? Explain how it happens in terms O2 and CO2 levels (4 marks) ** References should be embedded in the write up** The monomial -3xy2z(-2x2yz) has degree of: Hurry!!!!!! help pleaseee i reallllyyyy need help1. you may recall that the products of the complete combustion of a hydrocarbon are water vapor and carbon dioxide gas. write the balanced equation showing the combustion of methane. do not forget to include the states of matter of the reactants and the products. hint: methane is a gas at standard temperature and pressure. (2pts)balanced equation: ch4(g)+202(g) -> co2(g)+2h2o(g)to begin the experiment, 1.65g of methane ch4 is burned in a bomb calorimeter containing 1000 grams of water. the initial temperature of water is 18.98oc. the specific heat of water is 4.184 j/g oc. the heat capacity of the calorimeter is 615 j/ oc . after the reaction the final temperature of the water is 36.38oc.2. calculate the change in temperature, t. show your work. (1pt)3. calculate the heat absorbed by water. use the formula qwater = m c t show your work (2pts)4.calculate the heat absorbed by the calorimeter. use the formula: qcal = ccal t show your work. (2pts)5. the total heat absorbed by the water and the calorimeter can be calculated by adding the heat calculated in steps 3 and 4. the amount of heat released by the reaction is equal to the amount of heat absorbed with the negative sign as this is an exothermic reaction. (2pts)a.using the formula h = - (qcal + qwater ) , calculate the total heat of combustion. show your work. b. convert heat of combustion (answer from part a) from joules to kilojoules. show your work.6. evaluate the information contained in this calculation and complete the following sentence: (2pts)this calculation shows that burning _______ grams of methane [takes in] / [gives off] energy (choose one).7. the molar mass of methane is 16.04 g/mol. calculate the number of moles of methane burned in the experiment. show your work. (2pts)8. what is the experimental molar heat of combustion in kj/mol? show your work. (2pts)9. the accepted value for the heat of combustion of methane is -890 kj/mol . explain why the experimental data might differ from the theoretical value in 2-3 complete sentences. (2pts)10. given the formula: % error= |(theoretical value - experimental value)/theoretical value)| x 100 calculate the percent error. show your work. (2pts)11. a 29.7 gram piece of aluminum is sitting on a hot plate. a student accidentally left the hot plate on. the aluminum now is very hot and has to be cooled. you fill a beaker with 250 grams of water. the aluminum is placed in the water. you are curious so you place a thermometer in the beaker. the water warms from 22.3 c to 30.8 c. the c (aluminum) is 0.900 j/gc, and the c (water) is 4.18 j/gcdo you have enough information to calculate the amount of energy transferred in this situation? explain in 2-3 complete sentences. (1pt) What is the next value ?4 D 7 G 10 J 13 Find dy/dt at x = 1 if y = 2x^2 + 4 and dx/dt = 4. dy/dt =? Predict which substances would have the highest volatility. explain why. ch3ch2oh c6h6 ch3och3h2opredict which substances would have the highest surface tension. explain why. h2och4ch3och3ch3oh a large group of states or countries,usually ruled by one powerful leader Catering company provides packages for weddings and for showers. The cost per person for small groups ispproximately Normally distributed for both weddings and showers. The mean cost for weddings is $82. 30 with aandard deviation of $18. 20, while the mean cost for showers is $65 with a standard deviation of $17. 73. If 9eddings and 6 showers are randomly selected, what is the probability the mean cost of the weddings is more thane mean cost of the showers? When a 102 g mass is hung on a spring it stretches 4.0 cm. The spring is then set in SHM by stretching it a further 6.0 cm and then releasing it.a) Calculate the force required to stretch the spring 6.0 cm. discuss context switching as a cost factor. which os has a low cost of context switching? PLEASE HELPThere is a thought experiment about the law of large numbers and the finite combinations of letters in the english language that suggests that a room of primates banging away on typewriters will eventually produce the entire collected works of William Shakespeare. For an art installation you assemble just such a room, but noise ordinance states that you cant exceed 90 dB on this block. If you find that a single typewriter and monkey workstation has a relative intensity of 76 dB, what is the intensity of a single station and how many monkey-typewriter stations can you set up? What is the area of a triangle with vertices at (5,0), (-3,1) and (2,6)? 6 units squared 54 units squared 22. 5 units squared 36. 5 units squared Find the slope of the line representedby the data below.x 2 4 6 8-3 3939 15y|-3Simplify completely.Slope = [?Hint: The slope of a line is theChange in yChange in x College Level Trigonometry Question Any Help will do You get a part time job earning $12.50/hr. Tips are $4.60/hr average. Deductions are FICA (7.65%) and Federal Tax Withholding (10%). You work for 18 hours. What is your gross base pay? The thickness of paper manufactured at a manufacturing company is roughly symmetrical with a mean of 0. 0039 inch and a standard deviation of about 0. 00001 inch. A marketing manager wants to divide the values of the thickness of paper by 0. 0001 to make the values easier to manage. What are the mean and standard deviation of the thickness of paper after dividing by 0. 0001?The mean is ?inch. The standard deviation is ?inch John decides to spend two weeks traveling in japan. while he is there, he notices that, unlike americans, the japanese cover their mouths when laughing. he is observing Activity 1:Directions: Sort the words from the word bank into the correct box of tools, materials and equipment. Submit your finished work to your teacher in your scheduled day. Compass Ruler Triangular ScaleFrench CurveDrawing StoolDrawing TableProtractorEraserT-squareDusting BrushTriangle TemplatesTechnical PenTracing PaperDrawing PencilDRAFTING MATERIALSErasing ShieldMasking TapeDrafting Machine