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Galaxy International is a small privately held company in the Northeast U.S. which manufactures high- tech carbon composite skis for the U.S. market. The company has been in business for 20 years, has 125 employees, and has $50 million in annual sales. Its owner, Jeremy Riven, is an ex-Olympic skier who developed the proprietary technology and bonding polymers that give Galaxy skis their unique flexibility, durability, and propensity to need low maintenance—all of which serious skiers in the U.S. have come to prize. Major costs involved in the manufacturing of skis are oil polymers, carbon fiber, and labor. Ski technicians are highly skilled machinists, and manufacturing the finished product is as much an art form as it is a science.

 

Jeremy has recently considered an initial public offering (IPO) to allow the firm to raise the funds it needs to go international. The underwriting group from Morgan Stanley believes they could easily raise sixty (60) million in the equity markets, and fifty (50) million in the bond market. Jeremy is trying to determine the cost of debt, the cost of equity (four [4] million shares at $15/share), and the firm’s weighted average cost of capital if he goes public and issues corporate bonds with a coupon rate of 8%. Last year, the firm resided in a 28% tax bracket. The risk-free rate in the U.S. is 2%, and the expected return on the market is 14%. Morgan Stanley estimates Galaxy’s beta, if traded publicly, would be approximately 1.8%. Galaxy has been growing at 15% a year since its inception.

 

Jeremy would like to expand his current U.S. facility from 40,000 square feet to 100,000 square feet, automate certain processes which heretofore have been done manually, and outsource work to China, where he plans to either build or lease a plant to extend his ski line worldwide. He could build a 50,000- square-foot facility in Canton for fifty (50) million dollars, or lease a similar facility for ten (10) million a year. Annual operating costs would be twenty (20) million dollars, and projected free cash flow, based on past experience, would be twelve (12) million a year (whether he leases or buys). The life of the plant would be fifteen (15) years, and inflation in China is currently running at 6% annually. Galaxy would repatriate profits from the Chinese operation and consolidate them with those of the U.S. operations. All expenses of operating the plant in China would be in Yuan.

 

Use the Internet to locate information about current events in China related to its economic state.

 

(6-8) page paper

1. Examine the pros and cons of an IPO for Galaxy International. Recommend whether the company should or should not proceed with an IPO.

2. Evaluate the appropriateness of the financing alternatives and strategies that are available to Jeremy, and select the one (1) you believe best suits the company. Provide support for your rationale.

3. Determine the advantages of debt over equity, and what each would cost after taxes. Determine

Galaxy’s weighted average cost of capital (WACC) if it uses both alternatives to raise capital (i.e., debt and equity).

4. Recommend one (1) financial instrument that Jeremy could use in order to ensure a stable supply of oil for his operations and to protect his firm from currency translation losses.

5. Suggest one (1) approach that Jeremy can use to hedge his currency translation and transaction exposure to the Yuan. Provide support for your suggestion.

6. Determine whether Jeremy should lease or buy the plant in China. Justify your position using information regarding the current economic state in China.

7. Imagine that you are a portfolio manager. Determine whether or not you would want to participate in the IPO if Galaxy International goes public. Provide a rationale for your decision. Determine the expected return on the stock using Capital Asset Pricing Model (CAPM).

8. Determine if the Galaxy International’s expected returns would exceed its WACC. Provide a rationale.

9. Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites to not qualify as academic resources.

 formatting requirements:

·        Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

 

typed answer required with step by step explanation. 

 

strict due. 

 

you should check questions first if you can complete them and send me a handshake.

 

Write at least 350 words in which you consider personality. In your paper, include the following:

• Describe the different perspectives (psychoanalytic, humanistic, trait, social cognitive, and biological) on personality
• Explain how changeable or unchangeable you think personality is.

Note. Be sure to include an appropriate introduction and conclusion and properly cite any resources you use

The Final Paper must be between eight to ten pages long, using at least five (5) resources Format your rough draft according to APA (6th edition) style and properly cite all your resources.If you would like to refer to APA samples and tutorials, visit the Ashford Writing Center, within the Learning Resources tab in the left navigation bar, in your online course.

Writing the Final Paper
The Final Paper:

• Must be eight to ten double-spaced pages in length and formatted according to APA (6th edition) style as outlined in the approved APA style guide.
• Must use at least five academic resources in addition to the required text, at least two of which are found in Ashford Online Library. Wikipedia is an example of a source that is NOT acceptable.
• Must use APA style as outlined in the approved APA style guide to document all sources.
• Must include a cover page that includes:
  • Title of Paper
  • Student’s name
  • Course name and number
  • Instructor’s name
  • Date submitted
• Must include an introductory paragraph with a succinct thesis statement.
• Must conclude with a restatement of the thesis and a conclusion paragraph.
• Must include a Reference Page that is completed according to APA (6th edition) style as outlined in the approved APA style guide.

Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment.

For the following question, use this passage Love notes 1 How do you communicate when you’re in love? What do you say? What do you do non-verbally? According to research, you exaggerate your beloved’s virtues and minimize his or her faults. You share emotions and experiences and speak tenderly, with an extra degree of courtesy, to each other, “please,” “thank you,” and similar polite expressions abound. You frequently use “personalized communication.” this type of communication includes secrets you keep from other people and messages that have meaning only within your specific relationship. You create and use personal idioms(and pet names): words, phrases and gestures that carry meaning only for the particular relationship and that say you have a special language that signifies your special bond.(When outsiders try to use personal idioms- as they sometimes do -the expressions seem inappropriate, at times even an invasion of privacy.) clearly, communicating love is accomplished through a variety of ways. 2 Other ways of communicating love are seen in specific behaviors. You engage in significant self disclosure. There is more confirmation and less disconfirmation among lovers than among either non lovers or those who are going through romantic breakups. Consequently, you tend to agree with your loved one’s views and defend his or her beliefs. You’re highly aware of what is and is not appropriate to say to the person you love. You know how to reward, but also how to punish, each other. In short, you know what to do to obtain the reaction you want. 3 Non verbally, you also communicate your love. Prolonged and focused eye contact is perhaps the clearest nonverbal indicator of love. So important is eye contact that its avoidance almost always triggers a “what’s” wrong?” response. You also have longer periods of silence than you do with friends. In addition, you display affiliative cues( signs that show you love the other person), including head nods, gestures, and forward leaning. And you give Duchenne smiles- smiles that are beyond voluntary control and that signal genuine joy. These smiles give you crow’s- feet around the eyes, raise up your cheeks, and puff up the lower eyelids. 4 You grow more aware not only of your loved one but also of your own physical self. Your muscle tone is heightened, for example. When you’re in love you engage in preening gestures, especially immediately prior to meeting your love, and you position your body attractively- stomach pulled in, shoulders square, legs arranged in appropriate masculine or feminine positions. Your speech may even have a somewhat different vocal quality. There is some evidence to show that physical attraction enlarges the nasal membranes, which introduces a certain nasal quality into the voice. 5 You eliminate socially taboo gestures, at least in the presence of the loved one. For example, you curtail scratching your head, picking your teeth, cleaning your ears, and biting your fingernails. Interestingly enough, these adaptors often return after lovers have achieved a permanent relationship. 6 You touch more frequently and more intimately. You also use more “tie signs.” nonverbal gestures that show that you’re together, such as holding hands, walking with arms entwined, kissing, and the like. You may even dress alike. The styles of clothes and even the colors selected by lovers are more similar than those worn by non lovers. QUESTIONS 1) While surveying this article, which items should an effective reader first notice? a) The definitions of the difficult terms that are used b) The examples that support the important ideas c) The words in boldfaced type, italics, and the underlined words D) The information about avoiding taboos 2) Which of the following question would best help an effective reader focus on all the main ideas of this particular article? a) What is the definition of personalized communication? b) In what ways do people communicate their love for one another? c) What are the credentials of the author of this article? d) How do people communicate love non verbally? 3) The context clues in paragraph 1 suggest that the best definition of virtues is a) Credentials b) unacceptable traits c) good qualities d) importance 4) The best example of a personal idiom, as suggested in paragraph 1, might be- a) I’m so hurt. b) “I wuv you, jellybean.” c) “keep me in the loop” d) “I’m out of here 5) Identify the purpose of the last sentence of the first paragraph. Clearly, communicating love is accomplished through a variety of ways a) The last sentence is a major detail b) The last sentence is a minor detail c) The last sentence states the main idea d) The last sentence does not support the paragraph 6) The context clues in paragraph 2 suggest that the best definition of self-disclosure is- a) Revealing private information b) admiring another person’s dress c) bragging about one’s accomplishment d) gossiping about others 7) Examine the meaning of the following word part: Word part definitions Dis not Using the meaning of this word part and the context of the sentence, choose the best definition of disconfirmation in paragraph 2 a) Support b) trust c) revealing of secrets d) differing of opinion 8) The context clues in paragraph 3 suggest that the best definition of affiliative is- a) Unemotional b) disrespectful c) unexpressive d) loving 9) The context clues in paragraph 3 suggest that the best definition of a Duchenne smile is – a) a genuine and heartfelt smile b) an artificial smile c) a snide or sneering smile d) an evil smile that contains malice 10) Choose the topic sentence of paragraph 3 a) Non-verbally, you also communicate your love b) Prolonged and focused eye contact is perhaps the clearest nonverbal indicator of love c) So important is eye contact that its avoidance almost always triggers a “what’s wrong?” response d) You also have longer periods of silence than you do with friends 11) Which pattern of thought does the author use to express the ideas in paragraph 3 a) Listing b) time order c) classification d) contrast 12) Which words signal the relationship among the ideas in paragraph 3 a) Non verbally, prolonged, and these b) also, in addition, and and c) so and you d) clearest, so important, and display 13) Identity the purpose of the last sentence in paragraph 3. These smiles give you crow’s- feet around the eyes, raise up your cheek, and puff up the lower eyelids a) This is the stated main idea of the paragraph b) This sentence contains the last major details of the paragraph c) This sentence is minor detail d) This sentence that connects the ideas of this paragraph to the next paragraph 14) According to the context, an example of preening as expressed in paragraph 4 might be- a) Apathetic b) disrespectful c) combining your hair d) harmful 15) Choose the best topic for paragraph 4 a) Awareness of a loved one’s presence b) romantic speech c) preening gestures d) awareness of one’s physical self-disclosure 16) What is the purpose of the last sentence in paragraph 4 a) The last sentence states the main idea of the paragraph b) The last sentence states a second major detail of the paragraph c) The last sentence serves as a signal that contrasting information will follow d) The last sentence is a minor detail that supports the preceding sentence 17) The ideas in paragraph 4- a) flow from general to specific b) flow from specific to general c) are all general d) are all specific 18) According to the context, the word taboo in the 5th paragraph probably means – a) Acceptable b) recognizable c) unacceptable d) threatening 19) Which sentence expresses the main idea of paragraph 5 a) You eliminate socially taboo adaptors, at least in the presence of the loved one b) For example, you curtail scratching your head, picking your teeth, cleaning your ears, and bit ting your fingernails c) Interestingly enough, these adaptors often return after lovers have achieved a permanent relationship d) Paragraph 6 does not have a stated main idea. 20) Which sentence does not support the main idea of paragraph 5? a) You eliminate socially taboo adaptors, at least in the presence of the loved one. b) For example, you curtail scratching your head, picking your teeth, cleaning your ears, and bit ting your fingernails c) Interestingly enough, these adaptors often return after lovers have achieved a permanent relationship. d) All sentence in the paragraph support the main idea. 21) Which sentence expresses the implied main idea of the last paragraph? a) People in love touch each other more frequently. b) People communicate their love for one another by projecting a sense of togetherness. c) People in love sometimes dress alike. d) People communicate their love for one another by using nonverbal gestures 22) How many major details support the main idea of the last paragraph? A) one b) two c) three d) four 23) Which sentence states the central idea of the article? a) People who are in love use a special language to show their affection b) People have many ways that communicate their love for one another c) People use special signals to communicate with one another. d) Love is unique in many different ways. 24) According to this article, when you become romantically involved, you are more likely to- a) Keep the relationship a secret from everyone b) Criticize your partner c) Disagree with one another d) Exhibit behaviors and speech that project a unique sense of togetherness 25) Complete this partial outline from the following list A. Language 1. Sharing a personal thoughts and feelings 2. Using polite expressions 3) Using personal communication B—————————— 1.Engaging in self-disclosure 2. Exhibiting more confirmation 3) Engaging in acceptable dialogue C. Nonverbal responses 1. Prolonged eye contact 2. Periods of silence 3. Duchene smiles a) Disconfirmation b) Awareness c) Behavior d) Rewards