1. a) compute the asset beta of midland (as a whole). b) compute the wacc (with taxes) for midland. 2. a) estimate the asset beta for the exploration & production division. b) compute the wacc (with taxes) for the exploration & production division. 3. a) estimate the asset beta for the refining & marketing division. b) compute the wacc (with taxes) for the refining & marketing division. 4. given the data in the case, how would you estimate the asset beta and the wacc for the petrochemical division? a qualitative response (with some rough calculations) will suffice. note: i am looking for an explanation other than that of identifying/using suitable comparables for the petrochemicals division. 5. should midland compute and use a separate cost of capital for each of its divisions? explain.

Salvador county issued $25 million of 5% demand bonds for construction of a county maintenance building. the county has no take-out agreement related to the bonds. it estimates that 20% of the bonds would be demanded (called) by the buyers if interest rates increased at least 1%. at year-end rates on comparable debt were 7%. how should these demand bonds be reported in the government-wide financial statements at year-end? a) $25 million in the long-term liability section of the governmental activities column. b) $5 million in the current liability section of the governmental activities column and $20 million in the long-term liabilities section of the governmental activities column. c) $5 million in the governmental activities column and $20 million would be reported in the schedule of changes in long-term debt obligations. d) $25 million in the current liability section of the governmental activities column

Why is it vital to maintain a designer worksheet? a. it separates the designs chosen for the season from those rejected by the company. b. it keeps a record of all designs created by the designer for a season. c. it charts out the development of an entire line through the season and beyond. d. it tracks the development of a design along with costing and production details. done

Use the following account numbers and corresponding account titles to answer the following question. account no. account title (1) cash (2) merchandise inventory (3) cost of goods sold (4) transportation-out (5) dividends (6) common stock (7) selling expense (8) loss on the sale of land (9) sales which accounts would appear on the income statement?