(20 points) Following are financial statement numbers and select ratios for Target Corp. for the fiscal year 2016. Current Forecast Horizon Terminal Year ($ millions) 2016 2017 2018 2019 2020 Total revenues $69,495 $71,580 $73,727 $75,939 $78,217 $78,999 Net operating profit after tax (NOPAT) 3,302 3,436 3,539 3,645 3,754 3,792 Net operating assets (NOA) 21,128 21,757 22,409 23,082 23,774 24,012 Forecast assumptions and other financial information for Target are as follows: Revenue growth 3% Net operating profit margin (NOPM) 4.8% Net operating asset turnover (NOAT) 3.29 Terminal growth rate 1% Discount rate 7% Shares outstanding in millions 556.2 Stockholders' equity $10,953 Net nonoperating obligations (NNO) $10,175 Required: a. Use the discounted free cash flow (DCFF) model to estimate the value of Target’s equity, per share at fiscal year-end 2016. b. Target Corp. shares closed at $53.82 per share on March 8, 2017, the date the 10-K was filed with the SEC. How does your valuation compare with this closing price?

The hawthorne works was a large western electric factory with 45,000 employees. during the 1920s and 1930s, hawthorne works was the site of some well-known industrial studies. in one of the studies, researchers investigated the impact of different working conditions on worker productivity. prior to the start of the study, researchers secretly measured workers' productivity for several weeks. then researchers chose two workers, who then chose their own teams. the teams were separated from the general workforce and completed their work in different experiment rooms where the researchers could observe them more easily. over a 5-year period researchers manipulated the structure of the workday for each team (number and duration of breaks and number of hours per shift). for each of these changes in working conditions, the researchers measured the effect on productivity. for some conditions, such as frequent short breaks, workers rebelled by intentionally decreasing productivity.why did the researchers secretly measure the workers' productivity before creating the two treatment groups? a, to create similar treatment groups so that a cause-and-effect relationship could be establishedb, to draw conclusions about the productivity of all workers in the plant based on the test groupsc, to directly control for confounding variablesd, to provide a baseline for measuring worker productivity

The following information is available for jase company: market price per share of common stock $25.00 earnings per share on common stock $1.25 which of the following statements is correct? a. the price-earnings ratio is 20 and a share of common stock was selling for 20 times the amount of earnings per share at the end of the year. b. the market price per share and the earnings per share are not statistically related to each other. c. the price-earnings ratio is 5% and a share of common stock was selling for 5% more than the amount of earnings per share at the end of the year. d. the price-earnings ratio is 10 and a share of common stock was selling for 125 times the amount of earnings per share at the end of the year.

Profits from using currency options and futures.on july 2, the two-month futures rate of the mexican peso contained a 2 percent discount (unannualized). there was a call option on pesos with an exercise price that was equal to the spot rate. there was also a put option on pesos with an exercise price equal to the spot rate. the premium on each of these options was 3 percent of the spot rate at that time. on september 2, the option expired. go to the oanda.com website (or any site that has foreign exchange rate quotations) and determine the direct quote of the mexican peso. you exercised the option on this date if it was feasible to do so. a. what was your net profit per unit if you had purchased the call option? b. what was your net profit per unit if you had purchased the put option? c. what was your net profit per unit if you had purchased a futures contract on july 2 that had a settlement date of september 2? d. what was your net profit per unit if you sold a futures contract on july 2 that had a settlement date of september 2