You have recently been hired as a Financial Analyst in the Finance Department of Zeta Auto Corporation which is seeking to expand production. The CFO asks you to help decide whether the firm should set up a new plant to manufacture the roadster model, the Zeta Spenza. Deliverables: Write a report providing the CFO with your recommendation whether Zeta should set up the plant to produce the Spenzas and support your recommendation by in-depth analysis in Excel. In your report, explain the results of each portion of your analysis (represented by the tabs on the Excel template).
Introduction:
You have recently been hired as a Financial Analyst in the Finance Department of Zeta Auto Corporation which is seeking to expand production. The CFO asks you to help decide whether the firm should set up a new plant to manufacture the roadster model, the Zeta Spenza.
Deliverables:
Write a report providing the CFO with your recommendation whether Zeta should set up the plant to produce the Spenzas and support your recommendation by in-depth analysis in Excel. In your report, explain the results of each portion of your analysis (represented by the tabs on the Excel template). Submit all the completed Excel worksheets with the completed responses to the questions posed to support your report and recommendation. Report should include a one-page Executive Summary summarizing the results of your analysis and recommendation.
Project Data
To assess the suitability of the project you begin by listing the various cash flows. A consultant has been paid $50,000 to do a market survey. She reports back that Zeta can price Spenzas at $80,000 per car and sell 5,000 cars next year (in year 1), then sales will peak at 7,000 in year 2 and after that they will start declining with 6,000 Spenzas sold in year 3, 4,000 in year 4, and 3,000 in year 5. After that the sales decline won’t make manufacturing of Spenzas profitable. The consultant also estimates that introduction of Spenza model will cannibalize the sale of an existing model, the Zeta Monza, resulting in 1,000 fewer units of the Monza sold in each of the 5 years. Monzas are priced at $65,000.
After 5 years it is expected the Spenza will be phased out, and the plant will be put to other uses generating cash flow of $15 M annually.
The cost of setting up the plant is to be $250 M with annual manufacturing capacity of 10,000 cars. It is a one-time capital investment made at the very beginning of the project. In addition, at the beginning of each year the plant will require an outlay of Net Working Capital equal to 4.75% of direct manufacturing costs (excluding labor and overheads) in the coming year. The NWC outlay will be recovered at the end of the project in year 5.
The CFO provided you with historical information about Monzas cost structure (Excel sheet attached) and noticed that Spenza will have the following differences:
· Spenzas body will be made from reinforced carbon, which makes the car lighter, thus significantly improving mileage range per battery charge. About 80% of the carbon cost is the cost of energy and the estimated carbon cost body per car of $14,000 is based on electricity cost of 7 cents /per kWh, which is the current cost of electricity in Michigan, where the plant will be located. This cost is 70% of the average nationwide retail electricity price. EIA nationwide electricity cost projections for future years are provided in the Excel sheet.
· Battery Pack cost for Spenza is $15,000 per car.
· Cost of materials for engine and other parts will be identical to Monzas.
· Labor cost of $4,000 per car is based on annual production of 10,000 Spenzas. Labor is unionized; number of workers and wages do not depend on the number of units produced.
· Overheads at the new plant will be identical to total overheads at the existing Monza plant.
IRS allows you to straight line depreciate the cost of the plant over 4 years for tax purposes (equal depreciation in all years and not an accelerated schedule of depreciation). You have a choice to use 3 year MACRS depreciation schedule (see the Excel sheet attached)
If you recommend setting up the plant, you should also consider that the plant will occupy a piece of land which the firm could put to other uses. These alternative uses would earn the firm $15 M annually.
Modeling Financial Metrics and Cash Flows
Depreciation
You have to decide whether Zeta should set up the plant to produce the Spenzas by answering the following series of questions. After having enumerated the various cash flows you are now ready to analyze the project using capital budgeting techniques and project analysis methods.
· What will be the depreciation for tax purposes from the investment in the Spenza plant using the straight line method? What will be the depreciation using MACRS? Which schedule would you recommend to use?
EBIT
· What will be the costs and revenues for the first four years? What will be the incremental EBIT (Earnings before Interest and Taxes) each year?
Interest and Taxes
You now have to need to determine interest costs and taxes. Assume that the cost of setting up the plant will be 50% financed by debt with an interest rate of 7%.
At this point you are getting closer to the cash flows the project will produce, and need to determine the tax rate. You research tax rates and determine that the appropriate tax rate after the tax reform is 21%.
· What incremental taxes Zeta will pay if the Spenza plant is set up?
Net Income
· What will be the Net Income for Zeta from the project each year?
Incremental OCF
Now you can calculate the net increase in cash flows from the project.
· What will be the incremental OCF (Operating Cash Flow) each year?
Free Cash Flow
The next step will be calculating FCF taking into account OCF and other incremental cash flows, including opportunity costs!
· What will be the FCF (Free Cash Flow) each year?
WACC and CAPM
The next step will be estimating WACC. Using Yahoo Finance! or other financial sources available on the course website find auto-making industrys beta, market risk premium and the risk free rate.
· Estimate the WACC using the earlier assumption about the projects financing and the CAPM equation for the cost of equity.
Decision Criteria NPV and IRR
Now you are ready to calculate the first criterion that is used to assess projects.
· What will be the Net Present Value of the project?
You should also calculate another widely used criterion.
· What will be the IRR of the project?
Analyzing Risk using Scenario Analysis
You consider the electricity cost and projected sales volume as two major factors affecting your variable costs and revenues. Therefore, you would like to perform some additional analysis to check the projects sensitivity to electricity costs and to sales volumes. You want to analyze these two factors separately, one at a time.
As was mentioned EIA has several electricity cost projections (Excel sheet, tab Energy Prices Forecast). First you decide to see how your recommendations might change under different cost scenarios.
· Perform scenario analysis on the electricity cost and present the summary of results.
Given uncertainty of sales volume forecast, you would like to look at optimistic and pessimistic scenarios for sales. Optimistic scenario assumes sales volume to be 500 cars more than predicted (i.e., 5,500 cars in year 1, 7,500 in year 2 etc.). Pessimistic scenario assumes sales volume to be 500 cars less than predicted (i.e., 4,500 cars in year 1, 6,500 in year 2 etc.).
· Run scenario analysis on the sales volume and present the summary of results.
Break-even Analysis
Next, you would like to find the maximum electricity cost in year 1 at which the project would still be advisable. For simplicity assume 0.5% annual growth of electricity costs.
· Find the break-even value for the electricity cost in year 1.
Monte Carlo Simulation (extra credit 5%) ATTENTION, THIS PART IS OPTIONAL
Finally, you would like to perform a Monte Carlo simulation. Possible distribution assumptions are provided in Excel Spreadsheet tab Crystal Ball Simulation, but you are welcome to make (and explicitly state) your own and use Random Numbers generator in Data Analysis Pack.
· Based on your analysis, what is the probability that the project will be profitable?
[
Crystal Ball] You also want to estimate the sensitivity of your project to different factors.
· Using Crystal Ball, please create a Tornado Diagram and discuss its results.
Cyber espionage has become common in the last decade. Can you name at least two cyber espionage incidents that occurred in 2020-2021?
Instructions
In order to complete Assignment #3 you will need to answer the below questions. Please complete the questions in a Word document and then upload the assignment for grading. When assigning a name to your document please use the following format (last name_Assignment #3). Use examples from the readings, lecture notes and outside research to support your answers. The assignment must be a minimum of 1-full page in length with a minimum of 2 outside sources. Please be sure to follow APA guidelines for citing and referencing sources
Cyber espionage has become common in the last decade. Can you name at least two cyber espionage incidents that occurred in 2020-2021?
Do you believe the United States plays a key role in cyber espionage?
Accountants rely heavily on using Excel to perform a wide range of activities to record transactions and report their results. Identify and discuss at least three (3) tools an accountant can use to make the recording and reporting of accounting transactions efficient and effective.
Discussion, Problem EA1-A2 (chapter 1), Problem EA2-A2 (Chapter 2).
Discussion: “Enhancing Our Use of Excel”
Accountants rely heavily on using Excel to perform a wide range of activities to record transactions and report their results. Identify and discuss at least three (3) tools an accountant can use to make the recording and reporting of accounting transactions efficient and effective.
Watch TV show or movie could be said to represent a subculture of mainstream society. From your chosen example: How are each of the four components of culture (language, values, norms, and symbols) identified as a subculture or counterculture of mainstream American culture?
Sociologywk4.docx
You dont need textbook to do this assignment. Work is online
1. Using the textbook, define each of the four components of culture: language, values, norms (behaviors), and symbols. Be sure to paraphrase and cite your sources if applicable.
2. Next, choose a popular or your favorite television show of your choice-(examples may include
The Simpsons,
The Big Bang Theory,
Modern Family,
Orange is the New Black) or a movie you have enjoyed.
For your chosen show or movie, provide specific examples for each component of culture (language, values, norms, and symbols) found within your show or movie.
· Each TV show or movie could be said to represent a subculture of mainstream society. From your chosen example: How are each of the four components of culture (language, values, norms, and symbols) identified as a subculture or counterculture of mainstream American culture?
Finally, choose 1 of the following theorists: Emile Durkheim, Karl Marx, or Charles H. Cooley. (Each of these theorists would view culture differently- you may refer to our text: Chap. 2 and 4 to assist you with this area of your essay) What does your chosen theorist say about the role of culture in shaping human behavior?
Public policy can be used to provide more incentives for conserving and penalties for consuming. For example, raising the gasoline tax by 50 cents or $1 per gallon would create pressure for smaller and more fuel-efficient vehicles. These taxes could be used to support mass transit. Large tax credits could be given for using sustainable energy such as solar and wind power, and prices for natural gas and electricity could be increased. This would encourage energy conservation and the greater use of renewable energy. Tax incentives could be provided for making existing housing more energy efficient. Building codes could be changed to require greater energy efficiency and the use of renewable building products. Greater efforts could be made to encourage or require recycling. The use of hazardous chemicals could be banned. Corporations could be taxed for the depletion of resources and for pollution. This might encourage greater environmental responsibility. Tax credits for children could be capped at two children. This would be an attempt to limit population growth. What is your opinion of measures such as these?
Public policy can be used to provide more incentives for conserving and penalties for consuming. For example, raising the gasoline tax by 50 cents or $1 per gallon would create pressure for smaller and more fuel-efficient vehicles. These taxes could be used to support mass transit. Large tax credits could be given for using sustainable energy such as solar and wind power, and prices for natural gas and electricity could be increased. This would encourage energy conservation and the greater use of renewable energy. Tax incentives could be provided for making existing housing more energy efficient. Building codes could be changed to require greater energy efficiency and the use of renewable building products. Greater efforts could be made to encourage or require recycling. The use of hazardous chemicals could be banned. Corporations could be taxed for the depletion of resources and for pollution. This might encourage greater environmental responsibility. Tax credits for children could be capped at two children. This would be an attempt to limit population growth. What is your opinion of measures such as these? Can a sustainable future be achieved without severely damaging the economy and undermining individual rights?
Case study: A 25-year-old woman presents for evaluation of right-sided breast pain. She reports the onset suddenly 7 days ago. She has never been pregnant, her menses occur monthly, and she is using combined oral contraceptive pills as her method of contraception. She denies significant medical and surgical history, no change in weight, and has no first degree or family relatives with breast cancer, either maternally or paternally. What portion of the physical exam is of most concern for the APRN? Provide three differential diagnoses based on the case presented.
week1-womensshealth.docx
Week 1 Discussion
Breast Conditions
A 25-year-old woman presents for evaluation of right-sided breast pain. She reports the onset suddenly 7 days ago. She has never been pregnant, her menses occur monthly, and she is using combined oral contraceptive pills as her method of contraception. She denies significant medical and surgical history, no change in weight, and has no first degree or family relatives with breast cancer, either maternally or paternally. What portion of the physical exam is of most concern for the APRN? Provide three differential diagnoses based on the case presented. Her Pap smear 2 years ago was normal, and she is sexually active with one male partner. Her last menstrual period was 3 weeks ago and today is day 22 of her cycle. She denies trauma to the chest area, has no nipple piercings, and no significant breast stimulation during sexual activity. She does not practice monthly breast exams and her last clinical breast exam was 2 years ago. She drinks socially approximately 2 alcoholic beverages per week and does not smoke or use illicit substances.
Using the Master of Science in Nursing Clinical Note format
1. What portion of the physical exam is of most concern for the APRN? Provide three differential diagnoses based on the case presented.
3. Please list the plan/intervention for management for this condition.
How do the traditional learning and online learning methods compare in effectiveness for college students globally?
2
Is Online Learning Effective?
Education has undergone various transformations over the last two decades. Some of the major transformations have been greatly influenced by external factors like technology and the 2019 Covid pandemic. The evolution of technology over the same period has greatly influenced learning with the growth of the internet leading to an increase in online learning. The Covid-19 pandemic led to an increase in online learning as physical attendance to classes was banished.
Online learning has gained prominence over the last three years with more students preferring it to traditional learning methods. This study is supposed to show whether online learning is effective an aspect that will help more students in picking the learning method. The significance of this paper is to show whether online learning is effective through the various research papers that have been carried out.
Research Question
How do the traditional learning and online learning methods compare in effectiveness for college students globally?
Research Methodology
This study aims to show whether online learning is effective. Online learning has gained prominence over the last five years with more students preferring this learning method than traditional learning methods. To show the effectiveness or ineffectiveness of online learning, secondary data will be used for the study. The study will use previous studies on the effectiveness or ineffectiveness of online learning. The data will be sourced from the internet.
Preliminary Supposition and Implications
Some of the studies on online learning have been inconclusive (Abuhmaid & Jarrah, 55). However, in comparison to the COVID-19 period, online learning was effective and has, over the years, gained prominence. This study is supposed to show its effectiveness by gathering data from other studies.
Online learning is effective, and thats why it has gained prominence over the last five years. During the COVID-19 pandemic, when classes had been suspended, online learning was effectively used to ensure learning did not stop (Ali et al., 578). One of the satisfactions gained by online learning is quick feedback from lecturers to students (Tran, 107).
Conclusion
There is a lot of study to explore on the effectiveness of online learning to offer a comparison with traditional learning methods. This makes the topic of great importance, as the information gained can be used to make important recommendations on online learning. The impact that certain worldwide issues, such as COVID-19, has proven to use that the impact of online learning is very important.
References
Abuhmaid, Atef, and Hani Jarrah. “Education Leaders’ Perception on the Effectiveness of Online Learning during the COVID-19 Crises in UAE Universities.”
Nurture 16.2 (2022): 54-64.
Ali, Qamar, et al. “Exploring the Students Perceived Effectiveness of Online Education during the COVID-19 Pandemic: Empirical Analysis Using Structural Equation Modeling (SEM).”
Behavioral Sciences 13.7 (2023): 578.
Tran, Van Dat. “Perceived satisfaction and effectiveness of online education during the COVID-19 pandemic: The moderating effect of academic self-efficacy.”
Higher Education Pedagogies 7.1 (2022): 107-129.
Consider the monthly stock price data for Microsoft Corporation attached as MSOFT23 and answer the following .A. Estimate the following regression model by using MSFT stock price as dependent variable and SP500 market index and time trend dummies as independent variables. Use the full sample and report the estimation output and residual graph from EViews/R program. MSFTt = b0 + b1 SP500t + b3 Time + b4 Time2 + et B. Discuss important statistics in the estimation output above and the characteristics of residual distribution. Can you tell whether the autocorrelation and heteroscedasticity problems exist in the estimation by just looking at the residuals? Why or why not?
Consider the monthly stock price data for Microsoft Corporation attached as MSOFT23 and answer the following .A. Estimate the following regression model by using MSFT stock price as dependent variable and SP500 market index and time trend dummies as independent variables. Use the full sample and report the estimation output and residual graph from EViews/R program. MSFTt = b0 + b1 SP500t + b3 Time + b4 Time2 + et B. Discuss important statistics in the estimation output above and the characteristics of residual distribution. Can you tell whether the autocorrelation and heteroscedasticity problems exist in the estimation by just looking at the residuals? Why or why not? C. Perform the DW test and find if the autocorrelation problem exists among the residuals. D. Perform the Breush-Pagan test and find if the heteroscedasticity is a problem in the estimation. Show the testing results and explain. E. Re-estimate the regression in A after removing the autocorrelation problems. Report your final estimation results and residuals. Explain how you were able to correct the autocorrelation problem in this estimation
The following guiding questions are for the PDF reading, “Chapter 6: Halloween” by Kendall R. Phillips.Prior to reading this chapter, what were your views if any on this slasher film classic? What is the main argument Phillips makes about Michael Myers as a archetype in the horror film genre?
The following guiding questions are for the PDF reading, “Chapter 6: Halloween” by Kendall R. Phillips.Prior to reading this chapter, what were your views if any on this slasher film classic? What is the main argument Phillips makes about Michael Myers as a archetype in the horror film genre?
Identify at least three musical characteristics that were essential to early African American music. For each of those characteristics, explain how they functioned in slave songs or ring shouts, and how they functioned in early blues styles or spirituals.2. Compare/contrast country blues and classic blues: discuss the musical and/or cultural origins of each style, explain three musical characteristics of each style, and identify the relative commercial success of each style. Name two country blues performers and two classic blues performers.
1. Identify at least three musical characteristics that were essential to early African American music. For each of those characteristics, explain how they functioned in slave songs or ring shouts, and how they functioned in early blues styles or spirituals.2. Compare/contrast country blues and classic blues: discuss the musical and/or cultural origins of each style, explain three musical characteristics of each style, and identify the relative commercial success of each style. Name two country blues performers and two classic blues performers.
