Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property. To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Question

Hilton Hotels Corporation has a convertible bond issue outstanding. Each bond, with a face value of $1,000, can be converted into common shares at a rate of 61.2983 shares of stock per $1,000 face value bond (the conversion rate), or $16.316 per share. Hilton’s common stock is trading (on the NYSE) at $15.90 per share and the bonds are trading at $975. a. Calculate the conversion value of each bond. (Round your answer to 2 decimal places. (e.g., 32.16)). (974.50 was wrong)

Answer 1

Question

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

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Hilton Hotels Corporation has a convertible bond issue outstanding. Each bond, with a face value of $1,000, can be converted into common shares at a rate of 61.2983 shares of stock per $1,000 face value bond (the conversion rate), or $16.316 per share. Hilton’s common stock is trading (on the NYSE) at $15.90 per share and the bonds are trading at $975. a. Calculate the conversion value of each bond. (Round your answer to 2 decimal places. (e.g., 32.16)). (974.50 was wrong)

Consider an investor who, on January 1, 2022, purchases a TIPS bond with an original principal of $100,000, an 8 percent annual (or 4 percent semiannual) coupon rate, and 10 years to maturity. If the semiannual inflation rate during the first six months is 0.3 percent, calculate the principal amount used to determine the first coupon payment and the first coupon payment (paid on June 30, 2022). From your answer to part a, calculate the inflation-adjusted principal at the beginning of the second six months. Suppose that the semiannual inflation rate for the second six-month period is 1 percent. Calculate the inflation-adjusted principal at the end of the second six months (on December 31, 2022) and the coupon payment to the investor for the second six-month period.

A municipal bond you are considering as an investment currently pays a yield of 6.75 percent. Calculate the tax-equivalent yield if your marginal tax rate is 28 percent. Calculate the tax-equivalent yield if your marginal tax rate is 21 percent.

Answer 2

Question

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

Expert Solution & Answer

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Answer 3

Question

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

Expert Solution & Answer

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Answer 4

Question

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

Expert Solution & Answer

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Answer 5

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

Answer 6

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Answer 7

Chapter 13, Problem 8BCP

(a)

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. There was a condition mentioned in the contract that the fees of the real estate broker would be paid in case someone bought the property.

To find: Whether JS and JR are entitled to pay person T, even though she was not present to show the townhouse to the couple.

Answer 8

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Answer 9

Summary Introduction

Case summary: Person T, a real estate broker voluntarily, went on and showed a townhouse to the couple named JS and JR. The owner of the townhouse was R and H. In the absence of T, due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The obligation of the parties involved in the business deals.

Answer 10

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

Answer 11

Summary Introduction

Case summary: Person T, a real estate broker, voluntarily went on and showed a townhouse to a couple named JS and JR. The owner of the townhouse was R and H. In the absence of T due to some religious belief, JS and JR revisited the townhouse with an objective to purchase it and agreed to purchase on the same day. A condition was mentioned in the contract which clearly stated that the fees of the real estate broker would be paid by the buyer.

To find: The ways in which this situation could have been avoided.

Answer 12

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Answer 23

Ch. 13 - Prob. 1RE Ch. 13 - Prob. 2RE Ch. 13 - Prob. 3RE Ch. 13 - Prob. 4RE Ch. 13 - Prob. 1IS Ch. 13 - Prob. 2IS Ch. 13 - Prob. 1BS Ch. 13 - Prob. 2BS Ch. 13 - Prob. 3BCP Ch. 13 - Prob. 4BCP

Solution Summary: The author explains that person T showed a townhouse to the couple named JS and JR. The contract states that the buyer is liable for paying the fees of the real estate broker.

Chapter 13 Solutions