Tuesday, May 26, 2020
Essay Samples For College Students - Get Yours Presented to the College EntranceIf you are one of the many college students who are attending school these days, then the time is really not for you to learn how to craft and submit an essay. Now that writing essays has become a fashion, more students are given this task each year. You will no doubt find the idea that writing your own essay is exciting as well as challenging, especially for those who have not ever written an essay in their lives.Many people enjoy taking online essay writing assignment essays because the task can be done from the comfort of their own home or office. When you submit your essay samples for college students, be sure to consider some aspects before you submit.First and foremost, ensure that you complete all the pieces of work for your composition. All you have to do is follow the steps given in the lesson plan, study the textbook, and do homework. There are also instructors who will give you guidance on this .There are free essay samples and money back guarantee as well as online research tools that are available for you to check out. Even if you feel that there is no need for you to submit your essay samples for college students, there is no harm in doing so. After all, you will be pleased if you have written something worth reading and sharing with the whole class.The scholarship essay examples have numerous ways for you to submit your work. You can take the help of a program which will guide you through the steps that you need to do in order to submit your essay samples for college students. The same can be said about online research tools such as the official scholarship essays site where you can get advice on getting into college and how to make sure that you get accepted.The admissions essay usually takes about two weeks to write and include a certain number of points that should be covered. The essay samples for college students have almost no meaning since it is in the admission s essay which you want to impress the college admissions committee. But most likely, they are going to ask you for your introduction, relationship with the professor, and activities you participated in during your years in school.If you want to know the best way to get accepted to college, then the best way to get accepted is to take the scholarship essay samples for college students and submit it. The fact that you have done something really important to get accepted means that you are going to get a better chance at getting into college.
Saturday, May 16, 2020
A vibration can result in an absorption peak of infrared radiation, only if there is a change in the dipole moment of the molecule. The larger this change, the more intense will be the absorption band. Furthermore, the electron polarity vectors in the covalent bond should not cancel out i.e the covalent bonds must be asymmetric. Asymmetrical bonds carry a net polarity vector and show absorption peaks; bonds that are centered along the plane of symmetry cancel out their polarity vectors upon stretching and there is no net change in dipole moment. Such molecules are known to be infrared inactive. An infrared spectrum is the plot of absorbance (or % transmission) against the wavenumber (cm-1) (Rehman et al., 2012). Wavenumber is defined as number of waves in a length of one centimeter and is a commonly used unit for representing spectral regions. Wavenumber is linear with energy and is expressed with the following equation.Significant parts of the spectrum are the regions where the molecule absorbs the infrared energy. These are shown as characteristic absorption peaks. A molecule can only absorb radiation when the incoming infrared radiation is of the same frequency as one of the fundamental modes of vibration of the molecule (Stuart and Barbara, 2004). The modes of vibration usually encountered include bending, stretching, wagging and out of plane vibrations. These molecular vibrations result in changes in dipole moments of the molecular groups and the resulting vibratingShow MoreRelatedConduction, Convection, and Radiation1525 Words Ã |Ã 7 PagesConduction, Convection, and Radiation By: Spencer Smith Physics 2010 Ã¢â¬â Online Dr. Stone 30 April 2014 Physics is a controlling factor in our vast universe. It literally controls how our reality operates and how our existence came to be in this universe, it actually it what made our universe. When you think about physics you probably think about friction and forces but it is a much broader idea. Physics is what controls how the atoms that make up everything work with each other to formRead MoreGlobal Warming : Physics And Its Outcome On The World1528 Words Ã |Ã 7 PagesGlobal Warming: Physics and Its Outcome on the World People complain about hot summers, and to cold of winters, why it would still be snowing during May in North East, Ohio. These temperature changes could all be a result of one thing, global warming. Global warming is a change in temperature due to gases and solutions humans put into the environment. The gases and solutions effect the natural gases in the environment that maintain the temperatures around the world. Although that is how global warmingRead MoreRemote Sensing Essay844 Words Ã |Ã 4 Pagesaddition, nonliteral imagery also provides interpreters a visual representation of objects in dark conditions. There are two sensors that improve vision at night: long wave infrared radiation and image intensifier. The former uses differences in heat within an area to produce a thermal visual, and the latter uses detected infrared radiation with both short and long wavelengths to create a clear visual. Sensors can be used alone or together to provide clearer images in dark condition. Human interpretersRead MoreThe Sun : Thermal And Electromagnetic Processes Essay2139 Words Ã |Ã 9 Pagesis the antimatter counterpart of the electron. They both have the same mass, but an opposite charge. When the two collide, a positron and an electron, they annihilate each other and all their mass is converted to energy in the form of gamma ray radiation. As mentioned before, this energy takes approximately 1 million years to move from the core of the Sun to the photosphere. During this time, the photons bounce off the dense gas particles that make up the Sun. As a product of these collisionsRead MoreUBT1 Task 1 Essay922 Words Ã |Ã 4 PagesÃ¯ » ¿ZBT1 Task 1: Wave Physics Ian Trimble Student ID: 000352590 Introduction We benefit greatly the benefits of long distance communication, eating food from different parts of the countries without fear of spoilage, radiation treatment, and heating up food in a matter of minutes, and a myriad of other wonders all do the wonders of waves, be they sound waves as well as light waves. In this timeline, we will look at all of the different light waves, their history, and their benefits. Annotated TimelineRead MoreThe Big Bang1460 Words Ã |Ã 6 Pagesplanets asteroids, comets and moons. For millennia, humans have attributed the workings and beauty of the cosmos to the divine. Slowly, we learned that laws governed the motion of these celestial bodies, laws which would come to be known as the laws of physics. It was not a god that was making the planets orbit the sun, but gravity. Through observations, mankind learned of new laws, and discarded old ones that no longer matched the observations. Eventually, a prediction was made as to the very origins ofRead MoreCan You Bake Cookies Only Using Sunlight?1007 Words Ã |Ã 5 Pagesheat inside the same way gases in our atmosphere trap them. Then bake some delicious cookies. What Study of Science is this under? The study of science is Physics. Physics means the natural science which involves the study of things made up atoms or matter, and along with related concepts such as energy and force. The experiment is Physics because we are using heat from the sun, and transferring the heat to the oven. So heat or thermal energy is the measure of the amount of energy that is containedRead MoreThe Socio Scientific Issue Of Global Warming Essay1413 Words Ã |Ã 6 PagesPhysics AS915527 Use physics knowledge to develop an informed response . to a socio-scientific issue The Socio-scientific issue of Global Warming Global warming is an extremely controversial issue as there are many different theories surrounding it, including the theory that it simply doesnÃ¢â¬â¢t exist. The most agreeable concept surrounding global warming is that gas emissions have different effects on the temperatures on Earth, however how these gases effectRead MoreEssay on Global Warming and Greenhouse Gases1265 Words Ã |Ã 6 Pagesnitrous oxide, and water vapor, have increased significantly during the industrial age. These high concentrations are predicted to continue in the atmosphere for thousands of years to come. This increase in specially carbon dioxide, increases the infrared energy taken in by the atmosphere, and warming the earths surface. The Global mean temperature over the past 150 years has risen between 0.3 degrees C and 0.6 degrees C. Climate changes that have been predicted are based on the continual riseRead MoreHousing Insulation And Heat Transfer1091 Words Ã |Ã 5 PagesCLEVELAND DISTRICT STATE HIGH SCHOOL Year 9 Science UNIT NAME Physics TASK NUMBER 1 Housing Insulation and Heat Transfer STUDENT NAME: Ashton Coombes TEACHER DRAFT DUE DATE FINAL REPORT DUE DATE CONDITIONS You must adhere to the schoolÃ¢â¬â¢s assessment policy. If an extension is required, you must contact the Head of Science before the due date. THIS COVER SHEET MUST BE ATTACHED TO YOUR ASSIGNMENT THIS IS AN INDIVIDUAL REPORT. GENERAL OBJECTIVE GRADE Knowledge and
Wednesday, May 6, 2020
The Estonian air blew through her dark locks as she stared out over the rolling waves, finding peace in it. Many years Anne Boleyn had stayed on the Island of Estonina, through the grace of the pure blood vampire Queen Natassa, but she still often longed for her home. Darious, a man who served Natassa, had stayed in England to report things about Elizabeth to Anne. Now news had come that Anne s daughter would be crowned Queen of England, which filled Anne s heart with both joy and saddness. When her child had only been the tender age of 2 Anne was to be beheaded for false crimes, she had escaped and been in hiding ever since. Many times she d wanted to go back for Elizabeth and bring her to Estonia to live with her but, she would not dare do anything that would have robbed her child of the opertunity to one day be queen. The day had come and she was not about to miss it. Anne had spoke to Natassa about it and with her help would return to England to see her daughter crowned. The brig ht sun of Estonina had turned Anne s once black hair into a lighter shade of brown, she found peasant rags to wear, including a old hood to cover her face. Natassa still feared for the other queens safety and sent several men to protect Anne if things went as unplanned. There was a sound of a throat clearing from behind her and she turned to see Kalona, one of the queens men, standing with his hands behind his back. We are ready when you are, my lady. He said, bowing his head to her.Show MoreRelatedAnne Boleyn s The First Wife Of Henry Viii Essay2301 Words Ã |Ã 10 Pages Anne Boleyn is a figure that continues to fascinate us centuries after she met her end on the scaffold. The story goes that King Henry struggles with his conscience when it becomes clear that his wife Catherine will not give him a male heir. He meets Anne and falls in love, and as a consequence breaks with Rome and the Holy Roman Catholic Church to marry her. When she too fails to produce the elusive son he desires he has her executed. The second wife of Henry VIII, AnneÃ¢â¬â¢s is a biography thatRead MoreHenry Viii : An Old English Folk Song And Tune That Talks About A Woman Named1270 Words Ã |Ã 6 Pagesan old English folk song and tune that talks about a woman named Lady Green Sleeves, who many believe was a prostitute. Although there was never a named composer, many people believe that it was written by King Henry VIII for his future queen, Anne Boleyn, but there are some problems with this theory because of its style and of the time period it was written in. In fact there is no direct information that can link Henry VIII to this piece. In this paper, using historical information and scholarlyRead MoreKing Henry VIII and The Reformation2328 Words Ã |Ã 9 Pagesdaughter named Mary. While most parents are overjoyed with the living birth of their child, King Henry wasnÃ¢â¬â¢t satisfied. He wanted a male heir. With at least two known mistresses, King Henry eventually faltered. He fell for one of CatherineÃ¢â¬â¢s ladies, Anne Boleyn. At this point, Catherine could no longer have babies. Determined to produce a male heir, King Henry decided to divorce Catherine. Divorce was not permitted in the Catholic Church at that time and the debate carried on for six years. Weaving throughRead MoreThe Power of Love in Sonnets by Petrarch Surrey and Wyatt2243 Words Ã |Ã 9 Pagesfirst wrote the Italian sonnet during the 14th century. Wyatt and Surrey, who lived and were close friends during the tumultuous reign of Henry VIII in England, composed respective translations of some of Petrarch s most famous works. In their writings, though their words are quite similar to those of Petrarch, it is clear they have their individual interpretations of the texts and the theme of love affects them in distinct ways. In Petrarch s sonnets, as well as Surrey s translations, the loveRead MoreA World Lit Only by Fire Outline Essay8153 Words Ã |Ã 33 Pagescivitate Dei (The C ity of God) a. Wrote that Rome was being punished not for the new Christian religion, but for the old religion. i. Punished because of Ã¢â¬Å"lascivious actsÃ¢â¬ and Ã¢â¬Å"corruption among politiciansÃ¢â¬ . 2. Believed that the original sins were temptation and lust. a. Rooted from Adam and Eve. b. Wrote that people became corrupted in conception. i. Sexual intercourse was a Ã¢â¬Å"mass of perdition (exitium).Ã¢â¬ c. The Virgin Mary could save some of those who were corruptRead MoreRenaissance And Discovery Of The Renaissance4916 Words Ã |Ã 20 Pageselectors, the nonelectoral princes, and representatives from the sixty-five imperial free cities The Northern Renaissance Scholars of the northern Renaissance created conditions that would help spring forth the Protestant Reformation as they read original Latin texts of the Church fathers and realized many discrepancies to the dominant Catholic orthodoxy. Northern humanists came from more diverse social backgrounds and were more devoted to religious reform than their Italian counterparts. The developmentRead MoreAp European History Outline Chapter 10 Essay example5639 Words Ã |Ã 23 Pagesrepresentatives from the sixty-five imperial free cities Section FourÃ¢â¬âThe Northern Renaissance * Section Overview * Scholars of the northern Renaissance created conditions that would help spring forth the Protestant Reformation as they read original Latin texts of the Church fathers and realized many discrepancies to the dominant Catholic orthodoxy * Northern humanists came from more diverse social backgrounds and were more devoted to religious reform than their Italian counterparts Read MoreHistory of Social Work18530 Words Ã |Ã 75 Pagesbeyond the persons immediate control. Ã¢â¬ ¢ Social Insurance programs such as Old Age, Survivor, and Health Insurance are examples of institutional programs Ã¢â¬â as are public assistance programs. ELIZABETH I 1558-1603 The daughter of Henry VIII and Anne Boleyn, Elizabeth was a remarkable woman, noted for her learning and wisdom. From first to last she was popular with the people and had a genius for the selection of capable advisors. Drake, Raleigh, Hawkins, the Cecils, Essex and many many more made England
Tuesday, May 5, 2020
carolina Essay Carolina Arboleda was born in Columbia before moving to Greenwich six years ago. She moved to America along with her mothers side of the family, while her father and his blood related family members remain in Columbia. Carolinas first impression of Greenwich was that it is a fairly boring town, with an absence of activities and places to go. She did however praise the good school system, and hoped to make the best of her new life. Family is very important to Carolina. She has a brother who is three years old and a sister who is fourteen years old. She gets along fairly well with her siblings, and spends quality time with her sister, usually going to movies or the library. Since her sister is significantly younger, they dont associate with the same friends or go to parties together, but maintain a close relationship that she hopes will last a lifetime. Carolina thinks that living with only her mother and siblings brings their family closer as a whole, for everybody has to help out around the house and contribute to the familys general well being. In the absence of a job, Carolina spends her time with friends and doing schoolwork. She does not participate in any organized sports, but likes to play basketball and swim at a local park. She says that her mom has never pressured her into doing any sports or activities that she didnt want to do, but does however support her in her schoolwork. Carolina prefers trips into New York City instead of staying in Greenwich on the weekends where she likes to hang out at video arcades, and go to dance clubs with friends. While stuck in Greenwich Carolina enjoys going to movies and occasionally hanging out at the library, reading and relaxing in the calm environment. Since she does not yet have a car Carolina relies on rides from her mother and friends to take her to school and other activities. Carolina is a senior at Greenwich High School, a place that plays a very significant role in her life, for it is where she spends most of her time, and it is her performance here, which will determine the next school that she attends. Generally, Carolina likes Greenwich High School, but thinks that it is too strict sometimes. She thinks that the closed-door policies are not needed and just causes a hassle for students in the morning. Carolina tries hard in school so that she can hopefully attend a prestigious college. While she does not yet know exactly where she would like to go, Carolina views The University of Connecticut as a possibility. Carolina expressed interest in majoring in business management or psychology. Both fields that interest her because of the opportunity they will present to her after college. Carolina is a very ambitious student who has already set lifelong goals. Her academic prowess and stamina will take her far in life. Along with school she has maintained a balance where she can also take part in family activities, and stay close to her brother and sister. Carolinas fun loving spirit and intelligence makes her easy to talk to, approachable and interesti ng person.
Wednesday, April 15, 2020
What is the WACC and why is it important to estimate a firmÃ¢â¬â¢s cost of capital? Do you agree with Joanna CohenÃ¢â¬â¢s WACC calculation? Why or why not? Answer: The cost of capital refers to the maximum rate of return a firm must earn on its investment so that the market value of companys equity shares will not drop. This is a consonance with the overall firms objective of wealth maximization. WACC is a calculation of a firms cost of capital in which each category of capital is proportionately weighted. All capital sources common stock, preferred stock, bonds and any other long-term debt are included in a WACC calculation. All else equal, the WACC of a firm increases as the beta and rate of return on equity increases, as an increase in WACC notes a decrease in valuation and a higher risk. The WACC of a firm is a very important both to the stock market for stock valuation purposes and to the companys management for capital budgeting purposes. We will write a custom essay sample on Capital Asset Pricing Model and Cost or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In an analysis of a potential investment by the company, investment projects that have an expected return that is greater than the companys WACC will generate additional free cash flow and will create positive net present value for stock owners. Thus, since the WACC is the minimum rate of return required by capital providers, the managers in the company should invest in the projects which generate returns in excess of WACC. We do not agree with Joanna CohenÃ¢â¬â¢s calculation regarding the WACC from 3 aspects: 1) When Joanna Cohen computed the weights or proportions of debt and equity, she used the book value rather than the market value. The book values are historical data, not current ones; on the contrary, the market recalculates the values of each type of capital on a continuous basis, therefore, market values are more appropriate. The cost of debt should not be calculated by Ã¢â¬Å"taking total interest expense for the year 2001 and dividing it by the companyÃ¢â¬â¢s average debt balance. These historical data would not reflect NikeÃ¢â¬â¢s current or future cost of debt. 3) She mistakenly used the average Beta from year 1996 to 2001. The average Beta could not represent the future systemic risk, and we should find the most recent Beta as Beta estimate in this situation. 2. If you do not agree with CohenÃ¢â¬â¢s analysis, calculate your own WACC for Nike and be prepared to justify your assumptions. Answer: 1)Weights of equity and debt: Systematic risk canÃ¢â¬â¢t be diversified away, while unsystematic risk can be diversified away by maintaining a diversified portfolio. -CAPM proves to be a better model than others such as the Dividend Discount Model, because the valuation behind CAPM is based on risk and rates of return while the Dividend Discount Model relies heavily on dividends and a growth rate. Disadvantages: -When using CAPM, it can be difficult determining the estimate of Beta. Different investments may involve different risks and the Beta used in calculating CAPM should reflect the appropriate amount of risk relating to the specific investment. The risk free rates used in calculating CAPM are continually changing as with the values of the investments in the market which make up the market risk premium. The constant changes in the market can have negative impacts on the valuation of CAPM. -Another disadvantage in using the CAPM in investment appraisal is that investment appraisal is premised on a long-term time horizon, whereas CAPM assumes a single-period time horizon, i. e. a holding period of one year. While CAPM variables can be assumed constant in successive future periods, market reality often shows that this is not the case. Cost of Equity using the Dividend Discount Model: Growth (g) = 5. 5% Dividend (D0) = $. 48 Share Price (P0) = $42. 09 Cost of Equity using Dividend Discount Model = Re = (D0 x (1+g)/P0) +g Re = 6. 7% = (. 48 x (1+5. 5%)/42. 09+5. 5% Advantages: -Using the Dividend Discount Model is very easy to calculate because the formula is not complicated. There are no real technical or difficult calculations involved with using this method. -The inputs that are used in the calculations of this model are market information and can be easily obtained. -The Dividend discount model attempts to put a valuation on shares, based on forecasts of the sums to be paid out to investors. This should, in theory, provide a very solid basis to determine the shareÃ¢â¬â¢s true value in present terms. Disadvantages: -The Dividend Discount Model relies heavily on the growth rate to calculate the rate of return. If growth slows or becomes temporarily negative, it can result in calculations which may not truly represent future expected returns. -This model is calculated using dividends and canÃ¢â¬â¢t be used in instances where a company is not paying dividends. This is also a disadvantage for any investment without a reasonably constant growing dividend stream. -The Dividend Discount Model is very sensitive to minor changes in input figures. If the growth rate changes by 1 % the cost of equity will also change by that rate. -The Dividend Discount Model does not explicitly consider the risks which the company faces. 4. What should Kimi Ford recommend regarding an investment in Nike? Answer: In order for Kimi Ford to make a decision regarding an investment in Nike, she must compare an accurately calculated WACC to the sensitivity of equity value to discount rate chart shown in Exhibit #2. The sensitivity chart in Exhibit #2 states that at a discount rate of 11. 17%, NikeÃ¢â¬â¢s current share price is fairly valued at $42. 09. If a discount rate were to be calculated below 11. 17% then the Nike shares would be under-valued in the current market, but if their discount rate were higher than the 11. 17% Nike share price would be considered over-valued when compared to the current share price. When we calculated NikeÃ¢â¬â¢s discount rate, we determined that their appropriate WACC should be 9. 26%. Since this WACC of 9. 26% is below 11. 17%, we believe that NikeÃ¢â¬â¢s shares are currently under-valued in the market. We believe that NikeÃ¢â¬â¢s equity value based on the WACC of 9. 26% should fall somewhere between $55. 68 and $61. 25. Kiki Ford should recommend adding Nike shares to the NorthPoint Large-Cap Fund based on our analysis. 03/03/2011 CASE OVERVIEW Kimi Ford is a portfolio manager at a large mutual-fund management firm called, NorthPoint Group. Ford is considering the addition of Nike Inc. to the Large-Cap Fund at NorthPoint Group. NikeÃ¢â¬â¢s share price has notably declined since the beginning of the year. Her decision whether or not to add Nike to the portfolio should be made by looking at the 2001 fiscal year end 10-K report. In 1997 NikeÃ¢â¬â¢s revenues plateaued around $9 billion while net income had fallen from around $800 million to $580 million. Also, from 1997-2000 NikeÃ¢â¬â¢s market share in U. S. athletic shoes fell from 48% to 42%. Supply-chain issues and the adverse effect of a strong dollar had negatively affected revenue in recent years. At the June 28, 2001 analyst meeting Nike planned to add both top-line growth and operating performance. One goal was to develop more mispriced ($70-$90) athletic shoes and the other to push its apparel line. At this meeting a target long-term revenue growth rate between 8%-10% was given and an earnings-growth target above 15%. After reviewing all the analystsÃ¢â¬â¢ reports about the June 28th meeting Ford still did not have a clear picture of how to value Nike. Ford then performed her own sensitivity analysis which revealed Nike was undervalued at discount rates below 11. 17%. WHAT IS THE WACC? A firm derives its assets by either raising debt or equity or both. There are costs associated with raising capital and WACC is an average figure used to indicate the cost of financing a companyÃ¢â¬â¢s asset base. More formally, the weighted average cost of capital (WACC) is the rate that a company is expected to pay to debt holders and shareholders to finance its assets. Companies raise money from a number of sources so the WACC is the minimum return that a company must earn on existing asset base to satisfy its creditors, owners, and other providers of capital. WACC is calculated taking into account the relative weights of each component of the capital structure which means it is the proportional average of each category of capital inside a firm. This rate, also called the discount rate, is used in evaluating whether a project is feasible or not in the net present value (NPV) analysis, or in assessing the value of an asset. WACC = [Wdebt * Kdebt * (1-t)] + [Wequity * Kequity] + [Wpreferred * Kpreferred] K = component cost of capital W = weight of each component as percent of total capital t = marginal corporate tax rate WHY IS IT IMPORTANT TO ESTIMATE A FIRMÃ¢â¬â¢S COST OF CAPITAL? The cost of capital is an important issue from the perspective of management while taking a financial decision. We can list some basic issues related to the importance of WACC and its interpretation by firms: * The importance of the WACC is in its relation to the evaluation of projects. For a project to be feasible, not just profitable, it must generate a return higher than the cost of raising debt (Kd) and the cost of raising equity (Ke). WACC is affected not only by Re and Rd, but it also varies with capital structure. Since Rd is usually lower than Re, then the higher the debt level, the lower the WACC. This partly explains why firms usually prefer issuing debt first before they raise more equity. As part of their risk management processes, some companies add a risk factor to the WACC in order to include a risk cushion in their project evaluation. * The cost of capital is also important for the management while taking a decision about capital budgeting. Naturally, the project which gives a higher (satisfactory) return on investment compared to the cost of capital incurred for its financing would be chosen by the management. Cost of capital is the key factor in deciding which project to undertake out of different opportunities. * The cost of capital is significant in designing the firms capital structure. It will direct the management about adopting the most appropriate and economical capital structure for the firm which means the management may try to substitute the various methods of finance to minimize the cost of capital so as to increase the market price and the earning per share. * The cost of capital is also an important factor for taking a decision about the soundest method of financing for the company whenever the company requires additional finance. The management may try to catch the source of finance which bears the minimum cost of capital. The cost of capital can be used to evaluate the financial performance of the top management by comparing actual profitabilityÃ¢â¬â¢s of the projects and the projected overall cost of capital and an appraisal of the actual cost incurred in raising the required funds. DO WE AGREE WITH JOANNA COHENÃ¢â¬â¢S WACC CALCULATION? WHY OR WHY NOT? We do not completely agree with Joanna CohenÃ¢â¬â¢s calculation of WACC. There are several problems in her calculation; * In CohenÃ¢â¬â¢s calculation, she used the book value for the weights of each capital structure component (debt and equity). Book value of equity should not be used when calculating cost of capital. Instead she should have calculated the market value of equity. Also, she should have discounted the value of long-term debt that appears on the balance sheet to find the market value of debt (even if the book value of debt is accepted as an estimate of market value). * Also, she should have considered the preferred stock while calculating the weights of the components of capital structure (the redeemable preferred stock is relatively small in NikeÃ¢â¬â¢s capital structure so it doesnÃ¢â¬â¢t affect the weights). * Another problem with her calculation is about the cost of debt. Cohen used a cost of debt which is even lower than treasury yield. In common sense, a company, even it might be a large AAA firm, should be risky than US government. Cost of debt should be calculated by finding the yield to maturity on 20-year Nike Inc. debt with current coupon rate paid semi-annually instead of by taking total interest expense for 2001 and dividing it by the companyÃ¢â¬â¢s average debt balance. USING SINGLE OR MULTIPLE COSTS OF CAPITAL IS APPROPRIATE FOR NIKE INC.? Even Nike Inc. has multiple business segments such as footwear, apparel, sports equipment and some non-Nike-branded products (which accounts for relatively small fraction of revenues), we assumed Nike Inc. To have a single cost of capital since its multiple business segments are not very different and would experience similar risks and betas. WHICH EQUITY RISK PREMIUM SHOULD BE USED TO DETERMINE THE COST OF CAPITAL? For the cost of capital, the geometric mean is a better alternative to the arithmetic mean. Furthermore, the geometric mean is a more conservative measure to use compared to the arithmetic mean. The average market risk premium has fluctuated by large amounts in short time periods from 1926-1999. 1926-1929 saw high market risk premiums; however, the 1930s and 1970s saw very low market risk premiums. Capital Asset Pricing Model (CAPM) Under CAPM we can find the cost of equity as; Ke = Rf + Betai * Equity Risk Premium The first issue is to find an appropriate risk-free rate. We think the 20-year yields on treasures would be the one because NIKE is assumed to be operated for such long time, according to the revitalizing strategy proposed by the management and the long-term debt issued. Next is to determine the beta. The historic betas has been generally decreasing, and we assume it is the market condition and management`s purpose that make NIKE to be a defensive company. Furthermore, we find that the competitors such as K-Swiss and Lacrosse also have beta less than one. So rather than the average, we use the YTD beta into calculation. On the other hand, since the beta has been found to be on average closer to the mean value of 1, which is the beta of an average-systematic-risk security, we calculate the adjusted beta, giving two-third weight to the YTD beta and one-third weight to 1. Regarding the risk premium, we use the geometric mean since it is a better measurement compared to arithmetic mean when the measured period is longer and contains more fluctuations.
Thursday, March 12, 2020
Writing About Poems Essay Example Writing About Poems Essay Writing About Poems Essay Ã¢â¬Å"Forgiving My FatherÃ¢â¬ is an example of a lyrical poem.Ã Written by Lucille Clifton, its lines contain the poetÃ¢â¬â¢s recriminations against her father (Schilb Clifford 253).Ã Ã Ã Ã Ã Ã Ã Ã A lyrical poem relays the poetÃ¢â¬â¢s true feelings and thoughts regarding anything that he chooses to write about (Campa, AuthorStream.com).Ã In this case, Clifton has written about how her father had failed to give her, her siblings and her mother the kind of life that was better than what they lived.Ã Ã Ã The overall tone of the lines of a lyrical poem and the choice of words therein would all depend on the poetÃ¢â¬â¢s purpose for writing it (Encyclopedia Britannica, p. 181).Ã This specific poem, Ã¢â¬Å"Forgiving My Father,Ã¢â¬ uses some disrespectful lines to describe the authorÃ¢â¬â¢s father; at the same time, the poem contains no loving words and no grateful words, either, for the authorÃ¢â¬â¢s father. Poets would have to synchronize their specific moods and feelings at the time of writing their pieces with their respective purposes for them (Encyclopedia Britannica, p. 181).Ã In the case of CliftonÃ¢â¬â¢s Ã¢â¬Å"Forgiving My Father,Ã¢â¬ the lines dwell on a sad topic and the words therein such as Ã¢â¬Å"emptyÃ¢â¬ , Ã¢â¬Å"pauperÃ¢â¬ , and Ã¢â¬Å"debtorsÃ¢â¬â¢ boxesÃ¢â¬ all paint a sad picture.Ã Lucille Clifton used unsavory words such as Ã¢â¬Å"lecherÃ¢â¬ and Ã¢â¬Å"liarÃ¢â¬ to describe her father, which only served to bolster the glum Ã¢â¬â and a bit bitter Ã¢â¬â tone of the poem. Lyrical poems reveal the poet behind its lines.Ã The poem Ã¢â¬Å"Forgiving My FatherÃ¢â¬ speaks of how Lucille Clifton needed to forgive her father and how in the end she decided that she ought to forgive him, as follows (Schilb Clifford 253): Daddy old pauper old prisoner, old dead manÃ Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã 20 what am I doing here collecting?Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã 21 You lie side by side in debtors boxesÃ Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã 22 and no accounting will open them up.Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã 23 Lines 20 to 23 make it clear that Lucille Clifton, in the end, realized that it was futile to harbor angry feelings against her father.Ã After all, he was gone and she had to move with her life.Ã However she would feel, nothing would bring back her father and mother Ã¢â¬â it was best to let them go, to leave her past behind and to cease pondering on thoughts along Ã¢â¬Å"What ifÃ¢â¬ and Ã¢â¬Å"If onlyÃ¢â¬ lines. Lucille Clifton, an award-winning writer of poems and childrenÃ¢â¬â¢s books, undoubtedly wrote her heart down in her poem Ã¢â¬Å"Forgiving My Father.Ã¢â¬ Ã Clifton was born on June 27, 1936 in Depew New York, a suburb of Buffalo (The Circle Association webpage) The poem employs the open poem form.Ã It consists of 23 lines; it has three stanzas composed of seven, nine and seven lines. There are no pairs of rhyming words in the poem, and it does not seem to employ a rhythm through its lines of varying numbers of syllables. Ã¢â¬Å"Forgiving My FatherÃ¢â¬ speaks of the struggle of the author to blame her father no more for his shortcomings as a father and as a husband.Ã The poem is an eloquent attempt to voice the authorÃ¢â¬â¢s feelings.Ã The author simply let her heart out with each written line; she cared more for substance and less for the structure and make-up of the poem.Ã This served to make the poem even more haunting.Ã While reading it, one feels the repressed anger and disappointment, hurt and desire to lash out which are all elements of the first to nineteenth lines.Ã Then one feels the authorÃ¢â¬â¢s will to let go of her pain with the realization that life must go on and that the ills of the past cannot be undone. Writing the essay was an exercise that was meant to teach me to appreciate poetry and the insight that one gains from reading poems.Ã As instructed, I selected a poem to focus on and studied in terms of the aspects and qualities that I learned each poem has, according to its purpose, theme and general mood.Ã Through it all, I hoped to be able to do the same exercise as the normal thing that I would do whenever I come across a poem.Ã I think the strength of this paper is the openness with which I tried to write my lines.Ã I would change it only if I can improve my analysis of the elements of the poem, which is the part that I find difficult. The interesting realization that hit me during the exercise is that different people from different parts of the world go through basically the same happy and sad points, high and low points in life.Ã There would be differences in specific surrounding circumstances born of the uniqueness of each one of us, but the joys and sorrows of people living different lives are often the same and common amongst people.Ã The author of the poem talked of her anger for her father and her resolve to forgive him.Ã I somehow know that the same story has occurred over and over again to different people in different places around the world.Ã I further realize that the poetry we read can sometimes mirror our own feelings and thoughts. The most difficult part about this paper is the identification of the specific elements of the selected piece of poetry.Ã I am not sure whether or not I did it right, but somehow attempting to do it right made me see that there are alternative styles that an author can choose to adopt in the course of writing his poems.Ã The MLA format rules also are a bit hard to properly follow; the same rules made me see that I have to study even harder to be able to write well as an educated individual.Ã Anyhow, I hope our instructor would appreciate my exerted efforts. Campa, TC.Ã Ã¢â¬Å"Poetry Ã¢â¬â Lyrical and Narrative.Ã¢â¬ Author Stream.Ã 10 January 2009 Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã authorstream.com/Presentation/tccampa-65539-poetry-lyrical-Ã Ã Ã Ã Ã Ã Ã Ã Ã narrative-types-education-ppt-powerpoint/. Ã¢â¬Å"Lyrical Poetry.Ã¢â¬ Ã Encyclopedia Britannica:Ã p. 181. Schilb, John Clifford, John.Ã Making Literature Matter:Ã An Anthology for Readers and Ã Ã Ã Ã Ã Ã Ã Ã Writers.Ã USA:Ã Bedford Books, 2008. Clifton, Lucille. Ã¢â¬Å"On Strength Gotten from Others.Ã¢â¬ Ã The Circle Association.Ã 10 July 2009 math.buffalo.edu/~sww/clifton/clifton-biobib.html
Tuesday, February 25, 2020
Slavery-Response - Essay Example It investigates the European nations that trafficked in slaves. It also emphasizes on brief origin and history of African enslavement. However, the embarkation area map of the West and West Central Africa is unable to provide with a closer insight. Additionally, it seems that the data on most of the African American history has been compiled from few sources i.e. most are from Eltis et al 2001, lacking a well researched recent literature review. The web site incorporates few links in the right side of the page for distant learning. These are well designed according to format of a report with an introduction, discussion pages and links to resources. There is also a well interpreted history of cultural norms and traditions under the heading Ã¢â¬Å"Laws that BoundÃ¢â¬ . Apart from some minor issues, the website is a great source of information for people interested in exploring their ethnographic and cultural background. The service is doing a good job at maintaining the national pres erves and assisting the general public in visiting such cultural sites keeping the history alive.