1. Suppose you have a $1 million, 5% fixed rate mortgage with annual payments, a maturity of 30 years and a balloon payment of $750,000. What is your approximate annual payment?
$50,763
$51,763
$52,763
$53,763
none of the above
2. Selected data from the 2015 financial statements of KRJ Manufacturing are presented below. Calculate the company's net operating profit after taxes (NOPAT).
Sales $146,668
Operating profits (EBIT) $31,099
Earnings before taxes (EBT) $28,152]
Tax expense $10,581