Elements of Western, Comedy and Thriller in Jarmusch’s Film Dead Man :: Movie Film Essays

Elements of Western, Comedy and Thriller in Jarmusch’s Film Dead Man Released in 1995, the film â€Å"Dead Man† is set in the West in the latter half of the 19th century. The film is a genre-combining work. Although â€Å"Dead Man† is a Western, it brings in many elements from the Comedy and the Thriller. The movie is set in the west, yet the audience finds themselves laughing at many comical incidents as well as anticipating what will happen to Blake next. The film is a Western in many ways, but is also a satire of the genre. First of all, the character Nobody is a Native American. This is common to Westerns, however, the remainder of his character is not. While Indians in Westerns are usually savages, Nobody was educated in England and only interested in helping the protagonist. Also, Blake arrives in town alone. Heroes in Westerns have typically been loners. However, Blake’s character is not much of a hero as he does not demonstrate many characteristics commonly associated with heroism. He is not courageous, fighting some ‘evil’ or ‘bad’ presence, or have some sort of special skills. When walking through, the town is established as a lawless place. For example, Blake and the audience see a woman performing oral sex on a man in public. This lawlessness is expected in the West. However, this specific incident is also satirical of the genre as Westerns would not normally show such a vulgar act. During the course of â€Å"Dead Man,† Jarmusch uses some scenes to create a Thriller-like tension. For example, in the first scene, when Blake is traveling, many interesting passengers ride along with him on the train. The train conductor sits across from Blake and warns him of his destination, the town of Machine. The conductor tells Blake that Machine is the â€Å"end of the line.† These are very ominous words. The conductor also states that Blake is likely to find his grave there. A gunshot is then fired. These are actions and dialogue not regular to Westerns. This scene brings to â€Å"Dead Man† the element of suspense common to the Thriller. Throughout the film, the audience is also exposed to many different comical scenes. Many situations and even dialogue are humorous. For example, one of the three killers sleeps with a Teddy Bear. Additionally, Nobody calls Blake a â€Å"stupid fucking white man.† This is funny purely because it is not something that would be expected from his character.

Audit of Automobile industry Essay

AUTOMOBILE INDUSTRY IN UK United Kingdom has been a colossal manufacturer of automobiles in last 10 years. Producing more that 8 million vehicles and engines and exporting more than 80% of these, UK automobile industry stands as a driving force of its economy. The automobile industry generates a yearly turnover of around 55 Billion Pounds and largest value from exports. Nevertheless, the country that has automobile players like, Alexander Davis, Aston Martin, Bentley, BMW, Ford, Honda, Jaguar, etc., is still said to be under a vast influence of dwindling supply chain and its dependence on foreign market. Let us scrutinize the situation of UK automobile industry by doing an internal and external environmental audit. INTERNAL AUDIT Internal environmental audit is performed to understand the position of industry with respect to its own environment. SWOT is one of the tools used to perform internal audit which is employed for studying the strengths, weaknesses, opportunities and threats of the subject. STRENGTHS The strengths of UK’s automobile industry: 1. Largest Revenue generating sector UK’s auto industry yearly contributes around 12 Billion Pounds to the economy of UK by generating revenue of more than 55 Billion Pounds, annually. 2. Diversity in products Products manufactured by UK automobile industry range from various premium and sports cars to commercial vehicles and engines. Around 80% of this is exported, yearly. 3. Chief employment generator The automobile industry in UK is a major employment generating sector, offering wide range of employment opportunities in manufacturing and R&D. WEAKNESSES 1. Disparity between manufacturers UK’s automobile industry is known for having an austere disparity between its manufacturers, which stands out to be a major weakness of this industry. 2. Depleted Supply Chain Supply chain of UK automobile industry is going through an appalling phase. A potent supply chain and its capacity is an important factor in determining market expansion and foreign investment. Extensive improvement, in the supply chain of UK automobile industry, is essential. 3. Dependence on foreign markets As the UK car industry exports around 80% of its produce to foreign markets, it is under the risk of getting directly dependent on economic crisis of other markets. UK motor industry should focus on reaching as many markets as possible to ease risk. OPPORTUNITIES 1. Providing eco-friendly vehicles UK’s automotive industry has been constantly active in innovating new products to provide a safe and eco-friendly environment, hence opening up string of opportunities. 2. Investments by Global OEMs In the year 2013 many global equipment manufacturers have announced investments in United Kingdom. Through these strategic alliance UK auto industry is believed to benefit significantly. THREATS 1. Soaring cost of Raw Material The cost of raw material has been ever rising; hence, the manufacturers pay more for procuring raw material every year. This eventually raises the price of automobiles. 2. Increasing competition With new companies coming in UK along with foreign direct investment the competition is bound to soar, ultimately increasing threat for existing companies. Bottom-line is that in spite of challenges faced by automobile industry in last decade, it is resurging from its downfall and looking forward to producing more number of vehicles this year. EXTERNAL ENVIRONMENTAL ANALYSIS The automobile industry in UK has been tactically working towards creating new opportunities and enhancing technology. It has extensively slogged to make UK more attractive for foreign investors. Through automotive industry’s external analysis, we shall study influence of external factors on the industry. The two major models discussed here are PESTLE Analysis and Porter’s Five Forces’ Model. PESTEL ANALYSIS Political To ensure there is no monopoly created in the industry, certain policies restricting firms from forming cartels and fixing price have been implemented. They also control the size of automobile companies. Economic With the advent of increasing inflation across the world, it is predicted that the purchase of automobiles shall increase in coming years. Also, globalisation has opened doors for foreign investors in UK. Social Recent researches show that young population in UK is declining and older population is rising. Hence, it is advisable that companies focus on creating more products catering to smaller families and older population. Technology Increased focus on providing eco-friendly vehicles has encouraged industry to continually invest in research and development. With popularity of new designing softwares, Global Positioning Systems for navigation, etc, technology has advanced two folds. Environmental As people are getting more aware and concerned about a healthy environment, it is imperative to create products that are eco-friendly. Hence, it has created a pressure on the industry to focus on environmental issues as well. Legal A few legal policies have been imposed by UK government like compulsory fitment of Electronic Stability Control and Tyre Pressure Monitoring Systems in all the cars produced. PORTER’S FIVE FORCES’ MODEL 1. Threat from new entrants Automobile industry being capital extensive demands a lot of money to venture and uphold. In order to sustain, present automobile companies have augmented their production, enforcing new entrants to enter only on large scale. 2. Bargaining Power of Suppliers Due to increase in globalisation the industry has suppliers not only from UK but also from across the world. Hence, the bargaining power of suppliers is limited. As some manufacturers have joined hands with OEMs from China and India others source materials from UK itself. 3. Bargaining Power of Buyers This model brings forth the fact that purchasers have a power to regulate the market and increase competition. As consumers have access to extensive information and choice of numerous brands across the globe they definitely stand to have a better bargaining power. 4. Competition from Substitutes Substitute products are those that can be consumed in place of any product. For instance, people of UK can as well use public transport instead of private cars. They may also consider the option of using rented cars. 5. Existing Competition As UK is home to around 50 car manufacturers selling 200 models, the internal competition among the companies is inevitable. Apart from the local car manufacturers like GM, Ford, etc, the foreign manufacturers are also giving a lot of competition. The external influences play a major role in casting future of automobile industry in UK. Analysing the internal as well as the external environment of UK’s car industry helps identifying how it has been performing and what is the scope for improvement. United Kingdom offers an array of car models in a highly competitive market. Nonetheless, it is still facing a lot of issues in recovering from the past downfall. Market experts predict that the industry shall still be able to cater to the new more demanding market.

The Enlightenment Essay - 999 Words

During the sixteenth and seventeenth centuries the scientific revolution brought about a slow change in societies’ thinking regarding math, earth science, physics, and astronomy. Early on, new ideas about our universe were not widely accepted, especially from the church. This soon changed due to the hard work and perseverance of several scientists and philosophers who unbeknownst to them brought about an era known as the Enlightenment. The Enlightenment, which eased into existence in the seventeenth and eighteenth centuries created a new way of thinking based on rationality. Scholars and intellects were free to debate and have informed discussions about such things as science, religion, and philosophy without fear of censorship†¦show more content†¦Around the same time as Kepler, Galileo was making his own observations. Galileo was first to have the use of a telescope to observe celestial bodies, which helped him greatly in making new discoveries. He was able to not only study the motion of other planets, but was able to observe the satellites orbiting those planets. Galileo also discovered an enormous amount of stars by observing the Milky Way giving way to theorizing that there is more to our universe then what was previously thought. Galileo later found himself in trouble with the Catholic Church for publicly announcing his findings, which went against the Church’s held beliefs of the Earth’s place in our universe. Sadly, Galileo had to essentially denounce his findings and was forced to keep his discoveries private for the rest of his days. Sir Isaac Newton was the hero of the scientific revolution and his findings quickly propelled the Enlightenment to fruition. Newton was a brilliant mathematician whose theories on gravity changed the world. Necessity is the mother of invention and Newton proved that without question when he implemented or rather invented the use of Calculus to aid him in his attempts to better understand how gravity works. That alone can not be overstated enough to describe the importance of knowledge Newton provided to the world. NearlyShow MoreRelatedThe Enlightenment1278 Words   |  6 Pages World Literature The Enlightenment’s Impact on the Modern World The Enlightenment, Age of Reason, began in the late 17th and 18th century. This was a period in Europe and America when mankind was emerging from centuries of ignorance into a new age enlightened by reason, science, and respect for humanity. This period promoted scientific thought, skeptics, and intellectual interchange: dismissing superstition, intolerance, and for some, religion. Western Europe, Germany, France, and Great BritainRead MoreWhat Is Enlightenment1120 Words   |  5 PagesIn his essay titled What is Enlightenment? Immanuel Kant defines enlightenment as mans leaving his self-caused immaturity. (145) In order to fully comprehend his definition, one must first clearly understand Kants use of the term immaturity. He explains that immaturity is not thinking for oneself because of a lack of determination and courage to use ones intelligence without being guided by another. (145) To Kant, immaturity is the individuals fault. He explains that a pattern of immaturityRead MoreThe French Enlightenment Vs British Enlightenment Essay1813 Words   |  8 PagesTimes, discusses the topic of the French Enlightenment versus British Enlightenment in his article Two Theories of Change. He proposed that French philosophers such as Descartes focused on creating entirely new truths and taking out the past truths. Where, on the other hand, British philosophers such as Adam Smith, took the past truths and instead of discarding them, modifying them to fit the ever-changing times. Brooks described the British Enlightenment way of though as believing the were â€Å"a smallRead MoreSummary Of The Enlightenment Salons767 Words   |  4 PagesRepublic of Letters: A Cultural History of the French Enlightenment (1994) and Becoming a Woman in the Age of Letters (2009). In her article, â€Å"Enlightenment Salons: The Convergence of Female and Philosophic Ambition,† (1989) Dena Goodman stresses the pivotal role of women, as salonnià ¨res, in the transformation and governance of eighteenth-century French Enlightenment salons, which were the base of the philosophes’ pursuit of the Enlightenment project; furthermore, Goodman argues the reciprocal successesRead MoreWhat Is Enlightenment1028 Words   |  5 PagesA More Enlightened Contemporary Society What is Enlightenment?, an explication that was written in 1784 in Prussia by the philosopher Immanuel Kant, discusses the principles that he deems to be truths surrounding significant topics such as freedom, reason, and an individual’s and/or societal necessity to be fully mature, in terms that he described as being scholar. Here, what is most evident is the reality that while he perceived the society as being unprepared to be fully mature, he neverthelessRead MoreEssay on The Enlightenment1246 Words   |  5 PagesThe history of Western civilization cannot be neatly divided into precise linear sections. Instead, it must be viewed as a series of developing threads that combine, interact, and, at various intervals, take pervasive shifts. The Enlightenment of the eighteenth century was one of these paradigm historical shifts, challenging the traditional notions of authority by investing reason with the power to change the human condition for the better. This ecumenical emph asis on reason and independent thoughtRead MoreNapoleon And The Enlightenment1214 Words   |  3 PagesNapoleon And The Enlightenment The enlightenment was a time of great learning throughout Europe during the eighteenth century. Although the period is significant for scientific and other scholastic advancements, it is most important because it allowed for the opening of great minds--such as that of Napoleon Bonaparte. Shortly after this enlightenment made its way through Europe, revolution and civil war ripped through France between 1879 and 1899. The unrest of the time called for a strong rulerRead MoreThe Rise Of The Enlightenment1577 Words   |  7 PagesIn the midst of darkness, the people of France saw a beacon of hope when the Enlightenment gave them a glimpse of how great their life could be. The Enlightenment was a collection of ideas from various philosophers in Europe to question old views of society and use reason to create a better society. The enlightenment ideas focused on the people and their needs, prompting for governments to protect people’s basic rights to liberty, life, and equality. Fr ance, at the time, was suffering under the weakRead MoreThe Era of Enlightenment1074 Words   |  4 Pages The Enlightenment was an era of major social and political change in 18th century Europe. The Enlightenment was centered in France, which at the time was a dominant force in Europe ruled by an oppressive government. During this era, many intellectuals began to question some of the norms and customs of European society, such as monarchy and religious discrimination. These intellectuals helped spread new ideas about human rights and democracy, which helped inspire the revolutions that followedRead MoreAge Of Enlightenment1210 Words   |  5 PagesThe Age of Enlightenment has historically been affiliated with drastic skepticism and revolution in politics, philosophy, science, and communications, amongst other disciplines. In the early eighteenth century, people began to challenge the idea that rulers, spirits, and Catholicism were dominant over other ways of life. Although th e Enlightenment primarily prevailed in parts of Europe in countries such as England and France, it was also crucial in determining several aspects of colonial America

Ancient Map of the Western Roman Empire

Sustainability in Mauritius - 7180 Words

Sustainable Mauritius Brundtland report (1987) has defined the term sustainable development as the development that meets the needs for the present without compromising the ability of the future generations to meet their own needs Sustainable development and planning is structured essentially around 3 elements: economic growth, social development and environmental protection. While development is associated with social development, it is also associated with environmental disasters if the development is not well planned. In 1992, following the international conference in Rio de Janeiro, a number of guiding principles were established on action that countries could take to achieve sustainable development (Agenda,21) Based on these guiding†¦show more content†¦Get the family to eat together to avoid reheating of food several times Avoid letting your pet stray around and and causing nuisance to the neighbourhood Use of already printed old papers as rough paper Avoid throwing your litter everywhere – make use of a bin Close your bin properly to avoid mosquitoes, pests and rodents Plant a tree in your garden to provide shade and embellishment On the streets do not litter on the street. Use a bin do not spit everywhere on the streets do not throw food on the pavement Transportation If possible, walk or ride a bike – do not use a car Throw the bus tickets in bins. Do not throw in the bus or on the street. At school Avoid wall scribbling Keeps all classrooms’ walls clean Use bins in classrooms and school premises Enhance school premises with local plants, shrubs amp; trees Learn to respect plants – do not unnecessarily break branches and leaves Encourage the public to discover Mauritius’ natural and cultural heritage – visit museum, nature park or historic site At the sea-side do not light fire underShow MoreRelatedThe Causes And Prevention Of Africa942 Words   |  4 Pagesattempted to investigate whether quantity or quality matters to support economical growth in Africa. Even though Africa is improving rapidly and the continent s GDP has doubled over the last decade, there are still other structural problems and sustainability. Results show that both the quantity and quality of the aids matter, the sub-Saharan Africans especially are desperate in getting these foreign aids due to the constant fighting in the area. 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Foreign Literature free essay sample

F. Brigman, Fundamentals of Financial Management, 5th ed. , (Hinsdale: Holt, Richard and Winston Sounders College Publishing, 2000), pp. 840-841. Companies are increasingly employing Inventory System. A computer start with an inventory counts in memory. Withdrawals are recorded by the computer as they are made, and the inventory balance is constantly revised. When the recorded point is reached, the computer automatically places an order, when this new order is received, the recorded balance is increased. Retail stores have carried this system quite far, each item has a magnetic codes, and as on item is checked out, it passes over an electronic reader, which then adjusts the computers inventory balance, at the same time the price is fed to cash register tape. When the balance drops to the recorder point, an order is place. Foreign Literature Joe N. of gather. com, they attract the buyers by selling what they want, non-stop on a channel thats dedicated for buyers. We will write a custom essay sample on Foreign Literature or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This is a good technique if you are trying selling something, and gaining a good audience of buyers, because you are putting the product up for advertisement, on a channel those buyers watch. You dont have to completely analyze a commercial to come to this conclusion, or to categorize a commercial under a specific technique, but just pay some attention to the main details. In Channels of Desire (1982), the Ewens trace the emergence of the consumer society through the rise of mass images and new advertising, fashion, and entertainment industries. They explore some of the ways in which desire was channeled into consumption and into desire for ever new and ever more consumer goods. In The Culture of Consumption (1983), Editors Richard Wightman Fox and T. J. Jackson Lears document how capitalism develops a culture appropriate for a society organized around the principle of profit maximization via the production and consumption of commodities.

Financial Management Theory and Practice Limited

Question: Discuss about the Financial Management for Theory and Practice Limited. Answer: Introduction This paper addresses various crucial aspects of financial management which helps in analyzing the financial performance of a firm and preparing estimations and budgets (Brigham and Ehrhardt, 2016). The current paper has been divided into five sub-headings such as financial analysis, operating revenue prediction, interest on loan, choosing investment funds, and bond valuation. The financial analysis has been carried out on the financial statements of Boral Limited, which is engaged in manufacture and supply of building material primarily in Australia and the United States. The company is listed on the Australian stock exchange. Financial Analysis of Boral Limited The financial analysis of Boral Limited carried out here covers financial statements for the year 2016 and 2015. The ratio analysis has been considered to be the most appropriate tool for financial analysis of Boral Limited (Tracy, 2012). The process comprising five steps such as liquidity analysis, asset management analysis, Debt management analysis, profitability analysis, and market value analysis have been followed in conducting the ratio analysis. Liquidity Analysis It refers to the companys ability to pay the short term debt on time. The short term debt here implies the current liabilities which consist of trade payables, expenses payables, and the short term borrowings. The ability of the company to pay short term debt is adjudged based on the sufficiency of the current assets and the sufficiency of the current assets is analyzed by current and quick ratio (Tracy, 2012). The current ratio is computed by dividing the current assets with the current liabilities. The quick ratio is computed in the same manner except that the current assets here do not include inventories (Tracy, 2012). In the case of Boral Limited, the current ratio for the financial year 2015 and 2016 has been found to be 1.89 times and 1.43 times (appendix). It could be observed that the current ratio of the company is falling down in the current year as compared to the previous year. The downfall in the current ratio clearly indicates that the current assets of the company are decreasing relative to its current liabilities. Further, the quick ratio also went down from 1.30 times in 2015 to 0.95 times in the year 2016 depicting that the company is facing problems with liquidity (Appendix). Asset Management Analysis Analyzing the efficiency of management to convert the assets into sales or use the assets effectively to generate sales falls under asset management analysis. The prominent ratios such as asset turnover, inventory holding days, and accounts receivables days are computed to analyze the efficiency of management in regard to asset management (Tracy, 2012). The asset turnover ratio depicts revenues per $ of total assets deployed in the business. The inventory turnover days depicts the time period for which the inventory is usually held in the go-down by the company and accounts receivable days depicts the credit period extended by the company to its customers to pay their dues (Tracy, 2012). In the current case of Boral Limited, asset turnover ratio has been found to be 0.73 times in 2015 and 0.74 times in the year 2016 (Appendix). This indicates that the company was earning revenues of $0.73 by utilizing $1 of total assets in the year 2015 which slightly improved to $0.74 in the current year. Further, the inventory holding days were found to be 65 days in 2015 and 69 days in 2016 (Appendix). Increment by 4 days in the inventory holding period is indicative of inefficiencies of the management in managing inventory. On the other hand, the accounts receivable days were found to be decreasing by 3 days in the current year. The accounts receivable days were 56 days in 2015 which reduced to 53 days in 2015. The decrease in the accounts receivable days indicates improvement in the managements efficiency. Debt Management Analysis The debt management is one of the most important aspects of business. The recklessness in debt management could hamper the companys business severely and endanger its solvency. This is the reason that the investors first look into the debt management of the company before analyzing the profitability (Tracy, 2012). In order to analyze the efficacy and effectiveness of the debt management, two most important ratios such as debt equity ratio and Interest Times ratio have been calculated and analyzed. In the current case of Boral Limited, the debt equity ratio has been found to be 0.66 times in 2015 and 0.65 times in 2016. Thus, it could be observed that there has been slight decrease in the debt equity ratio in the current year as compared to the previous year. The decrease in the debt equity ratio depicts that the company is using less debt as compared to equity in financing its business. However, ideally, it is considered that the company should not use more than $0.33 of debt against the $1 of equity. In the current case of Boral Limited, the debt to equity ratio is much more than the ideal one, thus, the risk of solvency could be higher. Further, the Interest Times ratio was observed to be 4.60 times in 2015 and increasing slightly it reached to 4.91 times in the year 2016. The increment in the Interest Times ratio depicts that the companys ability to repay the debt has improved. Profitability Analysis The analysis of profitability is considered to be the decisive factor for the investor in taking an investment decision. In order to analyze the profitability of the business, two most crucial ratios such as net margin and return on equity are taken for computation and analysis (Tracy, 2012). In the current case of Boral Limited, the net margin ratio has been found to be 5.98% and 5.94% in the year 2015 and 2016 respectively (Appendix). It could be observed that the net margin has dropped slightly in the 2016 as compared to the previous year. The drop in net margin ratio depicts downfall in the profitability of the company. Further, the return on equity was found to be 7.29% and 7.30% for the year 2015 and 2016 respectively (Appendix). This implies that the return on equity has improved a bit in the current year. It could be observed that despite downfall in the net margin ratio, the return on equity has improved in the current year. This implies that the improvement in the return on equity was due to reduction in the shareholders equity in the current year. The shareholders equity reduced from $3,524.10 in 2015 to $3,506.30 in the year 2016 (Appendix). Market Value Analysis The market value analysis covers evaluation of the stocks price of the company. The evaluation in regard to the price of the stock is focused on analyzing that whether the stock of company is over or under valued. The two most crucial ratios such as Price to Earnings (PE) ratio and Market value to Book value ratio are considered essential in this regard (Tracy, 2012). The results of ratio analysis on the financial statements of Boral Limited depict a PE ratio of 17.47 times in 2015 and 17.21 times in 2016 (Appendix). An increase in the PE ratio is considered good for the company and the investors wealth. However, in case of Boral Limited, it could be observed to be slopping slightly downwards, which is indicative of reduction in the wealth of the shareholders. Further, the market value to book value ratio was found to be 1.27 times in 2015 and 1.26 times 2016 (Appendix). There could be observed a slight downfall in the market to book value ratio of the company. The downfall in the market to book value ratio indicates that the company is not performing well in the market. Operating Revenues Prediction Report of Research and Markets has forecasted that the timber and building material supplier industry is to grow at the compounded annual growth rate (CAGR) of 4.63% per year from 2017 to 2021 (Finanznachrichten , 2016). Therefore, it can be expected that the operating revenues of Boral Limited which is a major supplier of timber and building material will rise. The CAGR of 4.63% in the timber and building material industry appears to be sustainable because of innovative products coming into the market. It is expected that the use of decking in construction of buildings will increase which will push the demand of timber and building material industry. Based on the CAGR of 4.63%, the operating revenues for the year 2020-21 have been computed as under: Presently, the company earns operating revenues of $4,311.20 million (Boral Limited, 2016). The current revenues compounded at the rate of 4.63% per annum will rise to $5,406.40 million by the end of 2020-21. Interest on Loan The interest rate computed using the interest expense and the average long term debt of the company is given below: Boral Limited A. Interest Expense ($M) 70.8 B. Average long term debt ($M) 1156.8 C. Interest rate annual (A/B) 6.12% D. Interest rate quarterly 1.53% Thus, the interest rate that would be charged on the loan will be 6.12% per annum or 1.53% quarterly. At this rate of interest, the quarterly installment of loan will be as follows: A Loan amount $300,000 B Tenure (years) 30 C Quarterly periods 120 D Quarterly rate 1.53% E PAVF 54.7898 F Installment quarterly (A/E) $5,475.47 Using the above amount of installment, the loan schedule for first ten years has been presented below: Period Opening outstanding Installment Interest Closing 1 300,000.00 5,475.47 4,590.25 299,114.78 2 299,114.78 5,475.47 4,576.70 298,216.01 3 298,216.01 5,475.47 4,562.95 297,303.49 4 297,303.49 5,475.47 4,548.99 296,377.01 5 296,377.01 5,475.47 4,534.81 295,436.35 6 295,436.35 5,475.47 4,520.42 294,481.30 7 294,481.30 5,475.47 4,505.81 293,511.64 8 293,511.64 5,475.47 4,490.97 292,527.14 9 292,527.14 5,475.47 4,475.91 291,527.57 10 291,527.57 5,475.47 4,460.61 290,512.72 11 290,512.72 5,475.47 4,445.09 289,482.33 12 289,482.33 5,475.47 4,429.32 288,436.18 13 288,436.18 5,475.47 4,413.31 287,374.02 14 287,374.02 5,475.47 4,397.06 286,295.61 15 286,295.61 5,475.47 4,380.56 285,200.70 16 285,200.70 5,475.47 4,363.81 284,089.03 17 284,089.03 5,475.47 4,346.80 282,960.36 18 282,960.36 5,475.47 4,329.53 281,814.41 19 281,814.41 5,475.47 4,311.99 280,650.94 20 280,650.94 5,475.47 4,294.19 279,469.66 21 279,469.66 5,475.47 4,276.12 278,270.30 22 278,270.30 5,475.47 4,257.77 277,052.60 23 277,052.60 5,475.47 4,239.13 275,816.26 24 275,816.26 5,475.47 4,220.22 274,561.01 25 274,561.01 5,475.47 4,201.01 273,286.55 26 273,286.55 5,475.47 4,181.51 271,992.59 27 271,992.59 5,475.47 4,161.71 270,678.83 28 270,678.83 5,475.47 4,141.61 269,344.96 29 269,344.96 5,475.47 4,121.20 267,990.69 30 267,990.69 5,475.47 4,100.48 266,615.70 31 266,615.70 5,475.47 4,079.44 265,219.67 32 265,219.67 5,475.47 4,058.08 263,802.28 33 263,802.28 5,475.47 4,036.39 262,363.20 34 262,363.20 5,475.47 4,014.37 260,902.11 35 260,902.11 5,475.47 3,992.02 259,418.65 36 259,418.65 5,475.47 3,969.32 257,912.50 37 257,912.50 5,475.47 3,946.28 256,383.31 38 256,383.31 5,475.47 3,922.88 254,830.71 39 254,830.71 5,475.47 3,899.12 253,254.36 40 253,254.36 5,475.47 3,875.00 251,653.89 It could be observed from the table shown above that the interest for the first year is $18,278.90 ($4,590.25+4,576.70+4,562.95+4,548.99). Thus, the company can claim a sum of $18,278.90 as interest in its profit and loss statement in the first year. The interest amount of the tenth year would amount to $15,643.28 ($3,946.28, 3,922.88, 3,899.12, 3,875.00). Choosing Investment Funds An evaluation of all the three options is given as below: A fund with a quoted fixed rate of 4.25% compounded semi-annually: A. Amount required to pay loan back 2,000,000.00 B. Rate annual 4.25% C. Compounded Semi annual D. Semi annual rate (B/2) 2.13% E. Terms (years) 3 F. Semi periods (E*2) 6 G. Cash required to invest $1,762,940.19 A fund with a quoted fixed rate of 4.2% compounded monthly A. Amount required to pay loan back 2,000,000.00 B. Rate annual 4.20% C. Compounded monthly D. Monthly rate (B/12) 0.35% E. Terms (years) 3 F. Monthly periods (E*12) 36 G. Cash required to invest $1,763,617.62 Zero coupon bonds maturing in three years and currently trading at $88 per $100 face value: A. Amount required 2,000,000.00 B. Face value of bond 100.00 C. No of bonds required (A/B) 20,000.00 D. Current price of bond 88.00 E. Cash required to invest (C*D) 1,760,000.00 Decision: It could be observed that the cash required for investment at present to get a sum of $2,000,000 after 3 years is lowest in the case of first option. In the case of first option, the company can arrange loan repayment of $2,000,000 by investing $1,762,940.19 today. Thus, it is advisable that the company chooses option one to make investment for arranging money in regard to loan repayment. The yield on the Australian government bond outstanding for 10 years is 2.73% (Blomberg, 2016) and the company has a spread of 570 basis points on this yield. Thus, the yield for companys bond will be 8.43% (2.73%+5.70%). In the case if the bond had been issued for shorter term than 10 years, the yield to maturity would have been lower than the current level. This is because the interest rate (coupon rate) remains higher for the short time period and as the period is enhanced, the interest rates fall downside. For example, the coupon rate on Australian government bond having term to maturity of 10 years is 4.75%, but it goes high to 5.75% if the terms to maturity of the same bond are reduced to 5 years (Blomberg, 2016). Further, there exists an inverse relationship between the coupon rate and the yield to maturity (Gitman, Juchau, and Flanagan, 2015). Thus, if the coupon rate of the bond goes up, the yield to maturity will go down. For example, the Australian government bond having 10 years to maturity has yield to maturity of 2.73%, but it goes down to 2.27% of the term to maturity are decreased to 5 years (Blomberg, 2016). The primary components that play crucial role in determination of the market interest rates are risk free rate, inflation, default risk premium, liquidity premium, and maturity premium. If it is expected that the Australian economy will do well in the upcoming years, there would be less risk of default, rising inflation, liquidity crunch, and instabilities in the market (Brigham and Ehrhardt, 2016). Thus, due to less risk, the premium for risk which is added to the risk free rate in computation of market interest rate will be also be less. Therefore, it could be inferred that the spread on the companys bond would be lower if it is expected that the Australian economy will perform with stability in future (Brigham and Ehrhardt, 2016). If the predictions in regard to the Australian economy go correct, the spread of the companys bond will be decrease. Due to decrease in the spread, the yield to maturity of the bond will go down. The decrease in the yield to maturity of the bond will increase the price of the bond. Thus, the price of the companys bond will increase. This has been illustrated below: When coupon rate and Yield to maturity is same at 8.43% annual Face value 100 Terms (Semi years) 20 Coupon rate 8.43% Yield to maturity 8.43% Half yearly interest 4.22 Yield to maturity (Half yearly) 4.22% Price of bond $100.00 When coupon rate remains at 8.43% but Yield to maturity goes down by 2% Face value 100 Terms (Semi years) 20 Coupon rate 8.43% Yield to maturity 6.43% Half yearly interest 4.22 Yield to maturity (Half yearly) 3.22% Price of bond $114.59 References Blomberg. 2016. Australian Rates and Bonds. [Online]. Available at: https://www.bloomberg.com/markets/rates-bonds/government-bonds/australia [Accessed on: 11 January 2017]. Boral Limited. 2016. Annual report of Boral Limited. [Online]. Available at: https://www.boral.com.au/Images/common/pdfs/annual-reports/Boral-Annual-Report-2016.pdf [Accessed on: 11 January 2017]. Brigham, E.F. and Ehrhardt, M.C. 2016. Financial Management: Theory Practice. Cengage Learning. Finanznachrichten . 2016. Research and Markets- Global Timber Decking Market CAGR of 4.63%. [Online]. Available at: https://www.finanznachrichten.de/nachrichten-2016-09/38476394-research-and-markets-global-timber-decking-market-cagr-growth-of-4-63-by-2020-trends-technologies-opportunities-report-2016-2020-key-vendors-008.htm [Accessed on: 11 January 2017]. Gitman, L.J., Juchau, R., and Flanagan, J. 2015. Principles of Managerial Finance. Pearson Higher Education AU. Tracy. A. 2012. Ratio Analysis Fundamentals: How 17 Financial Ratios Can Allow You to Analyse Any Business on the Planet. RatioAnalysis.net.