Assume that today is december 31, 2016, and that the following information applies to abner airlines:

after-tax operating income [ebit(1 - t)] for 2017 is expected to be $650 million.
the depreciation expense for 2017 is expected to be $110 million.
the capital expenditures for 2017 are expected to be $225 million.
no change is expected in net operating working capital.
the free cash flow is expected to grow at a constant rate of 7% per year.
the required return on equity is 16%.
the wacc is 11%.
the market value of the company's debt is $5 billion.
160 million shares of stock are outstanding.

using the corporate valuation model approach, what should be the company's stock price today? round your answer to the nearest cent. write out your answer completely. for example, 0.00013 million should be entered as 130.

On february 3, smart company sold merchandise in the amount of $5,800 to truman company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. smart uses the perpetual inventory system and the gross method. truman pays the invoice on february 8, and takes the appropriate discount. the journal entry that smart makes on february 8 is:

rural residential development company and suburban real estate corporation form a joint stock company. the longest duration a joint stock company can be formed for is

Cosmetic profits. sally is the executive vice president of big name cosmetics company. through important and material, nonpublic information, she learns that the company is soon going to purchase a smaller chain of stores. it is expected that stock in big name cosmetics will rise dramatically at that point. sally immediately buys a number of shares of her company's stock. she also tells her friend alice about the expected purchase of stores. alice wanted to purchase stock in the company but lacked the funds with which to do so. although she did not have the funds in bank a, alice decided to draw a check on bank a and deposit the check in bank b and then proceed to write a check on bank b to cover the purchase of the stock. she hoped that she would have sufficient funds to deposit before the check was presented for payment. of which of the following offenses, if any, is alice guilty of by buying stock?