The bond sell for is a. $7,936.20.
Number of periods = n = 30*2 = 60 semiannual periods
Yield I/Y= 9%/2 = 4.5%
Semiannual Payment P = 7%*10000/2 = $350
Face Value FV = $10000
Hence, PV = P/(1+r) + P/(1+r)2 + .... + P/(1+r)n + FV/(1+r)n
= P[1 - (1+r)-n]/r + FV/(1+r)n = 350(1 - 1.045-60)/0.045 + 10000/1.04560 = $7936.20
Bonds are a sort of safety sold with the aid of governments and agencies, as a way of elevating cash from traders. From the vendor's attitude, promoting bonds is therefore a way of borrowing cash.
Bonds are issued by governments and agencies after they need to elevate money. via shopping for a bond, you are giving the provider a mortgage, and they agree to pay you lower back the face price of the mortgage on a particular date, and to pay you periodic interest bills alongside the way, normally twice a yr.
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how do businesses use data mining to extract information from large amounts of data, interpret patterns in data
In order to uncover trends in massive data sets and gain deeper insight into their clients, they employ software. It extracts data from data sets, compares it, and aids in decision-making for the business.
In the long run, this aids in strategy development, revenue growth, efficient marketing, and more.
Business employ data mining as a method to transform unstructured data into information that is useful. Businesses can learn more about their customers to create more successful marketing campaigns, boost sales, and cut expenses by employing software to seek for patterns in massive volumes of data. Effective data collection, warehousing, and computer processing are prerequisites for data mining. Data mining is the process of examining and analyzing huge chunks of data to discover significant patterns and trends. Numerous applications exist for it, including database marketing, credit risk management, fraud detection, spam email screening, and even user sentiment analysis.
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at what level of the project management maturity model does optimization of the project management take place?
At level 5 of the project management maturity model optimization of the project management take place. At this level, processes are established and actively used to enhance project management operations.
What is a project management maturity model?Models of project management maturity evaluate a company's project management capabilities. These models offer standards and rating schemes for evaluating talents. Models offer a structure for future process improvement implementation.
Project managers may choose which of the many project management maturity models is ideal for their firm by comprehending the ways in which they differ and are similar. While some models assist general sectors like software development, others support huge enterprises or governmental organizations.
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bozeman sold equipment that it uses in its business for $80,000. bozeman bought the equipment two years ago for $75,000 and has claimed $20,000 of depreciation expense. what is the amount and character of bozeman's gain or loss?
The gain of Bozeman is $20,000 ordinary and $5,000 section 1231 gain
Selling price: $80,000
Original cost: $75,000
Depreciation claimed: $20,000
The current tax basis, which one can arrive at by deducting the amount the property has depreciated from the cost of the initial acquisition, is necessary to calculate section 1231 gains. Then, determine the section 1231 gain by deducting the tax basis from the sale price.
Calculating the gain -
Gain = Selling price - Original cost
= 80,000 - 75,00
= 5,000
The gain on the sale of a depreciable asset that must be declared as ordinary income for tax purposes is known as depreciation recapture. The depreciation of $20,000 is already claimed thus, it will be considered as gain only.
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the economy will move to a point on the short-run phillips curve where unemployment is higher if a. the inflation rate decreases. b. the government increases its expenditures. c. the government decreases taxes. d. the fed increases the money supply.
The economy will move to a point on the short-run Phillips curve where unemployment is higher if a. the inflation rate decreases.
Economics is the take a look at of shortage and its implications for using assets, manufacturing of products and services, increase of manufacturing and welfare over time, and a outstanding form of other complicated issues of vital problem to society.
Economics is the study of the way humans allocate scarce sources for manufacturing, distribution, and intake, both individually and collectively. the two branches of economics are microeconomics and macroeconomics. Economics makes a speciality of performance in production and change.The take a look at of economics facilitates people apprehend the arena around them. It enables human beings to apprehend human beings, organizations, markets and governments, and consequently higher reply to the threats and possibilities that emerge whilst things change.
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marginal cost: select one: a. is calculated as change in total cost divided by change in total output. b. is calculated as change in total output divided by change in total cost. c. increases then decreases, as output increases, to reflect marginal product. d. none of these is true.
Marginal cost a. is calculated as the change in total cost divided by the change in total output.
The increase in manufacturing expenses brought on by the development of extra product units is referred to as a "marginal cost." It is also known as the marginal cost of manufacturing. By estimating the marginal cost, businesses may assess how the volume produced influences the cost and ultimately profits.
Marginal cost is the extra expense spent while producing more units of goods or services, and it is most typically used in manufacturing. It is formed from both variable costs that must still be considered and fixed expenses for things that have already been created. It is calculated by dividing the cost change by the quantity change.
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under the equal pay act, an employer can legitimately pay different wages to male and female employees on the basis of:___.
Under equal pay law, an employer may legitimately pay different wages to male and female employees based on: hours and risks.
What is salary?It is an amount or sum of money that a worker receives for his service rendered, this money is particularly received from a company which pays the workers on a specific date.
This is a fixed payment agreed between the boss and the employee, the payment varies in the employees according to the rank or level within the company, hours worked and the risk in which the worker is exposed to.
In the case of some companies, salaries vary for some people depending on the hours worked and the job position, since there are jobs that are risky and require a high salary cost, as well as personnel who work overtime, which requires a high salary. jobs that are risky and require a high salary cost, as well as personnel who work overtime, which requires a high salary.
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countries that exhibit large stocks of capital, advanced technologies, and a highly educated workforce are usually countries. multiple choice question. upper-middle-income low-income high-income lower-middle-income
Typically, countries are middle-income with significant capital stocks, cutting-edge technology, and a highly educated population.
A country is a unique area of the world, similar to a state, a nation, or another type of political organization. It might be a standalone state or a constituent part of a bigger state. [1] For instance, Wales is a part of the United Kingdom, a multi-part sovereign state, whereas Japan is a separate, independent sovereign state. A nation may be an area that has historically been sovereign (like Korea), a territory that is currently sovereign and has a single government (like Senegal), or a non-sovereign geographic area with very distinctive political, ethnic, or cultural characteristics (such as the Basque Country).
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the use of theoretical capacity results in an unrealistically low fixed manufacturing cost per unit because it is based on . question 15 options: normal costing real available capacity normal capacity utilization an unattainable level of capacity
The use of theoretical capacity results in an unrealistically low fixed manufacturing cost per unit because it is based on an unattainable and idealistic level of capacity.
The British attempted to impose more control over the colonies and force them to pay back theoretical capacity the crown for defending them during the French and Indian War, which led to the American Revolution in large part due to colonial resistance. The American Revolutionary War, commonly referred to as the Revolutionary War or the American War of Independence, was a significant American Revolutionary War conflict. Fighting started on April 19, 1775, and continued until the Lee Resolution on July 2, 1776, and the Declaration of Independence on July 4, 1776, which are all widely regarded as the events that guaranteed the United States' independence. This strong uprising had failed for a number of reasons, including the lack of a unifying leader, lack of cohesiveness, and lack of backing from India's rulers and upper classes.
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Zeng systems is currently operating at full capacity. The firm, has sales of $47,000, current assets of $5,100, current liabilities of $6,200, net fixed assets of $51,500, and a net profit margin of 5 percent. The firm has no long-term debt and does not plan on acquiring any. The firm does not pay any dividends. Sales are expected to increase by 3 percent next year. If all assets, short-term liabilities, and costs vary directly with sales, how much additional equity financing is required for next year?.
If the sales for next year increases by 3%, Zheng systems will require $908.50 additional funding for next year.
Additional funding or additional funds needed (AFN) is the additional resources or capital that a company needs to expand its operation or achieve its target. AFN has a simplied formula, such:
AFN = projected increase in asset - spontaneous increase in liabilities - any increase in retained earnings.
Based on the case, we know that:
Sales = $47,000
CA = $5,100
CL = $6,200
FA = $51,500
Net profit margin = 5%
expected sales increase = 3%
Using the given information, we could know that:
Projected increase in asset = total asset x expected sales increase
Projected increase in asset = ($5,100 + $51,500) x 3%
Projected increase in asset = $1,698
Increase in liabilities = CL x expected sales increase
Increase in liabilities = $6,200 x 3%
Increase in liabilities = $186
Additions to retained earnings = Net income
Additions to retained earnings = $47,000 x 5% x (1+3%)
Additions to retained earnings = $2,420.50
Additional funds needed = increase in total asset - increase in liabilities - additions to retained earnings
Additional funds needed = $1,698 - $186 - $2,420.50
Additional funds needed = $908.50.
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over the next three years, safelifts inc. will pay annual dividends of $.65, $.70, and $.75 per share, respectively. after that, dividends are projected to increase by 2 percent per year. what is one share of this stock worth today at a required return of 14.5 percent? remember to show all work for each step from setting up formulas to final result and list financial calculator inputs to receive credit.
The annualized percentage rate of growth that a particular stock's dividend experiences over time is known as the dividend growth rate. Regular dividend increases are a common goal for many established businesses.
The dividend growth rate is an essential input for dividend discount models, which are stock valuation models.
The dividend discount model can only be used if you can figure out the dividend growth rate. A type of security-pricing model is the dividend discount model. The dividend discount model makes the assumption that a stock's price is determined by the estimated future dividends, which are discounted by the excess of internal growth over the company's estimated dividend growth rate.
The dividend discount model considers a stock to be undervalued if the result of the procedure exceeds the current share price. The dividend discount model is used by investors who believe they can determine a stock's intrinsic value by estimating the future value of cash flow.
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suppose bob leaves his $50,000-a-year job as a financial advisor to p.e.t.s. and starts his own business selling pet-care products. in the first year, his accounting profit is $70,000. based on this level of success, bob should
The economic profit earned by Ernie was $9,500. The marginal cost rises as the marginal product falls. Since the firm supply curve is determined by the marginal cost curve.
Which is located above the minimum average variable cost, it will be upward sloping when the rule of declining marginal returns is in operation. The prices of all inputs used, as well as any opportunity costs, is known as an economic profit or loss. Opportunity expenses and explicit costs are subtracted from earned revenues to determine economic profit. The loss of interest revenue on money and the depreciation of equipment for a capital project are two examples of implicit costs.
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You have developed a new computer operating system and are considering whether you should enter the market and compete with microsoft. microsoft has the option of offering their operating system for a high price or a low price. once microsoft selects a price, you will decide whether you want to enter the market or not enter the market. if microsoft charges a high price and you enter, microsoft will earn $30 million and you will earn $10 million. if microsoft charges a high price and you do not enter, microsoft will earn $60 million and you will earn $0. if microsoft charges a low price and you enter, microsoft will earn $20 million and you will lose $5 million. if microsoft charges a low price and you do not enter, microsoft will earn $50 million and you will earn $0.Construct a payoff table and find the Nash equilibrium if you and Microsoft both make your decisions simultaneously.
Microsoft may earn $30 million or $60 million; however, if it charges a higher price, it may earn million. Should it be $20 or $50 million. To set a high price is the best line of action.
You will enter the market, and Microsoft will charge more for a simultaneous motion game. Game theory looks into how customers make the best decision for themselves in a cutthroat market.
Here is the payoff table:
Enter Don't enter
High 30, 10 60,0
Low 20,-5 50,0
Nash equilibrium is the best outcome for players in a competitive market where nobody has any reason to change their decisions. I could make $10 million or lose $5 million.
Million if I go into the market. If I didn't enter the market, I wouldn't earn any money. The best course of action for me is to enter the market since $5 million is better than nothing.
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Location decisions are basically one-time decisions usually made by new organizations.a. Trueb. False
Location decisions are basically one-time decisions usually made by new organizations. - False.
An agency or company (Commonwealth English; see spelling differences), is an entity—which include a company, an group, or an affiliation—comprising one or extra human beings and having a particular purpose. The word is derived from the Greek word organon, because of this tool or tool, musical tool, and organ. There are a spread of criminal sorts of groups, which includes organizations, governments, non-governmental organizations, political organizations, worldwide organizations, military, charities, no longer-for-income organizations, partnerships, cooperatives, and educational establishments, etc.
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data governance can be defined as: group of answer choices a means to slow down the speed of data. a government task force for defining data quality. a means to increase the speed of data. high-level organizational groups and processes that oversee data stewardship.
High-level organizational groups and processes that oversee data stewardship.
Data stewardship is the management and oversight of an organization's data assets to assist give business clients top notch data that is easily accessible in a reliable manner.
While data governance generally centers around significant level approaches and methods, data stewardship centers around tactical coordination and implementation.
A data steward is answerable for carrying out data usage and security strategies as determined through big business data governance initiatives, acting as a liaison between the IT department and the business side of an organization.
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the price of a bond is equal to the face amount payable at maturity, plus the periodic interest payments.a) trueb) false
The statement "The price of a bond is equal to the face amount payable at maturity, plus the periodic interest payments" is false.
The correct statement is "The price of а bond is equаl to the present vаlue of the fаce аmount pаyаble аt mаturity, plus the present vаlue of the periodic interest pаyments".
What are the bonds?Bonds аre а debt instruments, where the bondholder pаys the issuer аn initiаl sum of money known аs the purchаse price. In turn, the issuer pаys the holder coupon pаyments (аnnuity), аnd а finаl sum (fаce vаlue) upon mаturity of the bond. Bonds cаn be thought of аs printed contrаcts.
The present vаlue of а bond is cаlculаted by discounting the bond's future cаsh pаyments by the current mаrket interest rаte. In other words, the present vаlue of а bond is the totаl of:
The present vаlue of the semiаnnuаl interest pаyments, PLUSThe present vаlue of the principаl pаyment on the dаte the bond mаtures.For more information about the price of a bond refer to the link:
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how does an increase in the price level affect the quantity of real gdp supplied in the long run?
Long-term changes in the price level have no impact on real GDP levels.
How does the amount of real GDP supplied change when prices rise?The real wage rate declines and employment rises when the price level rises and the money wage rate remains constant. The amount of real GDP that is supplied rises. When the money wage rate remains unchanged and the price level declines, the real wage rate increases and employment declines. The amount of real GDP that is supplied falls. Falling product prices and rising real wage rates result from a decline in the price level. Businesses' profits decline. Companies react by decreasing their output rates, and some companies leave the industry. This results in a reduction in the supply of real GDP.
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if the central bank wants to stimulate aggregate demand, it can the money supply, which would the interest rate.
If the central bank wants to stimulate aggregate demand, it can the money supply push down interest rates.
What is a demand?The demand is the amount of a commodity that buyers are able as well as willing to buy at different prices at a particular time. The quantity demanded is the name given to the connection between quantitative and that price demand.
The availability of external financing will rise as the monetary base does. As a result, borrowing costs will decline and borrowing should grow. More purchasing results from increased borrowing, which causes aggregate demand to increase.
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true or false: the change in the real exchange rate measures how much or less expensive foreign goods have become to us citizens, accounting for both exchange rate fluctuations and inflation differentials across countries. true false question. true false
The change in the real exchange rate measures how much or less expensive foreign goods have become to us citizens, accounting for both exchange rate fluctuations and inflation differentials across countries. True
The real exchange rate (RER) between two currencies is the nominal exchange rate (e) multiplied by the ratio P/P* of the prices of the two countries. Therefore, the RER is eP*/P. Consider the case of Germany in relation to the United States.
The nominal exchange rate indicates how much foreign currency can be exchanged for one unit of domestic currency, while the real exchange rate indicates how much domestic goods and services can be exchanged for foreign goods and services.
The real exchange rate indicates how much more or less you can buy abroad (after converting into foreign currency) for a given amount of goods and services that you can buy domestically. In practice, it is the change in the real exchange rate that matters, not the absolute level.
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tonya is performing a risk assessment of a third-party software package for use within her organization. she plans to purchase a product from a vendor that is very popular in her industry. what term best describes this software?
Tonya is performing a risk assessment of a third-party software package for use within her organization. she plans to purchase a product from a vendor that is very popular in her industry. Saas term best describes this software.
As part of the software as a service (SaaS) distribution model, a cloud provider hosts applications and makes them online accessible to consumers. In this paradigm, an independent software vendor (ISV) may contract with a third-party cloud provider to host the application. Or, in cases where a company is larger than Microsoft, the software vendor may also serve as the cloud provider. SaaS is one of the three primary types of cloud computing, along with platform as a service and infrastructure as a service (IaaS) (PaaS). Many IT professionals, corporate users, and regular consumers use SaaS software. Products span from cutting-edge IT hardware to home entertainment services like Netflix. Unlike IaaS and PaaS, SaaS products are frequently advertised to both B2B and B2C users.
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the interest-rate effect is partially explained by the fact that a higher price level reduces money demand. a. true b. false
The following statement "The interest-rate effect is partially explained by the fact that a higher price level reduces money demand" is false.
The term "interest-rate effect" describes how a shift in the price level affects interest rates, which in turn affects investment expenditure and consumption. When borrowing rates rise in response to a rise in the price level, investment and consumer spending—especially on durable goods—decrease.
People are more inclined to borrow money to finance large purchases like homes or vehicles when the interest rate is lower. When customers pay less interest, they have more money to spend, which can lead to an increase in expenditure across the economy as a whole.
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superior human resource management can be a sustained source of high productivity and competitive advantage in the global economy. group startstrue or falsetrue, unselectedfalse, unselected
The given statement of superior human resource management is True.
The area of a company responsible for locating, vetting, hiring, and training job candidates is known as human resources (HR). It also manages benefit plans for employees.
In the twenty-first century, organizations must contend with a company's climate that is changing quickly and a larger need for qualified workers, and HR is crucial in this process.
In his book The Distribution of Wealth, which was released in 1893, American institutional economist John R. Commons used the phrase "human resource." HR departments were legally established, nonetheless, and given the responsibility of resolving conflicts between workers and their employers, not before the 20th century.
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in monopolistic competition: a each firm produces an identical product to every other firm in the industry. b firms earn zero economic profits in the long run. c firms earn large economic profits in the long run. d firms are aware of their strategic interdependence. e price leadership is an important factor in how prices are set.
Each firm produces an identical product to every other firm in the industry. (Option A)
What Is meant by Monopolistic Competition?When a large number of businesses provide rival goods or services that are comparable but imperfect alternatives, monopolistic competition exists. A monopolistic competitive industry has minimal entry requirements, and decisions made by any one firm do not immediately affect those of its rivals.
In what ways does monopolistic competition differ from other forms?The following list represents the traits of monopolistic competition: numerous businesses are present. Similar yet distinctive items are produced by each business. Firms do not accept prices.
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New classical economists believe that an increase in deficit financing by the government will: ________a. reduce government spending. b. increase consumption. c. reduce future taxes. d. increase savings.
New classical economists believe that an increase in deficit financing by the government will increase consumption.
Someone with an economics degree will discover that they're employable in many regions, regardless of the particular enterprise that they will work in. There is robust demand for graduates with expertise of economics during the worldwide exertions marketplace.
Economic Economists take a look at the cash and banking machine and the results of rising interest charges. Public Finance Economists on the whole are involved in analyzing the function of the authorities inside the economy and the effects of tax cuts, finances deficits, and welfare regulations.
There are many diagrams in economics, but there isn't always a large quantity of math. A proviso: the quantity of math within the economics curriculum varies across schools and universities. a few economics departments do no longer require their students to research a lot math or information, but others do.
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discrimination creates a multiple choice smaller domestic output but no redistribution. redistribution of a smaller domestic output. redistribution of a larger domestic output. larger domestic output but no redistribution.
Option d is correct. Discrimination creates larger domestic output but no redistribution.
Individuals' opportunities, well-being, and feeling of agency are all impacted by discrimination. Individuals who are subjected to discrimination on a regular basis may internalize the stigma or prejudice that is held against them, which can lead to poor health, low self-esteem, fear, and stress as well as humiliation.
The unfair or unfavorable treatment of individuals or groups on the basis of traits like race, gender, age, or sexual orientation is known as discrimination. The simple response is yes. But figuring out why it occurs is more difficult.
To make sense of the universe, the human brain spontaneously classifies objects. For example, very young children quickly pick up on the differences between boys and girls. However, we acquire the values we assign to various categories through our parents, friends, and the observations.
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the collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community.
The whole of a person's skills, knowledge, and other intangibles that can be used to create economic value for that person, their employer, nor their community is known as their human capital.
Who or what is the employer?A person who employs or places to work is known as an employer. An employer might be a company, institution, government body, agency, company, consulting firm, nonprofit organization, private firms, store, or individual.
Does 'employer' refer to 'job'?The corporation that employs (hired) you and gives (paid) your wage is the employer; you are the employee. So, for instance, if you work at Apple, Apple is the name of your employer. You might even provide the name of the employer who knows you well.
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suppose that beta was financed by a combination of common stock and $1 million of debt. the interest rate on the debt was 10%, and the corporate tax rate in 2018 was 21%. how much profit was available for common stockholders after payment of interest and corporate taxes?
Profit for common stockholders after payment of interest and corporate taxes is $5,45,100
Gross profit = $790,000
Interest = Debt x Rate of interest
Interest = $1,000,000 x 10% = $1,00,000
Tax rate = 21% or 0.21
Profit to common stockholder = (Gross profit - Interest) x (1 - Tax rate)
Profit to common stockholder = ($790,000 - $1,00,000) x (1 - 0.21)
Profit to common stockholder = $6,90,000 x 0.79
Profit to common stockholder = $5,45,100
The profit that remains at the conclusion of an accounting period for a corporation after paying all expenses and dividends to preferred stockholders is known as "earnings available for common stockholders."
This metric, along with a company's earnings per share are important to common stockholders since they indicate their part of the profits. The value of your small business's common stock may rise if it produces significant earnings available to common stockholders.
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Dean is a social entrepreneur who recently started a social enterprise business with the dual mission of making a profit and positively impacting people and the planet. Combined, what are these two goals known as?
a. Fiduciary responsibilities
b. Consumerism
c. Business culture
d. Triple bottom line
When combined, the two goals that Dean is trying to pursue by making a profit and positively impacting people and the planet is the D. Triple bottom line.
What is the Triple bottom line ?The triple bottom line (TBL) in accounting asserts that businesses should make a commitment to giving social and environmental issues the same amount of attention as they give profitability. According to TBL theory, there should be three bottom lines: profit, people, and the environment.
In the past, companies just cared about their bottom line financially. However, several firms started to understand the link between environmental health, social well-being, and the organization's financial success and resilience as a result of the triple bottom line theory and practice.
Therefore, by trying to ensure that he is positively affecting the planet and the people, as well as still making a profit for the social enterprise business, Dean is engaged in the Triple Bottom Line.
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What is club and its types?
An association of persons who share a common interest or objective is called a club. For example, a service club engages in volunteer or charitable work. Clubs are a particular category of associations.
• Reading circle, often known as a book club, or book discussion group
• A marketing tool is the book sales club.
• Night club
An association of persons who share a common interest or objective is called a club. For example, a service club engages in volunteer or charitable work. There are clubs for social activities, political groups, religious clubs, and clubs for hobbies and sports, among others.
Clubs have been documented historically in all ancient states that have been thoroughly studied. There was a need for people with a shared interest to be able to connect even when they had no blood links after people began residing in greater groups. Clubs and organisations of the kind have been around for a long time, as shown by the Ancient Greek clubs and associations (collegia) in Ancient Rome.
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A balance sheet is a financial statement that reports assets, liabilities, and owners' equity on a specific date. True or false?
True. A balanced sheet is a financial statement of the company, that’s report about the company’s assets, liabilities and shareholder equities.
It’s provide an insight of the company’s finances ( what is owns and owes ) as the date of publication. The balance sheet is made at year – end on a specific date. It’s shows the financial position of the business or company on a specific date, the assets and liabilities shows the performance of the company financially. In which asset refers to what the company owns and liabilities refers to what the company owes. It’s one of the three core financial statements for the evaluation of a business or company.
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an asset has had an arithmetic return of 11.1 percent and a geometric return of 9.1 percent over the last 70 years. what return would you estimate for this asset over the next 10 years? 24 years? 31 years? (do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
The estimated return on assets at 10 years would be 10.84%, at 24 years 10.43% and at 31 years 10.23%
To calculate 't' years
R(t) = t-1/n-1 * geometric return + n-t/n-1 * arithmetic return
where,
R = Return
t = number of years to estimate the return
n = number of observed years
geometric return = 9.1% or 0.091
arthimetic return = 11.1 % 0r 0.111
Here, n shall be held constant as 70 years,
Thus,
R(10)= [(10-1) / (70-1) * 0.091] + [(70-10) / (70-1) * 0.111] = 0.108391304347826 or 10.84%
R(24)= [(24-1) / (70-1) * 0.091] + [(70-24) / (70-1) * 0.111] = 0.104333333333333 or 10.43%
R(31)= [(31-1) / (70-1) * 0.091] + [(70-31) / (70-1) * 0.111] = 0.102304347826087 or 10.23%
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