Kent corp. (kc), a general contractor building a new dorm at a university, contracted with fine rugs inc. (fri) to have a certain grade of industrial rugs installed in the dorm. the contract price was $180,000. after the rugs were installed, kc was dissatisfied with the rug quality. fri insisted that the rugs installed were appropriate to the contract specifications and demanded full payment. kc sends fri a check for $120,000, which kc believes is the proper value for the rugs installed, and marks the check "paid in full." fri writes "under protest" on the check and deposits it. fri may now, in most states, successfully sue kc for the balance of $60,000.
a. true
b. false

Emil motycka is considered an entrepreneur because

Jackson is preparing for his hearing before the federal communications commission (fcc) involving a complaint that was filed against him by the fcc regarding the interruption of radio frequency. the order to "cease and desist" using the radio frequency has had a detrimental impact on his business. once the administrative law judge prepares his or her initial order, jackson has no further options. no, jackson can request that the matter be reviewed by an agency board or commission. yes, once the initial order is presented, it's only a matter of time before the order becomes final.

Pennewell publishing inc. (pp) is a zero growth company. it currently has zero debt and its earnings before interest and taxes (ebit) are $80,000. pp's current cost of equity is 10%, and its tax rate is 40%. the firm has 10,000 shares of common stock outstanding selling at a price per share of $48.00. refer to the data for pennewell publishing inc. (pp). pp is considering changing its capital structure to one with 30% debt and 70% equity, based on market values. the debt would have an interest rate of 8%. the new funds would be used to repurchase stock. it is estimated that the increase in risk resulting from the added leverage would cause the required rate of return on equity to rise to 12%. if this plan were carried out, what would be pp's new value of operations? a. $484,359 b. $521,173 c. $584,653 d. $560,748 e. $487,805