Hitzu co. sold a copier costing $6,500 with a two-year parts warranty to a customer on august 16, 2017, for $13,000 cash. hitzu uses the perpetual inventory system. on november 22, 2018, the copier requires on-site repairs that are completed the same day. the repairs cost $104 for materials taken from the repair parts inventory. these are the only repairs required in 2018 for this copier. based on experience, hitzu expects to incur warranty costs equal to 3% of dollar sales. it records warranty expense with an adjusting entry at the end of each year. how much warranty expense does the company report in 2017 for this copier? varranty expense 2. how much is the estimated warranty liability for this copier as of december 31, 2017? ted warranty liability 3. how much warranty expense does the company report in 2018 for this copier? warranty expense

Examine the following book-value balance sheet for university products inc. the preferred stock currently sells for $30 per share and pays a dividend of $3 a share. the common stock sells for $16 per share and has a beta of 0.9. there are 2 million common shares outstanding. the market risk premium is 9%, the risk-free rate is 5%, and the firm’s tax rate is 40%. book-value balance sheet (figures in $ millions) assets liabilities and net worth cash and short-term securities $ 2.0 bonds, coupon = 6%, paid annually (maturity = 10 years, current yield to maturity = 8%) $ 5.0 accounts receivable 3.0 preferred stock (par value $15 per share) 3.0 inventories 7.0 common stock (par value $0.20) 0.4 plant and equipment 21.0 additional paid-in stockholders’ equity 13.6 retained earnings 11.0 total $ 33.0 total $ 33.0 a. what is the market debt-to-value ratio of the firm? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.) b. what is university’s wacc? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.)