Paul is the sole incorporator of Hemp Co., a company that processes hemp into clothing. Prior to incorporation, Paul enters into a contract on Hemp Co.'s behalf with a local farmer for the purchase of the crop. After formation of the corporation, the board does not ratify the contract because Paul bought the crop at 3 times the market price. Who is liable to the farmer?

Do you think a travel organization company might be able to get less expensive airline tickets then you as an individual could get? (no less then 25 words)

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

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