1. Write about 1-2 paragraphs regarding one thing that you found interesting/surprising in the second half of Dracula.
2. Write 1-2 paragraphs describing the ways that the idea of “monster” is presented in Dracula compared to Frankenstein.
3. Ask one question about the text. This could be a clarifying question or a discussion question.
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Language and Identity in TV show “breaking bad”
Specifications: Typed, 3 pages (cover the topic), double-spaced, 1-inch margins, 12 point font.
Task: Begin by finding a television show “breaking bad” that uses accent in an interesting way. You will need to watch it more than once. In order
to organize the data, make a list of all the characters and the accents they have. Then decide if the characters are good, bad or mixed (both).
Next, decide what feature/personality trait the accent was meant to reinforce. Then, read the credits, find out who portrays the character and find out if they use their native accent or not (the Internet will be useful for this). You will need to figure this out for all the major characters. Lastly, write this up. You may do a movie or show in a foreign language that you speak.
Writing: Part 1 will be an introduction (why you chose the program/movie, how you approached the data). Part 2 will be your analysis of the data. What does
the use of accent mean? If the accent is not native, what features of the accent are there to make you think it is native. Do natives sound like that? What
stereotypes are evoked by the accent (positive or negative)? Part 3 is your conclusions. What does the use of accent mean to the entirety of the
program/movie? Is this good or bad or neutral in this case? How is the use of accent in film/TV a positive or negative thing?
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In the movie Mary Shelley’s Frankenstein, Kenneth Branagh offers a distinct interpretation of the book. Transforming a Romantic novel into a visual version,
he uses the plot differently and, in images, offers a somewhat different view of Frankenstein.
In your essay, please make sure you refer to specific moments, events, and pages. Remember, you do not need to summarize, but analyze. Again, since you are
limited to 4 pages, I recommend you focus your essay on specific points. Don’t try to cover it all.
Your essay (800-1000 words, please, no more than 4 pages) should be well-structured, which includes: a title, an introduction, and a conclusion. Please add
the word count at the end of the essay.
Use the MLA format, http://owl.english.purdue.edu/owl/resource/747/01/.
This includes, but is not limited to: 12 pt. Times New Roman font, Standard Margins, Double-spaced, Page Numbers w/ Last Name in upper-right hand corner, MLA style citation, and Works Cited page.
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My Sisters’s Keeper Movie Critique
This is a movie critique; The movie I choose is “My Sisters’s Keeper” is a 2009 drama. See Instructions below. (APA Format). Areas that must be covered:
• Storytelling
• Acting
• Cinematography
• Editing
• Sound
• Style and Directing
• Impact of society on the film and vice versa
• Genre
• Application of at least one approach to analysis and interpretation
• Overall textual themes
Writing Tips:
• Students must select a film that they have not previously explored in class, either in written assignments or discussion posts.
• Students must establish a coherent thesis statement in the introduction of their paper with a claim that they intend to prove. The body of the essay serves
to support the thesis through an analysis of the film and other relevant material. Avoid simply rehashing descriptive material from other source.
• Support your thesis through textual and formal analysis. Refer to specific shots, scenes, characters, stylistic devices, and themes in the film.
• As much as possible, use technical, literary and industry terms to make your points.
• If needed, you may use additional resources to support your claims. Suggested sources might include academic books and articles; film reviews; and personal opinions from reputable film critics and scholars. Information other than production details obtained from popular sources such as The Internet Movie Database and Wikipedia is not considered reputable.
• Only use plot information to support the thematic points of the paper. Include only one to two sentences of plot summary when explaining each of the required filmic elements.
• Also, students should not choose a film that the authors of the textbook have analyzed in detail.
Writing the Final Film Critique
The Final Film Critique:
1. Must be eight to ten double-spaced pages (excluding the cover and reference pages) in length and formatted according to APA style as outlined in your approved style guide.
2. Must include a cover page with the following:
o Name of paper
o Student’s name
o Course name and number
o Instructor’s name
o Date submitted
3. Must include an introductory paragraph that has a succinct thesis statement.
4. Must address the topic of the paper with critical thought.
5. Must conclude with a restatement of the thesis and a conclusion paragraph.
6. Must use APA style as outlined in your approved style guide to document all sources.
7. Must include, on the final page, a Reference List that is completed according to APA style as outlined in your approved style guide.
Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment.
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Criminal Justice Film Analysis
Based on the movie Gran Torino, make a film analysis and applied the criminal aspects like profiling, racism, direct patrol,types of policing,police- community relations, individual rights,drug crime, multiculturalism and diversity, rape.
Your assignment must follow these formatting requirements:
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Compare and contrast Diegetic and Nondiegetic Sound Analyze diegetic and/or nondiegetic sound in two of the following: North by Northwest, The Fisher King, Jurassic Park, Lost in Translation, Moulin Rouge, One Week. DO NOT CHOOSE BOTH The Fisher King and Jurassic Park for this question.
You may choose one but you must compare the film with one of the other films in the list above. You may discuss just diegetic sound or just nondiegetic sound or both. Do not simply restrict your analysis of sound to music, however.
These papers must be 1200 words (not counting the works cited section). Please include a title (include some reference to the films) and add a WORD COUNT at the end of the paper (before the works cited) and double space your paper. Use a 12 point font. Review the essay checklist as well. You must use the MLA format for research papers (correct format for quotations, works cited, parenthetical references with page numbers, etc.) and adhere to Canadian standards for grammar and spelling (e.g. ?colour? unless you are quoting the word). Make sure to list the films in your works cited and your textbook (if you paraphrase or quote content) as well. Please staple the pages of your paper together, include page numbers on the essay
The Movie Pather Panchali by Director Satyajit Ray Individual Research Essay on Pather Panchali (mainly movie with reference to the book)
To be submitted at the start of lesson week 13
? A 1000?2000 word paper (about 5?10 A4 pages) which should be word- processed 12 point Times New Roman or Arial).
? An essay is not valued for the length of its text but by its analysis and critical arguments, and also new knowledge from reflexive thinking that only the student writer can bring to the writing.
? The essay improves if you can say what you want to say, in the least number of words. You can help yourself in this regard by practising pre´cis writing.
? The essay should be a critical paper that takes a strong position on a socio- economic or socio-cultural or socio-political issue and presents arguments that support the proposition.
? The essay must refer only to film/s (one or more) that have been shown in class. ? The essay is an academic paper and should be written in a suitable style. No
chit-chatty language, good grammar and syntax, tight editing, coherent. ? Photos should not be included unless necessary for illustrating a socio-cultural
point ? we have copyright issues, and the use of photos may cause students to be distracted by the form of the film. If images are used in the text, they should be in black and white. The photos may be used only in the hardcopy essay and not the soft-copy submitted to e-Learn Dropbox for Turnitin is unable to read photos.
? The text should be printed on A4 sheets stapled at the left-hand corner. No need for colour printing, or folders, the academic style should be suitably sober and formal.
? The hardcopy should be submitted for examination at the start of lesson 13, and a soft-copy must be submitted to e-Learn Dropbox for Turnitin (scrutiny for academic integrity ? see SMU’s Code of Academic Integrity) by 11.59pm at the end of that day.
An example of a Film Research essay follows. Please note the in-text citation, and the citation used in the bibliography and filmography (please refer to the Chicago Manual of Style guide in e-Learn), and the design of the text with the first paragraph not indented, but following paragraphs indented.
ARTS007 – Society and Culture in Film-G1
Research Essay Outline
Working Title: “A Series of Unfortunate Events”: Pipe Dreams and Abandonment in a Poverty Stricken Life.
Thesis Statement:
The selfish and opportunistic character of Harihar Roy (father) resulted in his alienation from the reality of his familial poverty and led to a bitter sequence of events that culminated in the death of his daughter Durga.
Abstract:
Despite the good intentions of Harihar for his family, he was too absorbed in his own selfish desire to continue in his family footsteps and be a poet/scholar even though it earned no money. This essay investigates the feature film; Pather Panchali, and suggests that Harihar’s blindness to the reality of the poverty and starvation that his family was in and building up of pipe dreams led to the complete breakdown of the family and the loss of their one and only unmarried daughter. Harihar’s abandonment of family and departure in search of an income changed the course of the family life forever. Harihar should have opened his eyes and ears to his family and listened to his wife whose concerns of fixing the house, buying medicine for Durga, and finding a suitable suitor for Durga could have saved her life and a future for their family.
Point 1 – Opportunistic and Selfish Character
Evidence:
a) He was telling his wife, Sarbajaya, that he must continue to be a scholar and poet
b) He wanted to continue his family legacy
c) He took a job with a wealthy farmer despite no steady wages from his for many months
d) He wanted to continue also performing rituals as his father had done
Point 1 – Unwilling to Listen and See Reality
Evidence:
a) His wife had on many occasions questioned and confronted him about many legitimate concerns
b) He dismissed all these outright and kept repeating “Do not worry”
c) He blamed situation on God saying, “Whatever God does is for the best”
d) He paid no attention to how Durga was behaving with stealing food from neighbors orchard (because she was so hungry) and how Apu only could eat rice all the time.
e) He did not see that Durga was of marriageable age and to find her an appropriate suitor to take care of her, especially considering this was in 1955 Bengali village where women get married early.
Point 3 – Abandonment of family and no communication for many months
Evidence:
a) He left one day abruptly saying he was going to seek employment in the city but did not provide Sarbajaya with enough money or food to sustain herself or the family.
b) He did not respond for many months at a streth and did not inquire about the family’s condition despite knowing the house was falling apart and the poverty was unbearable.
Bibliography:
Bandopadhyay, Bibhutibhushan. 1929. Pather Panchali. Bengal: Ranjan Prakashalay.
Parsipur, Shahrnush. 1989. Women Without Men. Tehran: Iran
Filmography:
Pather Panchali. 1995. Dir.: Satyajit Ray.
http://www.youtube.com/watch?v=m_1n3Tt1RtE&list=PL0vj7O8wvGCoS11FvReUUOhYUjLrIcfaq
Accesed February 20 2014
Comment from Professor for the Research Outline:
Here are some comments on your research outline. Don’t panic if I seem to think that you’ve not got your proposition spot-on. I can see if you tried your best and gave your research outline the thinking that it requires, which means I do know when you’ve not given your best (for whatever reasons), and you must allow that I will be objective.
So why this assignment to blight your evening? The whole idea of this research outline: 1) it starts you thinking about research and writing to prepare you for your essay assignment 2) it allows you to have a PhD level supervisor, think on your ideas and respond to them, and guide you into considering other directions or seeking more depth 3) it is one way to give you grades for a mid-term component, which is a requirement. I think this assignment is more beneficial to your growth of thinking than an MCQ. Do realize it gives me a lot of work, and don’t think I gave the assignment out of sadism, neither am I a masochist, just an instructor is doing what she thinks is the needful.
Note well: You do not have to research according to the lines I suggest. You make your own choices. Feel free to write on a different topic if this is what you want, or write on different movies, or continue with the investigation you started with your research outline. I will grade your essays on that assignment’s own terms. The research outline and the research essay are 2 discretely different assignments. In the next few days in class, you can consult me on your essays, but I can only respond to questions and ideas and not suggest my own, because I have to be objective. Again, remember, you are not bound to follow my suggestions. The essay is yours alone.
Late: The research project does not move beyond a description of what you see as the portrayal of the selfishness of the father character (Hatihari) in Satyatjit Ray’s “Pather Panchali”. Scholarship must move beyond the descriptive to the analytical and then to higher order thinking. So if Hatihari ‘s selfishness is the point being made, we can begin to ask why was the man so intent on writing plays when it was clear that he needed to go out to earn money to feed his family and repair the house. We learn that the man is a Brahmin, a member of the highest, priestly caste. A person brought up on literature, since all Hindu teachings are by way of stories including the Mahabharata and the Ramayana. The movie’s motif of the train, the evidence of the creep of the marketplace into the village points to the changing times. It is not enough to depend on traditions of the caste system for one to hold a place in society. In the modern consumerist society, it is the person who has wealth that is situated high in the social hierarchy. This is the analysis. Higher order thinking come when we extrapolate further to a proposition that the movie comments on a stagnant Indian economy because its people will not do the needful to survive in today’s world of transnational markets. Thus like Harihar’s family, the majority in India are abjectly poor. I do not understand the bibliography. It should list articles and texts that have been referred to/and will be referred to in the essay. Did you read Bandopadhyay, Bibhutibhushan. 1929 book Pather Panchali? or Parsipur, Shahrnush’s “Women Without Men?” Why read the latter book for a discussion of Pather Panchali? And is Bandopadhyay’s book available? The title should be something pithy that makes the point being made in the essay, for example: “Progressive India is but a pipe dream: Satyajit Ray’s Pather Panchali. The thesis statement is along the lines: Satyatjit Ray’s Pather Panchali is a neo-realist film which tells the story of a Brahmin, Harhar Ray (not Roy) who clings to his traditional role as a man of letters. In the 1920s, the time in which the movie is set, the marketplace has crept into Ray’s rural village in Bengal. Money, earned in the marketplace, and not pipe dreams is needed to survive. Harihar’s blithe fatalism and his lack of response to the changing times reduces his family to an abject poverty that ends in tragedy. This essay argues that Satyatjit Ray’s film “Pather Panchali” is a depiction of modern Indian society where little is done to improve the economy and raise the majority of its people out of abject poverty.
Additional Description of Pather Panchali:
Church and Marriage 14th Century
Develop a compare/contrast essay of 750 to 1000 words minimum/maximum with an title page, introduction, body, and conclusion. Include a works cited page.
Be sure to argue a particular point of view in your essay (your thesis) and cite varied examples from the readings in MLA format in order to support your perspective. Please focus on the reading themselves, and avoid using outside sources (particularly open-web sources such as Wikipedia). Whatever you do, DO NOT give recite a biography of the author or retell a story.
Compare and contrast two of the tales in the Canterbury Tales. Possible ideas would be to discuss different areas being satirized, tone, and characters.
Do not retell two of the stories in this essay but lay out similarities and differences in topic, form, or something else that strikes you as important or relevant. Do not repeat a discussion we have seen in the forum.
Compare/Contrast: The Miller and The Merchant tales.
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Discussion of Films and The Passion of Joan of Arc Order Instructions: Address at least three (3) of the following in your analysis: presentational vs. representational acting, objectives, obstacles, actions (both verbal and physical), motivation, beats, personalization, substitution, the “Magic If”, imagery, given circumstances, specificity, relationships (both objective and subjective), ongoing physical activities, secondary activities, sending and receiving, emotional life, status, discovery in the moment, extreme physical and environmental conditions, scenes of exposition, physical character work, subtext, the arc of a scene, moment-to-moment acting, concentration and focus, soliloquies, the character’s center of pain, importance of casting, etc.
These are the films: The Passion of Joan of Arc, Make Way for Tomorrow, Drums Along the Mohawk, Sullivan’s Travels, Sweet Smell of Success
You must reference examples of technique covered in the lectures, as well as Respect for Acting and FLIXACTING to support your arguments.
In addition, you may address the specific political, sociological and economic issues of a particular decade and how you believe they may have influenced the actor’s (or actors’) choices in the film(s). Be specific and thorough in your observations, opinions, and arguments. (Do not include long sections devoted to plot details in your paper. The Special Readers and the Instructor have seen these films – more than once! Instead, get directly to the specifics of your arguments).
.
All papers must be submitted in MLA or Chicago Style format. Use a reasonably sized 12- point fonts, such as Times New Roman or Cambria. Your paper must be between five (5) and seven (7) pages in length. If you have a Works Cited, it will not count for or against the length of your paper. Properly site any and all sources.
Remember — You must cite appropriate portions of both the required reading and the lectures to support the arguments in your papers. Failure to do so will significantly lower your grade.
Discussion of Films
The Passion of Joan of Arc
The type of acting that was used in the 1928 film “The Passion of Joan of Arc” is presentational acting. While the actors do not at any point in the film engage the audience deliberately, it is assumed that the people viewing the film are aware of France’s historical war with the English and how Joan of Arc heroically led her people in several battles against the English before she was eventually captured and burnt at the stake. Another reason that justifies this film’s acting to fall under presentational acting is the fact that the director paid careful attention to the record of events that took place during Joan of Arc’s feats and also the records of her trial and execution in England (Hagen, 2009).
One of the techniques that this film is best known for is the director’s manipulation of the camera to convey various aspects of the film and narrative. In an effort to capture the moods at her trial, the director makes use of lenses that focused really close to the faces of the actors and actresses to personalize the narrative and also capture the mood. The focusing on their faces also serves to emphasize the gloominess of the situation at the trial of Joan.
Other than focusing, another technique that the director of “The Passion of Joan of Arc” used in the filming of the play was an unconventionally low angle for the scenes with the prosecutors. This was meant to exaggerate their size and thus communicate a suggestion of how powerful they were relative to the defendant.
This film was set in a period of time when the world and specifically America, was just recovering from the great depression which saw many people lose their homes among other investments they had. The plot of the film o, on the other hand,s more focused on the life of one family. The fact that the audience would have related with the subliminal reference to the impact of the Great Depression and the film’s being based on a work of fiction means that the director employed both presentational and representational acting. The presentational acting is seen in the opening scene when the elderly couple loses their home in a foreclosure, something some members of the audience would have related with.
The film also features objective and subjective relationships. The family that is made up of Barkley and Lucy together with their children Nell, Cora and George. The fact that they came together at a time of need was objective since it is a norm for members of a family to support one another at such times. However, there is also some subjective relationships and this is seen in the childrens’ unwillingness to accommodate their parents at their hour of need(Hagen, 2009).
The film has a scene of exposition. This takes place when the true colors of the children come out. When it dawns on them that their parents were not going to come, they also refrain from going to the train station to see them off. As they sit pensively, Robert, one of the sons voices out his thoughts and somewhat of an admission about their unkindness towards their parents. His statement about them being “the most good for nothing bunch” clears out any doubts that the audience had about the attitude the children had towards their parents.
The film is loosely based on a true story, this is the American Revolutionary War that saw settlers face off with British troops who had partnered with collaborating Indian tribes to drive settlers off the lands in the Hudson Valley. The audience’s familiarity with this narrative would make this fall into the category of a presentational film but the fact that their view and opinions have no impact whatsoever on the way the movie rolls out, it will have to be categorized as representational. The main protagonist of the film faces various perils and life threatening situations such as the miscarriage by his wife, Lana and also Gil’s wounding. The target audience was American and this would make them inclined to side with the main character.
To place the film in its appropriate historical context, the director makes use of extreme physical and environmental conditions. This includes the dangerous scenario when his wife miscarried as they made their escape on horse-back. The harsh environment is made worse by the fact that they are rendered homeless at a time when winter was nearing. Other than the environmental harshness, the realities of the war are seen in the massive casualties on both sides during the battles.
The film “Drums along the Mohawk” also features the use of secondary activities which helped contribute to the sub-plots. The main secondary activity here was the farming activity on Mrs. McKlennar’s farm. This employment enables them to get back on their feet following the devastating loss in the opening scene (Hagen, 2009).
The form of acting used in the film was representational as the plot is entirely based on a work of fiction. This means that the order of events in the movie take place in a way that the audiences could not predict or relate to. The viewers of this film have somewhat of a vantage point and this gives them a feeling of familiarity with the film as a whole. The film is set such that they almost over-hear everything that Sullivan is planning and they follow him like silent guests throughout his adventure as a homeless man moving around cities by hitch-hiking freight trains.
Sullivan’s adoption of life as a ‘hobo’ brings out another filming technique that the director uses to convey this story. This is the use of extreme physical and environmental conditions to elaborate on the protagonist’s adventure. While it was all make-up, having to dress up as a homeless person, look the part and also ride on freight trains are all forms of discomfort. He lives on charity and has several violent run-ins with other people. The extreme conditions make the story more interesting and give significance to his desire to go on the ‘adventure.’
To give the adventure Sullivan undertakes some life and credibility, there are several secondary activities that take place along the story (Hagen, 2009). At the studio, he is seen engaging in the normal work a film-maker does which is plan his next work. When he lives as a hobo, he goes to different places frequented by the homeless such as the shelter where they sleep and the soup kitchens where they can eat something. When he gets sentenced to the labor camp there is a multitude of men who regularly engage in manual labor in strenuous conditions.
Unlike most films, the main character of the film “Sweet Smell of Success” also doubles up as a villain as opposed to the conventional hero. The style of acting depicted by his character, Hunsecker fits in well under representational acting. Most of his plans are done in secret and the manner in which he carries himself is suggestive of his confidence that his secrets are safe with Falco. This means that there are scenes where the audience is privy to information that other characters do not know. This makes the film interesting in that it enhances the suspense. With the viewer eager to see what will happen next based on the evil plans that have been hatched.
The director of this film also used the scene of exposition to set the mood of the entire story. The main character Hunsecker is on terrible terms with his sister’s lover, Dallas. This hatred coupled with Falco’s desperation creates an opportunity for Hunsecker to manipulate Falco as the resultant public relations nightmare for the musician would have created for him a financial opportunity. As a result of this exposition, the rest of the events that unravel have some basis since the audience can tie it to the initial plan of the protagonist. Without this initial scene, the rest of the scenes, be it the arrests, the violence or the planting of drugs would all be baseless and the film will be hard to understand as all scenes and ideas are merely ‘floating (Hagen, 2009).’
References
Hagen, U. (2009). Respect for acting. John Wiley & Sons.
McKenzie Corporation’s Capital Budgeting
Order Instructions:
For this paper, your writer had completed this assignment before #112158 but I did not make it in this course as I mentioned in the beginning so I an redoing it. This time please I want you to assigned this paper to a writer who is savvy of the subject matter. It is critical that the writer use critical thinking and carefully read all instructions before beginning to respond to the questions. The writer must clearly respond to all 6 questions and must include all calculations where necessary. The writer must properly format the paper in APA using the 6th edition of APA. where necessary use the appendix and reference it in the discussion. The references must also be in APA double space.
• Mini-Case Study: McKenzie Corporation’s Capital Budgeting
The case study, found on page 557 of your course text, deals with the process of corporate budgeting and the types of decisions that must be made. After reading the scenario:
• Briefly answer the six questions at the end (4 to 6 sentences each).
• Include all calculations you were asked to provide.
SAMPLE ANSWER
Introduction
Capital structure of a company refers to the different combination of debt and equity capital that a company utilizes in a bid to get the most optimal ratio that provides the least weighted average cost of capital. Equity capital can be raised from retained earnings while debt capital can be obtained from external bonds and other long term loans (Ross, Westerfield & Jaffe, 2013).
1).
| Economic Growth | Probability | Without Expansion | Value Without Expansion |
| Low | 0.3 | $ 25,000,000.00 | $ 7,500,000.00 |
| Normal | 0.5 | $ 30,000,000.00 | $ 15,000,000.00 |
| High | 0.2 | $ 48,000,000.00 | $ 9,600,000.00 |
| Expected value without expansion | $ 32,100,000.00 | ||
| Economic Growth | Probability | Without Expansion | Value With Expansion |
| Low | 0.3 | $ 27,000,000.00 | $ 8,100,000.00 |
| Normal | 0.5 | $ 37,000,000.00 | $ 18,500,000.00 |
| High | 0.2 | $ 57,000,000.00 | $ 11,400,000.00 |
| Gross Expected value with expansion | $ 38,000,000.00 | ||
| Less cost of equity | $ 5,700,000.00 | ||
| Expected value with expansion | $ 32,300,000.00 | ||
It would be beneficial for the company to undertake the expansion as it would save $200,000.
2). The expected value of debt after one year with and without expansion would remain the same i.e. $29 million as the expansion would be financed by equity.
3). From the calculations above
| Expected value with expansion | $ 32,300,000.00 | ||
| Expected value without expansion | $ 32,100,000.00 | ||
| Net Value Created | $ 200,000.00 | ||
The value of debt would not be affected hence the bondholders would not benefit from the expansion.
The stockholders would get $200,000 while the bond holders would get nothing from the expansion.
4). Without expansion the price of the bonds would remain unchanged as they would not be affected by the expansion the bondholders status would also remain the same. If the expansion takes place then the ratio of equity would increase and the debt to equity ratio would decrease. The rate of return on company bonds would also decrease. It would then result in an increase in the value of bonds and their prices.
The theory of capital structure by Modigliani and Miller (1958) applies in instances where the investors have similar and homogenous expectation. It also applies where the market is perfect and transactional costs are non-existent. It also applies where Corporation and individual investors can actually borrow or obtain financing at the same rate. The risk-free rate doubles as the cost of debt and it must constant while the company must also pay all profits in terms of dividend resulting in no growth for the Company.
5). If the company does not expand then its equity would remain the same as the current year. If the bond issue is redeemed and there is no expansion then the company will not be able to get enough equity to get the right financing it may require for its operations.
If the company agrees on the expansion then it will utilize the equity capital to finance it. These actions would create more equity capital for the company (Myers, 1984, pg.16). Hence the capital would be available but according to Modigliani and Miller (1958) the cost of debt to a company is basically cheaper than the cost of equity. Companies experience some kind of savings when they change from equity financing to debt financing. This is mostly in connection with the payment of taxes. Tax advantages are utilized when companies make use of debt capital especially when writing off interest payments. Equity capital application means that the dividends must be paid. Companies in most countries receive government subsidies when using debt to finance capital projects and not when using equity capital (Lopez-Gracia & Sogorb-Mira, 2008, pg. 136)
McKenzie restaurants Inc would be under utilizing its ability to expand due to no-exploitation of its debt portfolio.
6). The company would save as using equity is much more expensive than using debt capital (cash included) Debt capital attracts some benefits in form of waived interest payments and also the cost of changing from equity to cash. The payment by cash for the expansion would be the best alternative for the company.
According to Myers (1984) companies tend to use a pecking order when utilizing capital. The theory asserts that companies prefer financing from internal sources like retained earnings (equity) as compared to external financing for instance from issuance of new common stock. The major reason being that it’s cheaper to use for example retained earnings besides the company does not have to account or disclose the nature of the funding to outsiders like in the case of borrowing from the public where the prospectus is required to reveal all the information regarding the company’s equity and other sources of funds. Most companies will issue debt first even before issuing common stock incase external financing is unnecessary. When common stock is issued it sends a signal to the shareholders and other prospective investors that something needs to fixed urgently and it may not be positive for the company. However, the ratio of debt to equity depends on other factors in the real world such as the state of the economy, prevailing market interest rates and the urgency of the debt or equity.
References
Lopez-Gracia, J., & Sogorb-Mira, F. (2008). Testing trade-off and pecking order theories financing SMEs. Small Business Economics, 31, 117-136. Doi:10.1007/s11187-007-9088-4
Modigliani, F. and Miller, M. (1958) “The Cost of Capital, Corporation Finance, and the Theory of Investment,” American Economic Review, June, 48:3, 261–97.
Myers, S. (1984)”The Search for Optimal Capital Structure,” Midland Corporate Finance Journal, 1 spring, 6-16
Ross, S. A., Westerfield, R. W., & Jaffe, J. (2013). Corporate finance (10thed.). New York: McGraw-Hill Irwin
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