Crandal Dockworks is undergoing a major expansion. The expansion will be financed by issuing
new 15-year, $1,000 par, 9% annual coupon bonds. The market price of the bonds is $1,070 each.
Crandal's flotation expense on the new bonds will be $50 per bond. Crandal's marginal tax rate is
35%. What is the pre-tax cost of debt for the newly-issued bonds?
A) 10.25% B) 8.76% C) 7.49% D) 8.12%
B
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Which sentence is expressed correctly?
A) The following employees will retire in June. Each has served our company for 30 years.Michael Stacy Joe LandonBeth Fortun Gabriela Sanchez B) The following employees will retire in June. Each has served our company for 30 years:Michael Stacy Joe LandonBeth Fortun Gabriela Sanchez C) The following employees will retire in June: Each has served our company for 30 years.Michael Stacy Joe LandonBeth Fortun Gabriela Sanchez
The customer order cycle occurs at the
A) customer/retailer interface. B) retailer/distributor interface. C) distributor/manufacturer interface. D) manufacturer/supplier interface.
?The name given to a diagram that represents the positions and relationships within an organization is a(n)
A. ?organizational chart. B. ?organizational outline. C. ?chain of command. D. ?organizational identification.
You take a long position in a stock when you
A) buy the stock. B) sell the stock. C) margin the stock. D) lend the stock.