CMS Corporation's balance sheet as of today is as follows:
Long-term debt (bonds, at par)$10,000,000
Preferred stock2,000,000
Common stock ($10 par)10,000,000
Retained earnings 4,000,000
Total debt and equity$26,000,000
The bonds have a 4.0% coupon rate, payable semiannually, and a par value of $1,000. They mature exactly 10 years from today. The yield to maturity is 12%, so the bonds now sell below par. What is the current market value of the firm's debt?
A. $5,276,731
B. $5,412,032
C. $5,547,332
D. $7,706,000
E. $7,898,650
Answer: B
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List three behaviors that will likely exclude a group member from emerging as a leader.
What will be an ideal response?
Which of the following is not a "tool" of the New Public Management movement?
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