Which of the following statements concerning equipment trust certificates are correct?
I. Equipment trust certificates are typically used to raise funds for purchasing airplanes and railroad engines.
II. Equipment trust certificates are usually issued with a single maturity date.
III. Equipment trust certificates normally mature in 20 to 30 years.
IV. Equipment trust certificates generally offer above-average yields.
A) I and IV only
B) II and IV only
C) I and III only
D) I, III and IV only
Answer: A
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