LNG Corporation and Midstates Utility Company enter a contract for a sale of liquefied natural gas. LNG draws a draft unconditionally ordering Midstates Utility to pay $50,000 to LNG's order in sixty days. Midstates Utility signs and dates the draft.? Refer to Fact Pattern 23-2. This instrument is?
A) a banker's acceptance

Hawley's inventory turnover ratio in 2007 was

The following information was available for Hawley Company at December 31, 2007: beginning inventory $160,000; ending inventory $240,000; cost of goods sold $700,000; and sales $1,000,000. a. 5.0 times. b. 4.3 times. c. 3.5 times. d. 2.9 times.

Confidence Bank has made a loan to Risky Corporation. The loan terms include a default risk-free borrowing rate of 8 percent, a risk premium of 3 percent, an origination fee of 0.1875 percent, and a 9 percent compensating balance requirement. Required reserves at the Fed are 6 percent. What is the expected or promised gross return on the loan?

A. 11.19 percent. B. 11.90 percent. C. 12.29 percent. D. 12.02 percent. E. 12.22 percent.