A firm needs spare cash to deal with capital budget appropriations, dividend payments, and other large outlays. The interest rate on bank loans is simply quoted as:

Which of the following is not an acceptable approach in applying the lower-of-cost-or-market method to inventory?

a. Inventory location. b. Categories of inventory items. c. Individual item. d. Total of the inventory.

To the nearest dollar, what is the current price of a 9%, $1,000 annual coupon bond that has eighteen years to maturity and a yield to maturity of 7.01%?

A) $1,200 B) $1,000 C) $826 D) $701