Messenger, Inc. bonds have a 4% coupon rate with semiannual coupon payments and a $1,000 par
value. The bonds have 11 years until maturity, and sell for $925. What is the current yield for
Messenger's bonds?
A) 2.16% B) 3.45% C) 5.52% D) 4.32%
D
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A company sells a plant asset that originally cost $150,000 for $50,000 on December 31, 2007. The accumulated depreciation account had a balance of $60,000 after the current year's depreciation of $15,000 had been recorded. The company should recognize a
a. $100,000 loss on disposal. b. $40,000 gain on disposal. c. $40,000 loss on disposal. d. $25,000 loss on disposal.
Which of the following statements is true when creating a corporation in the United States?
A) Each of the 50 states has a general incorporation statute that stipulates the articles of incorporation to be used in that state. B) Incorporation is a federal matter and requires the recording of articles of incorporation with the U.S. Secretary of State. C) Corporations cannot be created without the enactment of a local ordinance in the city or county where the corporate headquarters is to be located. D) Corporations are created by private agreement and do not require the filing of any documents with a government official.