In contrast to policies, procedures are not specific; and like policies, they provide consistency

If a bond investor's rate of return for a particular period equaled the bond's coupon rate, then during that period, the bond's price:

A) remained constant. B) changed, but the direction of the change is irrelevant. C) increased. D) decreased.

Western Auto Inc. pays a $1.77 preferred dividend every quarter and will maintain this policy forever. What price should you pay for one share of preferred stock if you want an annual return of 9.25% on your investment?

A) $66.54 B) $70.54 C) $74.54 D) $76.54