What rating must Luther receive on these bonds if they want the bonds to be issued at par?
Luther Industries needs to raise $25 million to fund a new office complex. The company plans on issuing ten-year bonds with a face value of $1,000 and a coupon rate of 7.0% (annual payments). The following table summarizes the YTM for similar ten-year corporate bonds of various credit ratings:
Rating AAA AA A BBB BB
YTM 6.70% 6.80% 7.00% 7.40% 8.00%
A) A
B) B
C) BBB
D) AA
Answer: A
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Neptune Fabrication Plant has provided you with the following information
Total manufacturing overhead costs estimated at the beginning of the year $252,000 Total direct labor costs estimated at the beginning of the year $123,000 Total direct labor hours estimated at the beginning of the year 5,250 direct labor hours Actual manufacturing overhead costs for the year $241,000 Actual direct labor costs for the year $131,000 Actual direct labor hours for the year 5,000 direct labor hours The company bases its manufacturing overhead allocation on direct labor hours. What was the unadjusted ending balance in the Manufacturing Overhead account? A) $27,390 credit balance B) $27,390 debit balance C) $1,000 credit balance D) $1,000 debit balance
A primary objective of a grievance process is to provide employees with a fair review and, if necessary, an appeal of disciplinary actions taken by management
Indicate whether the statement is true or false