Which of the following is NOT generally considered to be a reason for the popularity of Alternative Dispute Resolution (ADR)?
A. Flexibility of the procedure
B. Quicker than civil court
C. Less expensive than civil court
D. Results in a decision which operates as a legal precedent for future cases
Answer: D. Results in a decision which operates as a legal precedent for future cases
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Ownership of an undivided interest in land with no right of survivorship is found in:
A. Tenants in Common B. Joint Tenants C. Fee Simple Defeasible D. Severalty
Mountain Retreat and Resort is undergoing a major expansion. The expansion will be financed by
issuing new 15-year, $1,000 par, 9% annual coupon bonds. The market price of the bonds is $1,070 each. The firm's flotation expense on the new bonds will be $50 per bond. The firm's marginal tax rate is 35%. What is the relevant cost of the new bonds for capital budgeting purposes? A) 5.14% B) 8.45% C) 5.69% D) 4.82%