A $1,000 par value, 12-year annual bond carries a coupon rate of 7%. If the current yield of this bond is 7.995%, its market price to the nearest dollar is

A sole proprietorship is a popular form of business because

A. it is heavily regulated by the government. B. it is taxed more than other forms. C. it is hard to dissolve. D. the proprietor does not have direct control. E. it is easy to form.

Which of the following statements is true of novation?

A) Novation is a type of discharge of contract in which the original agreement is substituted with a new one. B) Novation leads to a change in the contractual duties of the new party. C) Novation can be carried out only if all the original parties agree to the substitution of new parties. D) Novation refers to a particular future event that terminates the contract if it does not follow the execution of the contract.