In the United States, the first party to file a patent on an invention receives the patent even though some other party was the first to invent the invention

Molly Edson sells needlecraft kits to retail stores. Last quarter her sales were 20 percent lower than they had been in the previous period. She attributed her poor performance to her inability to handle a competitor who launched an aggressive trade promotional campaign. As a result of Molly's poor performance in the previous quarter, which of the following is most likely?

A. Both her expectancy and instrumentality estimates will be higher B. Her expectancy estimates will be higher and her instrumentality estimate will remain the same C. Her instrumentality estimates will be lower and her expectancy estimates will remain the same D. Her expectancy estimates will be lower E. Neither her expectancy nor instrumentality estimates will change

Ria's Doll Company has an outstanding preferred issue of stock with a par value of $100 and an annual dividend of 10 percent (of par). Similar risk preferred stocks are yielding an 11.5 percent annual rate of return

(a) What is the current value of the outstanding preferred stock? (b) What will happen to price as the risk-free rate increases? Explain.