1 a)A taxable bond with a coupon rate of 5.00% has a market price of 98.04% of par. The bond matures in 15.00 years ans pays semi-annually. Assume an investor has a 33.00% marginal tax rate. The investor would prefer otherwise identical tax-exempt bond if it's yield to maturity was more than _____%

b. Caspian Sea is considering raising $20.00 million by issuing preferred stock. They believe the market will use a discount rate of 10.02% to value the preferred stock which will pay a dividend of $4.50. How many shares will they need to issue?