1. In a primary stock or bond transaction, money flows from to In a secondary transaction, money flows from to 2. Public corporations have access to new capital because: (Select the one, best answer.) a. They are well-known, large, public companies. b. Investors know management has a fiduciary duty to them. c. Everyone knows the price of their stock. d. Their common shares and bonds trade on secondary markets. e. The SEC has approved their common shares and bonds for issuance. f. They have many equity analysts who follow these companies and write reports. 3. Perfection Corp earned $250 million before tax in 2022 . Its combined Federal and State tax rate was 26%, and the company paid $60 million in dividends. Given a dividend tax rate of 20%, what were total taxes paid from Perfection's earnings? 4. Of the six statements below, which one is the most accurate? a. Managers of a company have a duty to maximize profits. b. The Board of a company must abide by its contract with shareholders. c. The senior management and Board of a company owe a fiduciary duty to shareholders to achieve a fair return on their investment over the long term. d. The Board of a company has a fiduciary duty to pay creditors on time. e. The senior management and board of a company have a legal obligation to shareholders to achieve a fair return on their investment over the long term. f. When conflicts of interest arise between shareholders and senior management, the company claws back senior managers' bonuses