1. Ulrich Inc. just announced the quarterly earnings report for its fiscal second quarter and a quarterly dividend. The net income for the second quarter was $650,000, of which 30% will be paid as dividends. The balance sheet at the end of the fiscal first quarter had a retained earnings balance of $3,545,000. Calculate the retained earnings that will be shown on the balance sheet at the end of Ulrich's fiscal second quarter.

2. Ulrich Inc.'s articles of incorporation authorize the firm to issue 500,000 shares of $5 par value common stock, of which 410,000 shares have been issued by the company. What is the total dedicated capital (i.e., total par value of common equity) on the firm's balance sheet?

3. Bond prices decline as interest rates increase. This is called bond interest rate risk. The amount of interest rate risk depends on what particular features of a bond?