11. What does it mean to have a callable bond? Explain in your own words. 15 12. Moody's has assigned a rating of A3 to this long-term debt. Explain what an A3 rating means in your own words. (See ratings chart on the next page, be sure to explain all parts of the rating.) 16 17 18 13. What is the minimum quantity? What do you think minimum quantity means? 14. Calculate the current yield for this bond at this market price. Show you work 19 A B D 15. Explain the current yield calculation and why the current yield for this bond is different than the coupon rate. Is it lower or higher? Why? 20