12. A corporate bond yields 8.5 percent and a municipal bond yields 5.2 percent. What's the critical marginal tax rate?

A. 40.23%

B. 38.82%

C. 41.78%

D. 39.35%

15. Which of the following reports are always included in a 10K filing with the SEC?

I. statement of cash flows II. balance sheet III. pro-forma statement IV. income statement

A. II, III, and IV only

B. I, II, III, and IV

C. IV only

D. I, II, and IV only

19. A sinking fund is an account used for which of the following purposes?

A. To provide funds to make interest payments if a corporation experiences financial distress

B. To store stock certificates to be used for convertible bonds

C. To provide for scheduled redemptions of outstanding bonds

D. To make dividend payments to shareholders