17) The zero coupon honds of Jk Industries have a market price of s318.46, a face value of to maturity of 6,69 percent. How many years is it until these bonds 1& $1,000, and a yield mature? Assume semiannual e A) 32.28 years B) 16.14 years C) 17.39 years D) 24.01 years E) 34.78 years 1s) Which one of the following bonds is the least sensitive to interest rate risk? A) S-year; 6 percent coupon 3 B) 7-year: 4 percent coupon C) 7-year, 6 percent coupon D) 3-year: 6 percent coupon E) 3-year; 4 percent coupon 19) Farmco just paid its annual dividend of s.32 per share. The dividends are expected to 19) percent annually for the next 4 ycars and then level off to an annual growth rate of 3 percent indefinitely. What is the price of this stock today given a required return of 15 percent? 2 D) 57.32)57.54 A) $3.42 B) $0.03 C) S9.01 ( 20) 20) JL Co. stock currently sells for S64 per share and the required return is 12 percent. The total return is evenly divided between the capital gains yield and the dividend yield. What is the current dividend per share if i's the company's policy to always maintain a C) $3.56 D) $4.09 E) $3.62 A) $4.02 B) $3.84 21) A S1.000 par value corporate bond that pays $60 annually in interest was issued last 21) year. Which one of these would apply to this bond today if the current price of the bond is $996.20? A) The bond is currently selling at a premium. B) The bond is selling at par value. C) The current yield exceeds the coupon rate. D) The coupon rate has increased to 7 percent. E) The current yield exceeds the yield to maturity