19. Marshall Industries has a bond outstanding that has a $1,000 par value and a market price of $1,322. The bond has 25 years remaining to maturity. Assuming an annual market interest rate of 8% and that the bond pays interest semiannually, calculate the annual coupon rate on the bond. (Round to nearest whole percentage)

a. 5%

b. 7%

c. 9%

d. 11%

e. 13%

20. You are considering the purchase of Sanders Corp., a constant growth stock. The stock paid a current price of $3.00. The next year's stock price is expected to be $3.18. If the stock is returning 15%, calculate its dividend yield.

a. 6%

b. 7%

c. 8%

d. 9%