21) Clyde and Martha will be retiring in four years and would like to buy a lakehouse. They estimate that they will need $150,000 at the end of four years to buy this house. They want to make four equal annual payments into an account at the end of each year, if they can earn 16 percent on their money, compounded annually, over the next four years, how much must they invest at the end of each year for the next four years to have accumulated $150,000 by retirement? A) $29,606 B) $43,500 C) $25,523 D) $37,500 E) 546,212 22) Billy Smith wants to buy a one-way ticket to HeeHaw Junction, Florida. The bus ticket costs $142 but Billy only has $80. If Billy puts the money in an account that pays 9 percent interest compounded monthly, how many months must he wait until he has his $142 (to the nearest month)? A) 73 months B) 75 months C) 77 months D) 79 months 23) Capital market transactions include which of the following? A) all securities that are purchased in the open market B) common stock of a public corporation C) any security that is purchased from a brokerage firm that is well capitalized D) U.S. Treasury bills E) all of the above 24) An example of a primary market transaction is A) Microsoft repurchasing its own stock from a stockholder B) a sale of some outstanding common stock of Microsoft. C) a new issue of common stock by Microsoft. D) all of the above 25) A corporation's capital losses can be carried back three years and, if any loss still remains, it may be carried forward A) 1 year. B) 3 years C) 5 years. D) 7 years