3. For a given class of similar-risk securities, what does each of the following yield curves reflect about interest rates: (a) downward sloping, (b) upward sloping, and (c) flat? 4. Briefly describe the following theories of the general shape of the yield curve: (a) expectations theory, (b) liquidity preference theory, and (c) market segmentation theory. 5. What is a call feature? What are stock purchase warrants? 6. What is the current yield for a bond? How are bond prices quoted? 7. Bond Valuation: Venchi Industries has outstanding a $1,000 par-value bond with an 8% coupon interest rate. The bond has 12 years remaining to its maturity date. a. If interest is paid annually, find the value of the bond when required return is (1) 7%,(2)8%,(3) 10% b. Indicate for each case in part a whether the bond is selling at a discount, at a premium, or its par value. c. Using the 10% required return, find the bonds value when interest is paid semiannually