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31. Use the option data from July 13, 2009 in the following table to determine the rate Google would have paid if it had issued

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31. Use the option data from July 13, 2009 in the following table to determine the rate Google would have paid if it had issued $101.89 billion in zero-coupon debt due in January 2011. Suppose Google currently had 318.41 million shares outstanding, implying a market value of $134.22 billion. (Assume perfect capital markets.) GOOG Jul 13 2009 @ 13:10 ET 422.27 +7.87 Vol 2177516 Open Ask Int Calls Bid 11 Jan 150.0 (OZF AJ) 11 Jan 160.0 (OZF AL 11 Jan 200.0 (OZF AA) 11 Jan 250.0 (OZF AU) 11 Jan 280.0 (OZF AXI 11 Jan 300.0 (OZF AT 11 Jan 320.0 (OZF AD) 11 Jan 340.0 (OZF AI) 11 Jan 350.0 (OZF AK) 11 Jan 360.0 (OZF AM) 11 Jan 380.0 (OZF AZ) 11 Jan 400.0 (OZF AU) 11 Jan 420.0 (OUP AG) 11 Jan 450.0 (OUP AV) 273.60 264.50 228.90 186.50 162.80 148.20 133.90 120.50 114.10 107.90 95.80 85.10 276.90 267.20 231.20 188.80 165.00 150.10 135.90 122.60 116.10 110.00 98.00 87.00 100 82 172 103 98 408 63 99 269 66 88 2577 74.60 61.80 76.90 63.30 66 379

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