A 36-year maturity bond with par value $1,000 makes semiannual coupon payments at a coupon rate of 14%. What is the EFFECTIVE annual yield to maturity of the bond if the bond sells for $1,080? A. 6.48% B. 12.95% C. 13.37% D.5.64% E. 11.27% QUESTION 34 You sell short 300 shares of Microsoft which are currently selling at $30 per share. You post the 50% margin required on the short sale. Your broker requires a 30% maintenance margin. Assume you earn no interest on the funds and ignore any dividends. If you earn no interest on the funds in your margin account what will be your rate of return after one year if Microsoft is selling at $27? (Ignore any dividends) A. 15.00% B. 10.00% C.5.00% D. 6.67% E. 20.00% The Closed Fund is a closed-end investment company with a portfolio currently worth $275 million. It has liabilities of $4.2 million and 6 million shares outstanding. What is the NAV of the fund? A. $40.99 B. $51.85 C.$53.09 D. $45.13 E. $50.61