Attached are the Consolidated Balance Sheet, Consolidated Statement of Cash Flows, and selected footnotes from the $2019$ Annual Report of UnitedHealth Group. For a brief description of the company$$s business and organization, refer to Note $1.1.$ What is the net book value of UnitedHealth Group$$s long$-$term debt on December $31,2019?$ How much of that do they expect to repay within the next $12$ months? $2.$ Is the net book value of UnitedHealth Group$$s long$-$term debt on December $31,2019,$ higher than, lower than, or the same as its face value? By how much? $3.$ Is the effective rate on the $3\mathrm{.}875\%$ notes due December $2028$ greater than, less than, or the same as the coupon rate? Explain your answer and reasoning. $4.$ Did UnitedHealth Group recognize any interest expense pertaining to their $2\mathrm{.}750\%$ notes due February $2023$ during fiscal year $2019?$ If yes, how much? $5.$ a$.$ What is the estimated fair value of long$-$term debt at the end of fiscal year $2019?$ b$.$ Is the estimated fair value of long$-$term debt greater than, smaller than, or the same as the net book value you identified in question $1$ above? What might explain the difference, if any? c$.$ As an analyst, do you think that the fair value or the book value is a better measure of UnitedHealth$$s long$-$term debt? $6.$ UnitedHealth had public debt that came due during fiscal year $2019.$ a$.$ How much cash did they actually pay in $2019$ to retire this debt? b$.$ Was the amount they paid to retire that debt greater than, smaller than, or the same as its book value at the time of retirement? Explain. c$.$ Suppose that in fiscal $2018$ UnitedHealth instead retired their $2\mathrm{.}300\%$ notes due December $2019$ early. How much cash would they have to pay in $2018?$ Would it generate a gain or a loss? Explain your answer. UnitedHealth Group

Consolidated Statements of Cash Flows Description of Business

UnitedHealth Group Incorporated $($individually and together with its subsidiaries, "UnitedHealth Group" and

"the Company"$)$ is a diversified health care company dedicated to helping people live healthier lives and helping

make the health system work better for everyone.

Through its diversified family of businesses, the Company leverages core competencies in data and health

information; advanced technology; and clinical expertise. These core competencies are deployed within two

distinct, but strategically aligned, business platforms: health benefits operating under UnitedHealthcare and

health services operating under Optum.The Company's long$-$term debt also included $$1,204$ million and $$1,300$ million of other financing

obligations.

Maturities of commercial paper and long$-$term debt for the years ending December $31$ are as follows: