Bandon Manufacturing intends to issue callable, perpetual bonds with annas coupon payments and a par value of $1,000. The bonds are callable at $1200. Oneyear erseat rates are 12 percent. There is a 60 percent probability that long-term interest rifes ver year from today will be 11 percent, and a 40 percent probability that they wis ter 9 percent. Assume that if interest rates fall the bonds will be called What coupon rate should the bonds have in order to sell at par value? (Do not round imermeasur calculations and enter your answer as a percent rounded to 2 decimal places eg-. 32.16.) An election is being held to fill four seats on the board of directors of a frat n whot yos hold stock. The company has 8,700 shares outstanding if the eiection is curduttes under cumulative voting and you own 480 shares, how many more shares must y.a sy.y to be assured of earning a seat on the board? (Do not round intermediate caiculations and round your answer to the nearest whole number, e.g. 32)