Herring Corporation has operating income of $270,000 and a 40% tax rate. The firm has short-term debt of $119,000, long-term debt of $316,000, and common equity of 5435,000. What is its return on invested capital? 17.37% 17.95% 18.62% 19.87% 20.72% ON A 10-year corporate bond has an annual coupon of 9%. The bond is currently selling at par ($1,000). Which of the following statements is CORRECT? The bond's expected capital gains yield is zero. The bond's yield to maturity is above 9% The bond's current yield is above 9% Page 3: 11 12 13 If the bond's yield to maturity declines, the bond will sell at a discount The bond's current yield is less than its expected capital gains yield