If the coupon rate on a bond is higher than its yield to maturity then the bond is a Question 5Select one: Zero coupon bond Par bond Discount bond Premium bondConsider the financial ratios for a particular company reported in the following table. Inventory Turnover (IT) 12 Accounts Receivable Turnover (ART) 18 Accounts Payable Turnover (APT) 11 (a) Calculate the cash conversion cycle (CCC) for this company. Fully explain what this number means. (5 marks) (b) If a comparable company has a CCC of 25, which company is doing a better job of managing its working capital? Explain why. (2 marks) (c) Is it better for the CCC to be positive or negative? Explain your answeConsider the financial ratios for a particular company reported in the following table. Inventory Turnover (IT) 12 Accounts Receivable Turnover (ART) 18 Accounts Payable Turnover (APT) 11

(a) Calculate the cash conversion cycle (CCC) for this company. Fully explain what this number means.

(b) If a comparable company has a CCC of 25, which company is doing a better job of managing its working capital? Explain why. 

(c) Is it better for the CCC to be positive or negative? Explain your