In October 2016, Dan Morris for the International Director reported the following information: ... Apple Inc. has accumulated cash reserves in excess of $200 billion, but most of this money is stashed outside the US ... Meanwhile, the company has become the biggest bond issuer in the world, raising $80 billion in the last four years.

a. Why did Apple have so much cash stored outside of the US?

b. For what purpose(s) did Apple borrow so much money by issuing bonds?

c. What happened recently that reduced the need for companies like Apple to hoard cash and reduced the need for them to issue bonds?