Answered step by step
Verified Expert Solution
Question
1 Approved Answer
is this correct? The following information is available for the common shares of DEF Co.: - 5,100,000 shares authorized; - 3,400,000 shares issued and outstanding;
is this correct?
The following information is available for the common shares of DEF Co.: - 5,100,000 shares authorized; - 3,400,000 shares issued and outstanding; and - 700,000 shares in public float. Calculate DEF Co.'s market capitalization if the current market price of the common shares is $15 per share. $76,500,000$10,500,000$61,500,000$51,000,000 Bob, a small retail investor, wants to purchase a municipal debenture issued by Edmonton but is told by his financial planner that none are available. Why has he been told this? Municipal bonds are sold directly to institutional portfolios and pension funds Municipal bonds can only be sold to exempt investors, who have a high net worth The Alberta Municipal Act prevents cities in Alberta from issuing debt securities Demand is very high for municipal debentures because they are tax exempt An investment dealer submitted a non-competitive tender for $10 million of a new $750 million Government of Canada bond issue. What amount of the issue will the dealer receive and what will they pay? Nothing. Their bid was non competitive so they lost out in the bidding process $10 million at the auction's average yield It will depend on how much of the $750 million Government of Canada issue was available after being first awarded to the competitive bidders $10 million at the lowest auction bidStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started