Mark Taylor and Jack Rowell, the owners of Tuxedo Air, have decided to expand their operations. They instructed their newly hired financial analyst, Ed Cowan, to enlist an underwriter to help sell $35 million in new 10-year bonds to finance construction. Chris has entered into discussions with Suzanne Leangle, an underwriter from the firm of Raines and Warren, about which bond features Tuxedo Air should consider and what coupon rate the issue will likely have. Although Ed is aware of the bond features, he is uncertain about the costs and benefits of some features, so he isn't sure how each feature would affect the coupon rate of the bond issue. You are Suzanne's assistant, and she has asked you to prepare a memo to Ed describing the effect of each of the following bond features on the coupon rate of the bond. She would also like you to list any advantages or disadvantages of each feature: the security of the bond-that is, whether the bond has collateral. the seniority of the bond. the presence of a sinking fund. A call provision with specified call dates and call prices. A deferred call accompanying the call provision. A Canada plus call provision. Any positive covenants. Also, discuss several possible positive covenants Tuxedo Air might consider. Any negative covenants. Also, discuss several possible negative covenants Tuxedo Air might consider. A conversion feature (note that Tuxedo Air is not a publicly traded company). A floating-rate coupon