Orca Industries' 9.2% bonds currently sell for $770.77. They mature in 15 years and have a par value of $1,000. If these bonds pay interest semiannually, what is the current yield on this bond?

	12.77%
	12.41%
	11.94%
	9.91%
	12.65%

Amalgamated Consolidated is growing quickly. Dividends are expected to grow at a 12.58 percent rate for the next 4 years, with the growth rate falling off to a constant 1.65 percent thereafter. If the required return is 9.75 percent and the company just paid a $3.35 dividend. what is the current share price? (Do not round your intermediate calculations.)

	$57.79
	$60.83
	$55.97
	$54.75
	$59.01

A stock has had returns of -8 percent, -6 percent, 10 percent, 5 percent, and 7 percent over the last five years. What is the geometric average return over this period?

	-1.68%
	-0.50%
	1.60%
	1.34%
	-1.20%

Industrial Consolidated is expected to pay a dividend of $4.20 per share next year. Dividends are expected to grow at 3.10% per year indefinately. If investor's have a required return of 11%, how much should the stock sell for?

	$53.16
	$54.81
	$39.37
	$38.18
	$49.26

Sail Fish Corporation offers 11.5 percent coupon bonds with semiannual payments and a yield to maturity of 11.68 percent. The bonds mature in 5 years. What is the market price per bond if the face value is $1,000?

	$993.33
	$1,112.52
	$1,072.79
	$1,142.32
	$1,023.13

Assume the average return on high yield bonds was 15.6% over the past 50 years. If the average return on Treasury bills was 3.1% over that period, what is the historical risk premium for high yield bonds?

	10.50%
	12.50%
	9.50%
	11.50%
	8.50%