Pembroke Co. wants to issue new 15-year bonds for some much-needed expansion projects. The company currently has 7 percent coupon bonds on the market that sell for $1,060, make semiannual payments, and mature in 15 years.

What coupon rate should the company set on its new bonds if it wants them to sell at par?(Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

Argos Corp. has 10 percent coupon bonds making annual payments with a YTM of 9.4 percent. The current yield on these bonds is 9.75 percent.

How many years do these bonds have left until they mature?(Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

The shareholders of the Stackhouse Company need to elect seven new directors. There are 960,000 shares outstanding currently trading at $56 per share. You would like to serve on the board of directors; unfortunately no one else will be voting for you.

How much will it cost you to be certain that you can be elected if the company uses straight voting?(Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, i.e. 1,234,567.)

Total cost

$

How much will it cost you if the company uses cumulative voting?(Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, i.e. 1,234,567.)

Total cost

$