Please answer 20-24

19) A bond that can be paid off early at the issuer's discretion is referred to as being which type of bond? 19 A) Callable. B) Unsecured. Senior Par value E) Subordinated. 20) A bond that pays interest annually yielded 6.48 percent last year. The inflation rate for 20)_ the same period was 2.5 percent. What was the actual real rate of retum? A) 3.88 percent B) 4.25 percent C) 4.19 percent D) 3.49 percent E) 3.41 percent tert cent Toflatyn 6. 4s 21) Kaiser Industries has bonds on the market making annual payments, with 14 years to 21) maturity, a par value of $1,000, and selling for $1,382.01. At this price, the bonds yield 7.5 percent. What is the coupon rate? A) 8.00 percent B) 10.50 percent 2.00 percent D) 9.00 percent E) 8.50 percent 22) J&J Foods wants to issue some 6.5 percent preferred stock that has a stated liquidating 22) value of $100 a share. The company has determined that stocks with similar characteristics provide a return of 9.5 percent. What should the offer price be? A) $71.38 B) S77.26 C) S64.20 D) $68.42 E) $62.60 23) 23) Timber Co. is a mature manufacturing firm. The company just paid a S540 annual dividend and management expects to reduce the payout by 9 percent each year indefinitely. How much are you willing to pay today per share to buy this stock if you require a return of 14.5 percent? A) $20.91 B) $34.79 C)89.35 D)98.18 E)S18.27 24) Yummy Bakery just paid an amnunkdivden increase that amount by 2.2 this stock next year, how much should you expect-to pay return for this type of security is 14 percent at the time of your purchase? A) S19.47 B) S20.20 C)S18.16 D) $18.83 te of E)$19.89