Please help me answer the following below (1-7) using the information below.

S&S Air was founded 10 years ago. The companyhas manufactured and sold light airplanes over this period, and the company's productshave received high reviews for safety and reliability. The company has a niche market in thatit sells primarily to individuals who own and fly their own airplanes. The company has twomodels: The Birdie, which sells for $53,000, and the Eagle, which sells for $78,000.S&S Air is not publicly traded, but the company needs new funds for investment opportunities.Mark Sexton and Todd Story, the owners of S&S Air, have decided to expand their operations. They instructed their newly hired financial analyst, Chris Guthrie, to enlist an underwriter to help sell $20 million in new 10-year bonds to finance construction. Chris has entered into discussions with Renata Harper, an underwriter from the firm of Crowe & Mallard, about which bond features S&S Air should consider and what coupon rate the issue will likely have.

Although Chris is aware of the bond features, he is uncertain as to the costs and benefits of some features, so he isn't clear on how each feature would affect the coupon rate of the bond issue. You are Renata's assistant, and she has asked you to create a memo to Chrisdescribing the effect of each of the following bond features on the coupon rate of the bond. She would also like you tolist any advantages or disadvantages of each feature.

1. The security of the bondthat is, whether the bond has collateral.
2. The seniority of the bond.
3. The presence of a sinking fund.
4. A call provision with specified call dates and call prices.
5. A deferred call accompanying the preceding call provision.
6. A conversion feature (note that S&S Air is not a publicly traded company).
7. A floating rate coupon.