1. The long-term debt of Topstone Industries is currently selling for 104.50% of its face value. The issue matures in 10 years and pays an annual coupon of 8%. What is the cost of debt?
2. What are the major currency exchange regimes in the world?
3. When do you put a negative sign for future value, and when do you put it for present value? On p.154, it's for PV, on the problem Ch.4 Problem 5P, it's for FV.