1. 7 years ago Eastern Corporation issued 20-year bonds that had a $1,200 face value, paid interest annually, and had a coupon rate of 9 percent. If the market rate of interest is 5.5 percent today, what is the current market price of an Eastern Corporation bond.
2. What are the pros and cons of top-down budgets, bottom-up budgets, and top-down bottom-up budgets? 2. Which is best to use and why?