1. What is your opinion on the fluctuation of stock prices on the market in the past 10 years?
2. Suppose we have a bond issue currently outstanding that has 25 years left to maturity. The coupon rate is 9% and coupons are paid semiannually. The bond is currently selling for $908.72 per $1000 bond. What is the cost of debt?
3. What is the best way that the discipline of the marketplace can be used as a guide for making liquidity management decisions?