1. Describe the difference between cumulative and non-cumulative preferred stock.
2. If a Brazil-based firm borrows $2 million for two years at 5.00% and during the period the dollar appreciates from R$2.00/$ to R$2.80/$, what is the annualized R$ cost of this debt?
3. Staind, Inc., has 6 percent coupon bonds on the market that have 8 years left to maturity. The bonds make annual payments. If the YTM on these bonds is 10 percent, what is the current bond price?