9. Cold Boxes Ltd. has 100 bonds outstanding (maturity value = $1,000). The nominal required rate of return on these bonds is currently 10 percent (Kd), and interest is paid semiannually. The bonds mature in 5 years, and their current market value is $768 per bond. What is the annual coupon interest rate?

8%

6%

4%

2%

0%

You wish to earn a return of 13% on each of two stocks, X and Y. Stock X is expected to pay a dividend of $3 in the upcoming year while Stock Y is expected to pay a dividend of $4 in the upcoming year. The expected growth rate of dividends for both stocks is 7%. The intrinsic value of stock X ______.

	cannot be calculated without knowing the market rate of return
	will be greater than the intrinsic value of stock Y
	will be the same as the intrinsic value of stock Y
	will be less than the intrinsic value of stock Y
	none of the above is a correct answer.