Question: a) Is the shareholder wealth maximization goal a short- or long-term goal? b) In relation to the long-term debt, explain the meaning of the term

a) Is the shareholder wealth maximization goal a short- or long-term goal?

b) In relation to the long-term debt, explain the meaning of the term sinking fund. Explain why bondholders often prefer a sinking fund provision in a bond issue.

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