Builtrite's upper management has been comparing their books to industry standards and came up with the following question: Why is our gross profit margin higher than the industry standard and our operating profit margin lower than the industry standard?

		Builtrite has lower than average operating expenses
		Builtrite has higher than average operating expenses
		Builtrite has lower than average interest expense
		Builtrite has higher than average interest expense

Barry Cuda is considering the purchase of the following Builtrite bond: $1000 par, 6 1/4% coupon rate, 15 year maturity that is currently selling for $980. If Barry purchases this bond, what would his approximate yield to maturity be?

		5.95%
		6.47%
		6.70%
		6.86%

Beginning in 5 years, (end of years 5, 6 and 7) Sally Mander will receive three annual benefit checks of $25,000 each. If Sally assumes an interest rate of 6%, what is the present value of these checks?

		$29,550
		$33,615
		$52,925
		$56,025

Builtrite Furniture just paid an annual dividend of $2.75 last week and investors' believe that dividends will continue to grow at a 7% rate into the future. The current price of Builtrite's common stock is $72. What return do investors' require of Builtrite stock?

		11.1%
		11.4%
		11.7%
		10.8%

Which of the following business organization set-ups has the least potential liability for all owner(s)?

		corporation
		limited partnership
		general partnership
		sole proprietorship