here are a variety of criteria by which financial markets and their securities can be differentiated. For example, they can be segmented according to the types and maturities of the securities traded, who receives the proceeds of the sale, and the mechanisms used to operate the markets. Consider the following transactions, and indicate which of each category of markets best describes the transaction. Thus, select equity or debt, primary or secondary, and capital or money for each transaction. Transaction Debt or Equity Market Primary or Secondary Market Capital or Money Market Detroit Diesel Services, Inc., a publicly-traded company, sells a new issue of 4.50% twenty-year bonds. Frances called her broker to purchase ten of the 5.25% 10-year bonds recently issued by the Smithsonian Institution. Dmitri uses an online brokerage account to purchase 2,000 shares of Yorkshire Pudding, Inc. at the current market price