Questions:

$1.$ Looking at the $91/8$ percent coupon bond, what is its current yield, yield$-$to$-$first call, and yield$-$to$-$maturity?

$2.$ Do you think this bond will be called? Why or why not?

$3.$ What would the value of the $91/8$ percent coupon bond be if the time to maturity was $10$ years rather than $26?$ Can you explain why your answer is correct?

$4.$ What is the required rate of return for the preferred stock? How does this rate compare to the YTM for the HPI $91/8$ percent bond? Is this difference what you would have expected from a risk$/$return standpoint? Why or why not?

$5.$ In the event of liquidation, HPI preferred stockholders are entitled to $$30\mathrm{.}50$ plus accrued dividends. Does this mean that preferred stockholders will receive that amount?

$**$Information is attached in the image.