Write $"$T$"$ for True or $"$F$"$ for False.

$11.$ Convertible bonds can be exchanged for preferred stock.

$12.$ Warrants are short$-$term instruments that expire quickly.

$13.$ Equity financing includes issuing common or preferred stock.

$14.$ Dividends are a legal obligation of corporations.

$15.$ The payback period accounts for the time value of money.

$16.$ Callable bonds are favorable to the issuer when interest rates fall.

$17.$ Firms often maintain stable dividends to please investors.

$18.$ Operating leases transfer asset ownership to the lessee.

$19.$ High fixed costs in operations can lead to higher financial risk.

$20.$ The risk premium is the difference in return between a risky and a risk$-$free asset.