The security that represents the residual ownership of a firm and has no priority in bankruptcy is called<u> a convertible bond</u>.
The correct option is A.
<h3>What is
bankruptcy?</h3>
People or other entities who are unable to pay their creditors back can seek some or complete relief from their debts through the legal process known as bankruptcy. In most jurisdictions, bankruptcy is mandated by a court order, frequently on the debtor's initiative.
<h3>What is residual ownership?</h3>
The common stockholders are paid out last and only if all other claims have been fully satisfied. The common stockholder is therefore referred to as the company's residual owner.
<h3>What is convertible bond?</h3>
A convertible bond, convertible note, or convertible debt is a kind of bond that allows the holder to convert it into a predetermined number of shares of common stock in the firm issuing it, or cash equivalent to that amount. It is a hybrid security having traits similar to equity and debt.
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I understand that the question you are looking for is:
The security that represents the residual ownership of a firm and has no priority in bankruptcy is called:
A. a convertible bond.
B. senior debt.
C. common stock.
D. preferred stock.
E. retained earnings.
Answer:
taxable income per pay period = $1,637.50
Explanation:
first we must determine Yvette's pay per period. Since she is paid semimonthly, that means she gets paid twice a month = $42,000 / (12 x 2) = $42,000 / 24 pay periods = $1,750 per pay period
her 401 (k) contributions = $1,750 x 3% = $52.50
her medical premium = $60
taxable income per pay period = $1,750 - $52.50 - $60 = $1,637.50
Answer:
8.46%
Explanation:
Monthly interest rate = 0.640%
Number of month in year = 12
Investment in non-interest bearing = 6%
Effective annual interest = [(1 + Monthly interest rate)^Number of month] - 1 / (1 - Investment in Non-interest)
Effective annual interest = [(1 + 0.640%)^12] - 1 / (1 - 6%)
Effective annual interest = (1.0064)^12 - 1 / 0.94
Effective annual interest = 1.07956187072 - 1 / 0.94
Effective annual interest = 0.07956187072 / 0.94
Effective annual interest = 0.084640288
Effective annual interest = 8.46%
Hence, the Effective annual is 8.46%.
