86 .  Jeffery Marian, an analyst with Arlington Machinery, is estimating a country risk premium to include in his estimate of the cost of equity for a project Arlington is starting in India. Marian has compiled the following information for his analysis:
　　§    Indian 10-year government bond yield = 7.20%
　　§    10-year U.S. Treasury bond yield = 4.60%
　　§    Annualized standard deviation of the Bombay Sensex stock index = 40%.
　　§    Annualized standard deviation of Indian dollar denominated 10-year government bond = 24%
　　§    Annualized standard deviation of the S&P 500 Index = 18%.
 
　　The estimated country risk premium for India based on Marian’s research is closest to:
　　A)   2.6%.
　　B)    4.3%.
　　C)    5.8%.
　　87 . A firm expects to produce 200,000 units of flour that can be sold for $3.00 per bag. The variable costs per unit are $2.00, the fixed costs are $75,000, and interest expense is $25,000. The degree of operating leverage (DOL) and the degree of total leverage (DTL) is closest to:
　　DOL       DTL
　　A)   1.6   2.0
　　B)    1.3   1.3
　　C)    1.6   1.3
　　88. Assume that a company has equal amounts of debt, common stock, and preferred stock. An increase in the corporate tax rate of a firm will cause its weighted average cost of capital (WACC) to:
　　A)   rise.
　　B)    more information is needed.
　　C)    fall.
　　89 .  The uncertainty in return on assets due to the nature of a firm’s operations is known as:
　　A)   business risk.
　　B)    financial leverage.
　　C)    tax efficiency.
　　90 . Which yield measure is the most appropriate for comparing a company’s investments in short-term securities?
　　A)   Money market yield.
　　B)    Discount basis yield.
　　C)    Bond equivalent yield.
　　
　　　　
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