Use the following data from Delta’s common size financial statement to answer the question: Earnings after taxes=18% Equity=40% Current assets=60% Current liabilities=30% Sales=$ 300 Total assets=$1400 What is Delta’s total-debt-to-equity ratio（）

单项选择题Which of the following statements concerning the effects of interest rate volatility on bonds with embedded options is FALSE（）

A. As yield volatility increases, the value of callable bonds decreases.
B. A putable bond’s value is its straight bond value plus the value of the embedded put option.
C. A callable bond’s value is its straight bond value plus the value of the embedded call option.

单项选择题WEB, an investment-banking firm, is the principal underwriter for MTEX’s upcoming debenture issue. Wendy Berry, CFA, an analyst with WEB, has found out from an employee in MTEX’s programming department that a serious glitch was recently discovered in the software program of their major new product line. In fact, the glitch is so bad that most of their orders have been canceled. Berry checked the debenture’s prospectus and found no mention of this development. The red herring prospectus has already been distributed. Berry’s best course of action is to:（）

A. inform her immediate supervisor at WEB of her discovery.
B. keep quiet since this is material non-public inside information.
C. notify potential investors of the omission on a fair and equitable basis.