A company has zero-coupon bonds outstanding that mature one year from today and have a face value of $500. The bonds do not include any covenants that restrict the company from issuing additional debt, even if this additional debt is of higher seniority than the existing bonds. The company will realize all of its cash flow next year. This cash flow will be $200 with probability 1/3, $600 with probability 1/3, and $1,000 with probability 1/3. The company is planning to issue new bonds with a face value of $200 that will be senior to the old debt and that will also be due in one year. Assume for simplicity that the risk-free rate and market risk premium are zero (so there is no discounting, and thus the value of a claim today is equal:.

At a roundabout, you must yield to a. already in the roundaboutb. entering the roundaboutc. only if their turn signal is ond. only if they honk at you

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Which of the following differentiates cost accounting and financial accounting? a. the primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers. b. cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions. c. cost accounting measures information related to the costs of acquiring or using resources in an organization, whereas financial accounting measures a financial position of a company to investors, banks, and external parties. d. cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products.