a. Consider a bond issued at par. The annual coupon is 8 percent and frequency of coupon is semiannual. How would the YTM of this bond be reported in most of the European markets？ b. The market price

Justin Banks just won the lottery and is trying to decide between the annual cash flow payment option or the lump sum option. Justin can earn 8% at the bank and the annual cash flow option is $100,000/year, beginning today for 15 years. What is the annual cash flow option worth to Justin today?

A.$855,947.87.

B.$1,500,000.00.

C.$1,080,000.00.

D.$924,423.70.

Assume U.S.GAAP (generally accepted accounting principles) applies unless otherwise noted.

A company has equipment with an original cost of $850,000, accumulated amortization of $300,000 and 5 years of estimated remaining useful life.Due to a change in market conditions the company now estimates that the equipment will only generate cash flows of $80,000 per year over its remaining useful life.The company’s incremental borrowing rate is 8 percent.Which of the following statements concerning impairment and future return on assets (ROA) is most accurate? The asset is:

A.impaired and future ROA increases.

B.impaired and future ROA decreases.

C.not impaired and future ROA increases.

Although the fact that today viruses are known to 【S1】______

cause cancer in animals and in certain plants, that exists 【S2】______

a great reluctance to accept viruses as being of importance

in human cancer.

Basic biological phenomena generally do not

differ strikingly as one goes from one species through 【S3】______

another. It should be recognize that caner is a biological 【S4】______

problem and not a problem that is unique for man.

Cancer originates when a normal cell suddenly becomes

a cancer cell which multiplys widely and without 【S5】______

apparent restraint. Cancer may originate in many different

kind of cell, but the cancer cell usually continues 【S6】______

to carry certain traits of the cell of origin. The

transformation of a normal cell into a cancer cell may have

less than one kind of cause, but there is good reason to 【S7】______

consider the relationships that exist between viruses

and cancer.

Since there is no evidence which human cancer, as 【S8】______

generally experience, is infectious, many persons

believe that because viruses are infectious agents they

cannot possibly be of importance in human cancer.

However, viruses can mutate and examples are known

in which a virus that never kills its host can mutate to

form. a new strain of virus that always kills its host. It

does not seem unreasonable assume that an innocuous 【S9】______

latent virus might mutate to form. a strain that causes

cancer. Certainly the experiment evidence now available 【S10】______

is consistent with the idea that viruses as we know

them today, could be the causative agents of most, if not

all cancer, including cancer in man.

【S1】

With the most recent figures pointing to an 8% loss of market share, the promotional campaign was deemed a ______ failure.

A．normal

B．frequent

C．complete

D．superficial

CITY TOURS

Old Shoes Museum

Bai Lu Tang, the only comprehensive museum of old shoes in China, is the best place to appreciate the history of Chinese footwear and its place in national culture. Among more than 1,000 pieces, the most representative are the three-inch embroidered shoes, accessories and old photos. These rare treasures are very artistic and enjoyable. Yang Shaorong, the curator, has exhibited his collection in countries like Canada and Singapore.

Place: Room 501, No 8, Lane 780, Hongzhou Lu

Tel: 64460977,64450432

Time: 9: 30 am-5: 30 pm

Ocean Aquarium

The Ocean Aquarium, located near the Oriental TV Tower, is one of the largest in Asia, and features the longest underwater viewing tunnel at 155 metres. The aquarium is divided into eight zones with 28 large themed exhibition areas, displaying more than 300 species and a total of more than 10,000 precious fish around the world.

Place: 158 Yincheng Beilu, Pudong

Tel: 58779988

Time: 9 : 00 am-9: 00 pm

How many exhibits does Old Shoes Museum have?

A．About 780.

B．About 501.

C．About 1 000.

D．About 930.

Hillside Secondary School year is divided into two 18-week semesters. Semester one runs from September to the end of January. Semester two runs from February to late June.

The school day runs from 8:45a. m. to 3: 15p.m. and is made up of five 78-minute periods. Students take four classes and have one period for lunch.

In February, 2000, the school introduced a new system of computerized attendance in order to provide accurate(准确的)records of student lates and absences and to enable communication with parents.

Student evaluation(评价) is a continual process based upon class performance, tests, home work and reports, as well as special projects or formal examinations held at the end of the semester. There will be at least three reports to parents during each semester. After five weeks of class, students carry Earlybird Report home. The semester one Parent/Teacher interview date appears on this report. Mid-term Report is at the ninth week. Marks are then calculated. Mid-term Reports are prepared and mailed in mid-November and late April. Students with marks under 60% after 11 weeks of class will receive an In-Danger Report to remind them that more effort is required as well as careful preparation for final exams. Those notices are mailed home. Final Reports are mailed home in February and July.

The Newsletter is an excellent way for the school to communicate with parents. In addition to providing a profile of our many activities, it contains key dates and information-upcoming events such as parent interviews or exams, changes being considered at the school. Messages from school, parents receive four newsletters each year.

Keep it on the refrigerator!

Each semester, the parents may get at least ______ from the school.

A．an Early-bird Report, a Mid-term Report and the Newsletters

B．an Early-bird Report, a Mid-term Report and the Final Report

C．a Mid-term Report, an In-Danger Report and the Final Report

D．a Mid-term Report, a Final Report and Newsletters

" The Live 8" is the name of ______.

A．a band

B．a festival

C．a place

D．a series of concerts