CMS Corporation's Balance Sheet as of Today Is as Follows

question 149

Multiple Choice

CMS Corporation's balance sheet as of today is as follows: $$\begin{array} { l r } \text { Long-term debt (bonds, at par) } & \$ 10,000,000 \\\text { Preferred stock } & 2,000,000 \\\text { Common stock (\$10 par) } & 10,000,000 \\\text { Retained earnings } &\underline{ 4,000,000} \\ \text { Total debt and equity } &\underline{ \$ 26,000,000 }\\\end{array}$$ The bonds have a 4.0% coupon rate,payable semiannually,and a par value of $1,000.They mature exactly 10 years from today.The yield to maturity is 12%,so the bonds now sell below par.What is the current market value of the firm's debt?

• A)$5,276,731
• B)$5,412,032
• C)$5,547,332
• D)$7,706,000
• E)$7,898,650

Distinguish between therapies based on operant conditioning, such as token economies, and those based on classical conditioning.

Examine the effectiveness and ethical considerations of aversion therapies.

Comprehend the therapeutic application of modeling and observation in behavior modification.

Understand the role of positive and negative reinforcement in behavior therapy.

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Definitions:

Progressive Need Gratification

Progressive need gratification refers to the ongoing process of satisfying one’s needs and desires in a stepwise or continuous manner.

Existence Need Category

Basic human needs related to physical and material well-being, such as food, water, shelter, and safety.

Alderfer

Refers to Clayton Paul Alderfer's ERG theory, which condenses Maslow's hierarchy of needs into three core needs: Existence, Relatedness, and Growth.

Motivation Factors

Elements or conditions that encourage a person to act or behave in a certain way, often leading to increased effort and energy towards achieving a goal.