Given the following information, what is the price per troy ounce that will be used for today's marking-to-market for the December silver contract?

Given the following information, what is the price per troy ounce that will be used for today's marking-to-market for the December silver contract? Silver - 5,000 troy oz.: dollars and cents per troy oz.        A.  $9.53 B.  $9.60 C.  $10.185 D.  $10.190 E.  $10.220 Refer to section 23.4

27.	What was the highest price per troy ounce for the December silver futures contract today? Silver - 5,000 troy oz.: dollars and cents per troy oz.        A.  $10.185 B.  $10.225 C.  $10.250 D.  $10.814 E.  $10.830 Refer to section 23.4

28.

Browning Enterprises currently has all fixed-rate debt. The firm would like to convert part of this to floating-rate debt. Which one of the following will accomplish this for the firm?    A.  option on floating-rate bonds B.  forward contract on U.S. Treasury bills C.  interest rate swap D.  currency swap E.  interest rate call option Refer to section 23.5

29.	Which one of the following is the primary difference between a swap contract and a forward contract?    A.  underlying asset B.  number of exchanges C.  daily marking to the market D.  option versus obligation E.  time of payment Refer to section 23.5

30.

Interest rate swaps: I. benefit either the buyer or the seller, but not both. II. are often used in conjunction with a currency swap. III. are commonly used in business. IV. can be used to change the index which determines the variable rate on a firm's debt.    A.  I and III only B.  II and IV only C.  II, III, and IV only D.  I, III, and IV only E.  I, II, III, and IV Refer to section 23.5