What is the bond-equivalent yield of a 12% annual-pay bond?

A study found out that, on average, 10% of a pharmaceutical company's drugs that are placed on the market sell more than $500 million their first year. If a drug sells more than $500 million on its first year on the market, its probability of selling more than $500 million on the second year goes up to 90%. If on the other hand, the drug sells under $500 million during its first year on the market, its probability of selling more than $500 million the second year is only 30%. If a drug sold $750 million the second year after its launch, what is the probability that it sold more than $500 million the first year after its launch?

An analyst has gathered the following information about a company:
110,000 shares of common outstanding at the beginning of the year.
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The company repurchases 20,000 of its own common shares on July 1.
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Earnings are $300,000 for the year.
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10,000 shares of existing 10 percent cumulative $100 par preferred outstanding that is not in
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arrears at the beginning or ending of the year.The company also has $1 million in 10 percent callable bonds outstanding.
The company has declared a $0.50 dividend on the common.
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What is the company's basic Earnings per Share?

Taylor Corporation has determined that a printing press that it purchased in 2008 for $400,000 has become partially obsolete due to newer equipment purchased in 2010. The press had a book value of
$ 160,000 at December 31, 2010. At the end of the press' life, the estimated value is $40,000, and the net future cash flows from using the machine are estimated to be $90,000. These cash flows have a present value of $73,800 and $32,200, from the future cash flows and residual value, respectively. What amount should Taylor record as "loss due to asset impairment" (Under U.S. GAAP)?

Which interest rate theory is most widely accepted as explaining the term structure of interest rates?