An efficient portfolio is defined as ________.
A) grouping of assets with same level of risk
B) collection of assets with the aim of maximizing the return
C) an investment in a single asset
D) grouping of assets with the highest possible correlation
Question 2
Corporation X needs 1,000,000 and can raise this through debt at an annual rate of 10 percent, or preferred stock at an annual cost of 7 percent. If the corporation has a 40 percent tax rate, the after-tax cost of each is ________.
A) debt: 100,000; preferred stock: 70,000
B) debt: 60,000; preferred stock: 42,000
C) debt: 60,000; preferred stock: 70,000
D) debt: 100,000; preferred stock: 42,000
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