1. Real estate space markets are segmented for all of the following reasons except:

Space users require specific locations and types of buildings.

Built space is fungible.

Buildings cannot move.

It is difficult and expensive to change buildings from one usage type to another (e.g., from office to apartment).

2. Amce Inc. has a bond in its capital structure that has 20 years to maturity left. The bond has a 8.00% coupon paid annually, and has a par value of $1,000. If investors want to receive 9% from this bond, the bond price should be:

$906.28

$908.71

$914.86

$918.24

$922.16