Morning View National Bank reports that its assets have a duration of 7 years, and its liabilities average 1.75 years in duration. To hedge this duration gap, management plans to employ Treasury bond futures, which are currently quoted at 112-170 and have a duration of 10.36 years. Morning View’s latest financial report shows total assets of $100 million and liabilities of $88 million. Approximately how many futures contracts will the bank need to cover its overall exposure?

At december 31, 2016, pina corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,810 shares $10,781,000 common stock, $5 par, 4,026,000 shares 20,130,000 during 2017, pina did not issue any additional common stock. the following also occurred during 2017. income from continuing operations before taxes $21,950,000 discontinued operations (loss before taxes) $3,505,000 preferred dividends declared $1,078,100 common dividends declared $2,300,000 effective tax rate 35 % compute earnings per share data as it should appear in the 2017 income statement of pina corporation