| Which of the following transactions takes place in the primary market?

Which of the following transactions takes place in the primary market?

Ann asked:


A. Buying 100 shares of Microsoft on the Nasdaq Stock Market
B. Buying a corporate bond that was issued in 1990
C. Selling 100 shares of Merck on the New York Stock Exchange
D. Buying a Treasury bond directly from the Treasury

Which of the following new securities issues would likely have the highest underwrinting discount?

A. A bond issued by the City of Denver
B. A bond issued by DuPont
C. A U.S/ Treasury bond
D. Shares of a start-up biotech firm

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