Question Business Management Q a) Evaluate the working capital efficiency of Santos in 2014 as compared to 2013 by referring to Source 1. (10 marks) b) In 2014 is Santos financing using predominantly long-term or short-term debt? Are they using predominantly direct or indirect debt financing? How can you tell? What currency are they predominantly borrowing in? Refer to Source 1. (5 marks) c) Imagine you purchased a Santos $1000 face value bond at the end of 2008 when its yield to maturity was 4%. This bond was issued in 2007 and has a fixed annual coupon rate of 4.5% and matures at the end of 2020. Currently it is the end of 2015 and it has a yield to maturity of 5% and you want to sell this bond. If you do sell it, what would be the holding period return for your investment in this bond? (10 marks)