10.10 Rank from the highest to lowest the liquidity discount you would apply if you, as a...

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10.10 Rank from the highest to lowest the liquidity discount you would apply if you, as a business appraiser, had been asked to value the following businesses:

(a) a local, profitable hardware store;

(b) a money-losing laundry;

(c) a large privately owned firm with significant excess cash balances and other liquid short-term investments; and

(d) a pool cleaning service whose primary tangible assets consist of a 2-year-old truck and miscellaneous equipment. Explain your ranking.

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