1) Nadine's Boutique has an accounts payable period of 30 days. Sales of $5,300, 53,400, 54,000, and 39,100 are expected for Quarters 1 through 4, respectively. The cost of goods sold is equal to 62 percent of the next quarter's sales. The accounts payable balance is $975 as of the beginning of Quarter 1. What is the amount of the projected cash disbursements for accounts payable for Quarter 2 of next year? Assume a year has 360 days. A) $2,645 B) $2,604 C) $2,486 D) $2,670 E) $2,567 2) Western Shores is considering a project that has an initial cost today of $12,500. The project has a two-year life with cash inflows of $7,400 a year. Should the firm opt to wait one year to commence this project, the initial cost will increase by 4 percent and the cash inflows will increase to $7,900 a year. What is the value of the option to wait if the applicable discount rate is 9.5 percent? A) S521.66 B) S303.93 C) $421.56 D) $182.67 E) $373.63 3) RPC's assets are currently worth $2,700. In one year, they will be worth either $2,000 or $3,500. The risk- free interest rate is 3.5 percent. Suppose the firm has an outstanding debt issue with a face value of $2,500. What is the current value of the firm's debt? A) $2,377 B) $2,263 C) $2,188 D) $2,114 E) $2,425