1. Provide a critique of the use of the dividend growth model and the Capital Asset Pricing model as ways to estimate the cost of equity for a company. 

2. Provide 3 arguments why business should take on debt finance within a business and 3 arguments why financial gearing should be avoided. You can present general points and points relating to specific positions that businesses could be in which justify the use / exclusion of debt finance. 

3. Identify and explain the issues with presenting NPV calculations. Students should refer to the difficulties that might exist estimating the project variables used in the calculation