1. Retail investors that read SeekingAlpha.com or other sources of market information and make trades based on the belief that they have identified mispriced securities:

2. A shareholder who receives rights to buy shares from a company raising new capital through a rights offerings is:

3. The APV methodology is designed to explicitly recognize the value of financing effects. Sometimes firms can be persuaded to shift operations to a location where the government enables the firm to borrow money at below-market interest rates. The non-market rate financing impact on the APV in these situations is: