1. Use the information for the question(s) below. Larry the Cucumber has been offered $14 million to star in the lead role of the next three Larry Boy adventure movies. If Larry takes this offer, he will have to forgo acting in other Veggie movies that would pay him $5 million at the end of each of the next three years. Assume Larry's personal cost of capital is 10% per year. The NPV of Larry's three-movie Larry Boy offer is closest to:

		-1.6 million.
		3.5 million.
		-1.0 million.
		1.6 million.

2.Use the information for the question(s) below. Suppose you have $10,000 in cash and you decide to borrow another $10,000 at a 6% interest rate to invest in the stock market. You invest the entire $20,000 in an exchange traded fund (ETF) with a 12% expected return and a 20% volatility. Assume that the EFT you invested in returns -10%, then the realized return on your investment is closest to:

		-26%.
		-24%.
		-20%.
		-10%.

3. Use the table for the question(s) below. Consider the following two quotes for XYZ stock:

November 11th	November 18th
Ask:	25.25	Ask:	26.00
Bid:	25.20	Bid:	25.93

How much would you have to pay to purchase 100 shares of XYZ stock on November 18th?

		$2593
		$2520
		$2525
		$2600