1. Why may smaller firms use PB initially to evaluate projects and then use more sophisticated evaluation techniques as the firm grows in size? 2. What is Myers's (1977) contention that makes firms short-term focused? 3. When considering two projects, what is Fisher's rate of return? 4. What causes a project to have multiple IRRs? 5. Consider a mining project in which there are costs to open the mine and to seal the mine at the end of the project. Consider the following cash flows for the project: -$3,787,879 initially, $8,712,121 one year from today, and -$5,000,000 two years from today. How many potential IRRs exist for the project? 6. Why must the MIRR agree with an associated NPV analysis?