15. There were no share issues or stock repurchases during the year. How much did the firm pay in dividends? A. 4 B. 8 C. 10 D. 12 16. A firm reported S130 million increase in cash over a year. It also reported $400 million in cash flow from operations, and a net $75 million paid out to claimants in financing activities. How much did the firm invest in investing? A. 530 B. 170 C. 195 D. 225 17. The shares of Nike, Inc., traded at $55 per share at the beginning of fiscal year 2008 and closed at $67 per share at the end of the year. Nike paid a dividend of 87.5 cents per share during the year. What was the return to holding Nike's shares during 2008? A. 23.41% B. 12.87% C. 87.5% D. zero 18. A firm with a return on common equity (ROCE) of 20% has financial leverage of 40% and a net after-tax borrowing cost of 3% on $240 million of net debt. What rate of return does this firm earn on its operations? A. 15.14% B. 17.18% C. 23.18% D. 30.25% 19. A firm reported 7000S Operating income (OI) for year 2017 is, net operating assets (NOA) 8000S for year 2017, and net operating assets (NOA) 10000S for year 2016 is, What was the firm's Free cash flow for year 2017? A. 2000 B. 4000 C. 5000 D. 9000