18. Your older sister has deposited $10,000 today at 12 percent interest for 10 years. You would like to have just as much money at the end of the next 10 years as your sister will have. However, you can only earn 10 percent interest. How much more money must you deposit today than your sister did if you are to have the same amount at the end of the 10 years.

19. Calculate net income using the following info: Sales = $200; Cost of goods sold = $100; Selling, general and administrative expense = $25; Depreciation expense = $10 (not included in COGS & SG&A expenses); Interest expense = $20; Taxes = $5.

20. In a typical corporation, who normally owns the firm (in all instances except in bankruptcy)?

21. Today, you earn a salary of $50,000. What will be your annual salary 10 years from now if you earn annual raises of 3 percent?