1:Business opportunities, because they exist in real time, often have a relatively narrow window of opportunity to become a successful business venture. However being the first to market does not guarantee success. True False

2:Non-financial alternatives available to managers as the venture progresses through its lifecycle are known as real options. True False

3:Last year a firm had sales of $200,000. Its cost of goods sold was $90,000, and administrative and marketing expenses were $25,000 each. Depreciation expense was $10,000, while interest expense was $15,000. If the tax rate is 30%, what was the firms NOPAT last year? $22,500 $35,000 $42,000 $52,500 $59,500