25. Mary purchased 1,000 shares of New Way stock on Wednesday, July 7. John purchased 500 shares of New Way stock on Thursday, July 8. New Way declared a dividend on June 20 to shareholders of record on Thursday, July 15 and payable on August 1. Which one of the following statements concerning the dividend paid on August 1 is correct given this information?

Neither Mary nor John is entitled to the dividend.

John is entitled to the dividend but Mary is not.

Mary is entitled to the dividend but John is not.

Both Mary and John are entitled to the dividend.

Both John and Mary are entitled to one-half of the dividend amount.

34. Which of the following statements related to the internal rate of return (IRR) is/are not correct?

I. The IRR method of analysis does not work well for projects with non-conventional cash flows. II. The IRR that causes the net present value of the differences between two project's cash flows to equal zero is called the discount rate. III. The IRR tends to be used more than net present value simply because it does not consider the time value of money. IV. Both the timing and the amount of a project's cash flows do not affect the value of the project's IRR.

II, III and IV only

I, II, III and IV

III and IV only

I, II, and III only

I, III and IV only