8. A loss incurred by a corporation A. Must be carried forward unless the company has had 2 loss years in a row. B. Can be carried back 2 years, then carried forward up to 20 years following the loss. C. Can be carried back 5 years and forward 3 years. D. Cannot be used to reduce taxes in other years except with special permission from the IRS. E. Can be carried back 3 years or forward 10 years, whichever is more advantageous to them.

9. A measure of "risk per unit of expected return." is A. standard deviation 3 B. coefficient of variation C. correlation coefficient D. beta E. None of the above

10. A project costing $20,000 generates cash inflows of $9,000 annually for the first three years, followed by cash outflows of $1,000 annually for two years. At most, this project has ______ different IRR(s). Hint: This is a multiple IRR question. A. one B. two C. three D. five E. None of the above

12. As the cost of capital is increased, the NPV of a specific project will: A. increase. B. decrease. C. remain constant. D. decrease to zero, then remain constant E. cannot be determined