$8)$ Firms with higher real options value, or$,$ alternatively, more

growth opportunities typically display

the following characteristics of corporate financial policies

relative to other similar firms... $($here$,$

clearly circle the THREE that most directly apply$)$

i$)$ Higher cash holdings

ii$)$ Lower cash holdings

iii$)$ Pay more dividends

iv$)$ Pay fewer dividends

v$)$ Carry a lower debt$-$to$-$equity ratio

vi$)$ Carry a larger debt$-$to$-$equity ratio