9.What would be the cost of new common stock equity for Tangshan Mining if the firm just paid a dividend of $4.25, the stock price is $55.00, dividends are expected to grow at 8.5 percent indefinitely, and flotation costs are $3.25 per share?

		17.96%
		9.46%
		16.88%
		none of the above

13. Consider the following projects, X and Y where the firm can only choose one. Project X costs $600 and has cash flows of $400 in each of the next 2 years. Project Y also costs $600, and generates cash flows of $500 and $275 for the next 2 years, respectively. Which investment should the firm choose if the cost of capital is 15 percent?

		Project X, since it has a higher NPV than Project Y
		Project Y, since it has a higher NPV than Project X
		neither, since both the projects have negative NPV
		neither, since both the projects have positive NPV

14. ABC has a required payback period of three years for all of its projects. Currently, the firm is analyzing two independent projects. Project A has an expected payback period of 2.8 years and a net present value of $6,800. Project B has an expected payback period of 3.1 years with a net present value of $28,400. Which projects should be accepted based on the payback decision rule?

		Project A only
		Project B only
		Both A and B
		Neither A nor B

19.What is the IRR for the following project if its initial after tax cost is $5,000,000 and it is expected to provide after-tax operating cash inflows of $1,800,000 in year 1, $1,900,000 in year 2, $1,700,000 in year 3 and $1,500,000 in year 4?

		13.57%
		14.77%
		15.57%
		none of the above

17.An investment banker has recommended a $100,000 portfolio containing assets B, D, and F. $20,000 will be invested in asset B, with a beta of 1.5; $50,000 will be invested in asset D, with a beta of 1.7; and $30,000 will be invested in asset F, with a beta of 0.6. The beta of the portfolio is

		1.25
		1.45
		1.33
		unable to be determined from the information provided

Please answer ASAP. THANKS