A$.$ Explain the following goals of a firm.

i$.$ Profit maximisation

ii$.$ Shareholder wealth maximization

iii. Maximizing sales and market share

B$.$ Provide $2$ advantages and disadvantages of operating these forms businesses $(1)$ the sole proprietorship; $(2)$ the partnership; and $(3)$ the corporation.

C$.$ You are running a hot Internet company. Analysts predict that its earnings will grow at $30\%$ per year for the next five years. After that, as competition increases, earnings growth is expected to slow to $2\%$ per year and continue at that level forever. Your company has just announced earnings of $$1,000,000.$ What is the present value of all future earnings if the interest rate is $8\%?($Hint: first five years should be treated as an annuity and subsequent years should be treated as a perpetuity and also assume all cash flows occur at the end of the year.$)$