A firm shows its working capital accounts as of the end of 2019 and 2020. Revenue for 2019 and 2020 was $8,200,000 and $7,700,000, respectively. Cost of goods sold for 2019 and 2020 was $3,950,000 and $4,500,000, respectively. Accounts receivable was $635,000 and $525,000, respectively. Assume in general 82% of sales are made on credit, was days sales outstanding in accounts receivable (DSO) reduced in 2020? Yes, it reduced by about 3 days. Yes, it reduced by about 4 days. Cannot be determined with this information No, it increased by about 3 days. No, it increased by about 4 days. Question 4 4pts You just won a $7.5 million lottery to be received in ten annual payments of $750.000. What will happen to the present value of your winnings if the level of interest rates increases over the next 10 years? It will be worth less since CFs are known and discount rate rises so PV falls The value does not change; all the payments are equal It will be worth more Cannot be determined with this information