A firm's value:

is maximized when the weighted average cost of capital is minimized

does not depend on the weighted average cost of capital

is maximized when the cost of equity is maximized

is maximized when the weighted average cost of capital is maximized

A project has an initial cost of $50,000 and expected cash flows of $5,000/year for 20 years. What is the payback period of the project?

15 years

20 years

10 years

5 years