A small accounting firm is considering the purchase of a computer software package that would greatly reduce the amount of time needed to prepare tax forms. The software costs $2050 and this expense will be incurred immediately. The firm estimates that it will save $725 of cash flow at the end of each year beginning in one year for 8 consecutive years, and also save $1994 in year 9. What is the payback on the computer package? Years Because payback is typically defined as an integer (e.g. 3 years and not as 3.74 years), place your answer as an integer. Financial analysts have estimated the returns on shares of the Goldday Corporation and the overall market portfolio under two economic states nature as follows. For Goldday the state dependent returns are -0.06 in recession, and 0.08 in an economic boom. For the market the state dependent returns are -0.06 in recession, and 0.18 in boom. The analyst estimates that the probability of a recession is 0.50 while the probability of an economic boom is 0.50. Compute the covariance between Goldday and the market. * State your answer in decimal form, working your analysis using at least four decimal places of accuracy. Financial analysts have estimated the returns on shares of the Goldday Corporation and the overall market portfolio under two economic states nature as follows. For Goldday the state dependent returns are -0.02 in recession, and 0.10 in an economic boom. For the market the state dependent returns are -0.08 in recession, and 0.14 in boom. The analyst estimates that the probability of a recession is 0.50 while the probability of an economic boom is 0.50. Compute the standard deviation of the market. * State your answer in decimal form, working your analysis using at least four decimal places of accuracy.