All 3 questions are related. Please answer each of them with explanations.

Q18. When the price of a stock is twice as risky as the overall market, it is fair to say: a. The beta of the stock is more than 2. b. The beta of the stock is 2. c. The beta of the stock is less than 2. d. The stock is recommended for investment. Q19. The value of free cash flow is usually: a. the same as the value of net income. b. the same as the value of sales c. affected by non-cash expenditures d. less than the value of net income e. not affected by the tax rate Q20. In international finance, as the rate of inflation in the local country increases: a. The value of local currency appreciates. b. The value of local currency remains the same. c. The value of local currency is independent of the rate of inflation. d. The value of local currency depreciates. e. demand for foreign currency decrease