7. Among following cash flows, which one (s) is (are) not relevant to the calculus of NPV?

1. The salvage value of the equipment.
2. The tax savings related to the depreciation.
3. The variations of supplier account.
4. The dividends paid to the shareholders.

1. 2 and 4 only
2. 4 only
3. 2 and 3 only.
4. 1 and 2 only.

8. Your banker offers a nominal interest rate of 14% compound semi-annually. The effective-quarterly rate will be:

1. 3.2343%
2. 3.1115%
3. 3.3344%
4. 3.4408%

9. Your banker offers a nominal interest rate of 18% compound monthly. The effective semi-annual rate will be:

a. 9.34433%

b. 9.44453%

c. 9.56746%

d. 9.23545%