Answer the following 2 questions:

a.The main goal for a corporation is to maximize value for the shareholders. Briefly explain the purpose of regulation and the concept of ethics.Is it possible for a company to maximize shareholder value and be ethical?

b.Investors find the value of any asset by determining future cash flows and discount them by the required rate of return.Required return has three components.Identify the three components and briefly explain why time value of money concepts are integral in all areas of finance and financial management.