ATBP Inc. has an after-tax profit margin (i.e., EAT/Sales) of 5% and a dividend payout ratio of 60%. Last year's sales were $900 million and total assets were $450 million. None of the liabilities vary directly with sales (i.e., there are no spontaneous liabilities), but assets and costs do. If the sales growth rate for ATBP is 20%, how much external financing is needed? At an APR of 14 percent and annual compounding, it will take more than or equal to years for an investor to triple their money. years, but less than 8: 9 If the pure expectations theory of the term structure of interest rates is correct, and we observe an upward sloping yield curve (i.e., short-term rates are currently less than long-term rates), which of the following is a true statement? Investors expect short-term rates to be constant over time. O Investors expect short-term rates to increase in the future. O Investors expect short-term rates to decrease in the future. O It is impossible to say unless we know whether investors require a positive or negative maturity risk premium. You are scheduled to receive the following annual cash flows: (1.e., you get $0 today, you get $200 one year from today, you get $100 two years from today, etc.) Year Cash flow o $0 (today) 1 $200 $100 WN $300 4 $150 Assuming a 14 percent annual discount rate and annual compounding, the total value of these four cash flows today is greater than but less than or equal to Select the range that contains the correct solution