can someone please answer these for me

22. What is "Asset Substitution'?

A. Investing in a current asset instead of a long-term asset

B. Investing in a foreign country rather than in the USA

C. Investing in a risky asset rather than in a safe asset as

promised

D. Investing in futures contracts rather than forward contracts

E. None of the above

23. What is the "Signaling Theory?

A. Management will avoid using debt if they are confident about

the company

B. Management will pay extra taxes to the IRS just to show their

liquidity

C. Management will select its leverage level to show they are

financially strong enough to handle high debt

D. Management will avoid the use of debt tax shields

E. None of the above

24. How do bankruptcy costs affect the capital structure decision?

A. Induce firms to have lower leverage

B. Induce firms to have higher leverage

C. No effect on leverage

D. Induce firms to issue less preferred stock

E. None of the above

25. Qualkonk Corporation paid dividends of $2 per share and had earnings per share of $8 in 2016. It has debt tax shields of $5 per share. What is Qualkonk's dividend payout

ratio?

A.

B. 0.4

C. 0.625

D. 0.25

E. None of the above

26. Megabub Corporation has 4 million shares outstanding and earned $48 million in 2016. It paid a total of $8 million in dividends during the year. What is Megabub's dividend payout ratio? Round your answer to the second decimal place

A. 0.17

B. 0.50

C. 2.00

D. 0.08

E. None of the above

27. Larchmount Manufacturing, Inc. had a dividend payout ratio of 40% in 2014. It earned $20 million that year and had 5 million shares outstanding. What is Larchmount's dividend payment per share for that year?

A. 40%

B. $1.60

C. $4

D. $0.25

E. None of the above