Could some one please confirm my answers are correct? and tell me what i did wrong if they aren't corect?

thanks.

5 Questions but they are easy and already worked out.

Exam 1: Extra Credit Problems 1) Question 3. In any partnership, every partner has same rights, privileges, and liability exposure as every other partner. How to obtain the correct answer: The correct answer is false. This is because some partnerships have the rights, privileges, and liability exposure. For example, the Limited partnership limits partner liability to just the amount of investment that they put in while a general partnership has equally shared exposure. Why I answered incorrectly: I had only been thinking about the General Partnership definition and had forgotten about that difference with a limited partnership. 2) Question 19. Robert's Inc recently reported the following information: Net Income = $1,200,000 Tax rate = 40% Interest Expense = $400,000 Total Invested Operating Capital Employed = $18,000,000 After-tax cost of capital = 10% What is the company's EVA? Correct Answer: $0.6 Million How to obtain the correct answer: EVA = (NOPAT: Net Operating Profit After Tax) - ( ACC: Annual Dollar Cost of Capital) \" = $1,200,000 = X (1-.40) \" = \" = X (0.60) \" = Divide both sides by 0.60 \" = $2,000,000 = EBIT - Interest: EBIT= $2,000,000 + $400,000=$2,400,000 =EBIT (1-t) = $2,400,000 (1-0.40) = $1,440,000 Million = Cost of Capital = $18,000,000 Million (0.10) = $1,800,000 Million EVA = $2.4 Million (-) $1.8 Million = $0.6 Million. Why I answered incorrectly: ... ... because while solving for EBIT (1-t) I used the value for NET INCOME instead of properly solving for NOPAT. I was confused on all of the tiny steps needed in order to finish solving for EBIT which would have in turn led me to correctly finish solving for EVA. 3) Question 21: CTT has 39.55 Millions share of common stock outstanding that sell for $12.03 a share. If the company $4.380 Millions of company equity on its balance, then what is the company's Market Value Added (MVA)? The correct answer is: $471.4065 Million How to obtain the correct answer: MVA = Total market value-book value of company equity. Exam 1: Extra Credit Problems \" \" = 39.55 ($12.03) = $475.7865- $4.380 = $471.4065 Why I answered incorrectly: ... I used the wrong formula to calculate the MVA and I mentally mixed up the values. I mixed up book value of company equity with book value per share or the Per Share value. 4) Question 24: One-year Treasury securities yield 2%, 2-year Treasury securities yield 2.2%, and three-year Treasury securities yield 3%. Assume that the expectation theory holds. What does the market expect will be the yield on a 1year Treasury Securities two years from now? The correct answer is: 2.23% How to obtain the correct answer: X2 = the yield on a one-year security from now. = (1+0.03)3= (1+0.022)2 (1+x)1 = (1.092727) = (1.04884) (1+x)1 = divide both sides by 1.04884 = 1.046188 = (1+x)1 = 1.046188 = (1+x) = 1.02283 = 1+x = 0.02283= x X= 2.23% Why I answered incorrectly: I used the wrong power when calculating the 1-year security. 5) Question 25: Suppose 1-year T-bills currently yield 7.00% and the future inflation is expected to be constant at 3.20% per year. What is the real risk-free rate of return, r*? The cross-product term should be considered, i.e., if averaging is required, use the geometric average. The correct answer is: 3.88% How to obtain the correct answer: (1+0.07) = (1+X) (1+0.032) X = 3.88% Why I answered incorrectly: I didn't calculate using the geometric average