Discuss how you would expect the financing choices of the following firms to differ and explain the reasons for the differences. (a) An early-stage research and development venture, compared to an established venture that is generating revenue. (b) A venture with revenues that are growing very rapidly and must expand its working capital base to match, compared to a venture with revenues that are growing at the inflation rate. (c) A venture that is highly profitable and growing, compared to a venture that is growing at a similar rate but has not yet achieved profitability. (d) A new venture that is being launched by an entrepreneur who has a significant track record of new venture successes, compared to a venture that is being undertaken by an entrepreneur with no previous new venture experience. (e) A venture that requires large investment in tangible assets, compared to one with assets that are mostly intangible.