For real numbers X and Y; X/Y =

	1.	Y/X
	2.	-X/-Y
	3.	-X/y

Assume a share has price at t time (Pt) and at t-1 (Pt-1), the rate of return of this share is

	1.	(Pt - Pt-1) / Pt-1
	2.	[Pt / Pt-1] - 1
	3.	2 and 3

Assume you have two projects "X" and "Y". Net present value of "X: and "Y" is $10 and $12, if they are independent what project you should choose? Assume you have to choose only one project and no other information is given.

	1.	X
	2.	Y
	3.	None