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3. A firm is considering two types of machines to produce its output. Machine X is more expensive and lasts longer than Machine Y. The after-tax net cash fiows generated by each of the two machines are tabulated below. Assuming that the after-tax required return is 10% p.a. and that the machine that is adopted will be replaced indefinitely, what should the firm do? 4. Do stock prices aiways decline when bad news amrives? 5. Briefly discuss the definitions of MQ,M1, and M2