Only correct answers please.

If the national debt is $55 million and this year's deficit is $5 million, what would the new national debt be? a) $50 million b) $275 million c) $60 million d) $11 million

Bowmax is a growing company in the hotel industry that has recently been listed on the stock market. When the company was privately owned, the directors could meet informally with the shareholders in order to establish their personal preferences for the company's financial strategy. Now there are many more shareholders and the shares trade freely on the open market. The company's latest statement of financial position has been summarised as follows: Bowmax Summarised statement of financial position as at 31 August 2017 Sm Property at valuation 180 Plant and equipment at cost less depreciation 17 Current assets 14 211 Share capital 20 Revaluation reserve Retained earnings 146 Current liabilities 211 The profit for the year was $32m. Bowmax's directors are debating the advantages and disadvantages of paying a significant large dividend, perhaps $25m. Other quoted companies in the industry tend to pay out a substantial proportion of their earnings. A dividend of that size would require Bowmax to borrow cash. The board is considering issuing $30m of debentures. (i) Discuss the relevance of similar companies' dividend policies in informing Bowmax's directors. [12] (ii) Discuss the advantages to Bowmax of making the proposed debenture issue. [8] [Total 20](i) Discuss the suitability of the crude death rate, the standardised mortality rate and the standardised mortality ratio for comparing: (a) the mortality, at different times, of the population of a given country (b) the mortality, at a certain time, of two different occupational groups in the same population [6] (ii) The following table gives a summary of mortality for one of the occupational groups and for the country as a whole. Occupation A Whole country Age group Exposed to Deaths Exposed to Deaths risk risk 20 -34 15,000 52 960.000 3,100 35 -49 12,000 74 1.400,000 7,500 50-64 10,000 109 740.000 7,100 Total 37,000 235 3,100,000 17,700 Calculate the crude death rate, the standardised mortality rate and the standardised mortality ratio for Occupation A. [4] [Total 10]