Please answer the questions in details with a clear answer. If you dont know the answer please DO NOT ANSWER. Thank you!

1. What is the ultimate goal of financial management / corporate finance? List and briefly describe the three basic areas addressed by a financial manager 2. What is Miller-Modigliani theorem? illustrate the two propositions. Do you think it would apply to the real world? Why or Why not? 3. The IRR rule is said to be a special case of the NPV rule. Draw the graph and explain why this is so and why IRR has some limitations NPV does not indicate the discount rate, PV, IRR, NPV in your graph). 4. What is agency problem? Give two good examples of corporate governance mechanisms. Briefly argue why they are good. 5. When a company faces a tax increase policy, please discuss the potential consequence on (1) net income, (2) debt borrowing, (3) dividend payout