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11. The IRR decision rule is unreliable when comparing mutually exclusive projects. a. True b. False 12. Return on Assets (ROA) is an example of a profitability ratio. a. True b. False 13. For a given time period, the higher the interest rate, the smaller the future value. a. True b. False 14. Stockholders' Equity = Assets + Liabilities. a. True b. False 15. A disadvantage of the Average Accounting Return (AAR) rule is the lack of consideration of time value of money. a. True b. False Chapters 2 & 3 Review Problems Nevada Mining currently has taxable income of $97,800. How much additional tax will the firm owe if taxable income increases by $21,000? Taxable Income $0 - $50,000 $50,001 - $75,000 $75,001 - $100,000 $100,001 - $335,000 Tax Rate 15% 25% 34% 39%