Question 23 The cash flows used in capital budgeting calculations are based on: 1 pts forecasts of retained earnings available for financing projects forecasts of net income. forecasts of future cash revenues, expenses, and investment outlays. historical estimates Question 24 1p The beta of Ricci Co.'s stock is 3.2, whereas the risk-free rate of return is 9 percent. If the expected return on the market is 18 percent, then what is the expected return on Ricci Co.? 57.60% 28.80% 48.60% 37.80%