QUESTION 29 If two securities promise the same cash flow at a specific future date, the one with the higher price must have a) a higher b) a lower rate of discount c) the same QUESTION 30 Company X produced a 20% ROE in 2019. Company Y made the same amount of profits as X, but had significantly more Owners' Equity. Compared to that of X, Y's ROE was: a) equal b) higher c) lower QUESTION 31 the percentage change in revenue When a firm with fixed costs achieves a percentage increase in revenue due to more sales, the resulting percentage change in profit is typically a) greater than b) less than c) equal to QUESTION 32 A ten-year annuity pays $100 each year. The market discounts it at a yield of SX Which of the following changes will cause its present value to increase? Choose two, 2 points each. a) An increase in its maturity to eleven years b) An increase in yield to An increase in cash flow to 5110