QUESTION 32 Consider a cash flow of $1.000.000 in 10 years at a 4% rate of discount annually compounded in order to have the same present value, but semiannually compounded at the same rate and futurity, the cash flow must be higher lower equal QUESTION 33 A company's prohts decreased this past quarter. Yet it kept is dividend payment the same as last quarter. What happened to its payout ratio? I did not change TOSO foll