Question 59 (0.5 points) When you construct a firm's income statement, do you deduct interest payments first or pay taxes first? Pay taxes first Deduct interest payments first Question 60 (0.5 points) An investment project has only the following cash flows: initial cash outflow is $2,000,000; cashflow from year 1 through year 8 is $400,000 each (i.e. cash inflow in year 1 400,000, cash inflow in year 2 is 400,000, etc). Using IRR, should the project be accepted if the required rate of return is 12%? What if the required rate of return is 10%? Yes; No Yes; Yes No: Yes O No; No Question 39 (0.5 points) Which of the following statements is/are true? I. Raising capital is one of the important roles that financial markets play II. Providing liquidity is one of the important roles that financial markets play OI only Both I and II II only Question 40 (0.5 points) You bought 100 shares of Haslett Helicopters, Inc., in January 2016 for $67.26 per share (assume no commissions, so you spent a total of $6726). The company pays dividends annually, and in 2016 it paid a dividend of 62 cents per share; in 2017 the dividend was 74 cents per share; it 2018 it suspended its dividend indefinitely (i.e., no dividend was paid in 2018 or 2019). You sold the stock in January 2019 at $52.78 (again assume no commissions). What was your TOTAL return on the stock over the period of January 2016 through January 2019? -2.5% -24.9% +0.5% -21.5% -19.5%