Which of the following statements is most correct? O a. A 5-year $100 annuity due will have a higher present value than a 5-year $100 ordinary annuity. O b. A 15-year mortgage will have larger monthly payments than a 30-year mortgage of the same amount and same interest rate. O c. If an investment pays 10 percent interest compounded annually, its effective annual rate will also be 10 percent. d. Statements a and care correct. e. All of the statements above are correct. The overriding principal of working capital management is: a. To minimize the Cash Conversion Cycle O b. To maximize the Cash Conversion Cycle O c. To minimize the Cash Conversion Cycle while not endangering legitimate customer sales O d. To maximize the level of current assets e. To minimize the level of current assets An Aggressive Working Capital Asset Financing Policy: a. Uses short term financing to finance all of its temporary working capital, but also its permanent working capital and some of its fixed assets O b. Uses long term and permanent financing to finance all of its temporary working capital, but also its permanent working capital and fixed assets c. Uses short term financing to finance its temporary working capital and long term and permanent financing to finance its permanent working capital and fixed assets d. Uses whatever financing the firm can obtain to finance its temporary working capital, permanent working capital and fixed assets e. None of the above describe an Aggressive Working Capital Asset Financing Policy A Conservative Working Capital Asset Financing Policy: a. Uses short term financing to finance all of its temporary working capital, but also its permanent working capital and some of its fixed assets b. Uses long term and permanent financing to finance all of its temporary working capital, but also its permanent working capital and fixed assets O c. Uses short term financing to finance its temporary working capital and long term and permanent financing to finance its permanent working capital and fixed assets d. Uses whatever financing the firm can obtain to finance its temporary working capital, permanent working capital and fixed assets e. None of the above describe a Conservative Working Capital Asset Financing Policy