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Ques. 7) For the year ending June 30, 2008, the Austin Corporation has current assets of $ 275,000 and total assets of $ 900,000. It also has current liabilities of $ 150,000, equity of $ 200,000, and retained earnings of $ 100,000. The marginal tax rate for the firm is 30%. How much long-term debt does the firm have?,a) $ 250,000,b) $ 350,000,c) $ 315,000 ,d) $ 450,000,Ques. 26) Your uncle promises to give you $550 per quarter for the next five years starting today. How much is his promise worth right now if the interest rate is 8% compounded quarterly?,a. $9,173.14,b. $13,363.57,c. $13,630.84,d. $8,993.27,,Ques. 27) Your bank account pays a 6% nominal rate of interest. The interest is compounded quarterly. Which of the following statements is CORRECT?,a. The periodic rate of interest is 1.5% and the effective rate of interest is 3%.,b. The periodic rate of interest is 6% and the effective rate of interest is greater than 6%.,c. The periodic rate of interest is 1.5% and the effective rate of interest is greater than 6%.,d. The periodic rate of interest is 3% and the effective rate of interest is 6%.,e. The periodic rate of interest is 6% and the effective rate of interest is also 6%.,

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