Business life cycle and operating cash flow influence corporate debt levels. A mature manufacturer, for instance, tends to have a greater proportion of long-term liabilities than a computer software developer. In relation to this maxim, discuss the following queries. (2.5-page response is required plus apa bib.)
a. Citing examples, discuss why some businesses require greater amounts of long-term debt than other types of businesses.
b. Explain the relationship between life cycle stage and long-term debt.
c. Describe the importance of cash flow projections relative to debt financing.