1. Compare and contrast the following three perspectives on the value-relevance of a firm's dividend policy: the lefist perspective, the middle of the road perspective, and the rightist perspective. Please give me a precise discussion about the three perspectives.
2. Assuming there are no transaction costs and supposing that £1 = $1.563740 in New York, $1 = € 0.796178 in Paris, and €1 = £0.803199 in London, calculate the arbitrage opportunities that exist based on these rates
3. What is the return on invested capital to an investor who purchased a futures contract at a price of 297 and sells the contract for 308? The contract is on 5,000 units requires a 3% margin deposit and is priced in cents per unit.