1. Edwards has invested in a fund that will provide him a cash flow of $35,700 for the next 15 years. If his opportunity cost is 9.5 percent, what is the present value of this cash flow stream?
2. What is the operating cash flow for a firm with $500,000 profit before tax, $100,000 depreciation expense, and a 35% marginal tax rate?
3. How funding and expenses differ from auxiliary and capital budgets? Include the prupose of auxiliary units and capital projects, fund sources, forecasting, services and overhead, and reserves.