1. Should the estate tax be abolished forever, permitting families of successful, wealthy individuals to retain their wealth without government interference? Why or why not?
2. NPV Project L costs $45,000, its expected cash inflows are $14,000 per year for 8 years, and its WACC is 11%. What is the project's NPV? Round your answer to the nearest cent. Do not round your intermediate calculations.
3. MIRR Project L costs $35,000, its expected cash inflows are $13,000 per year for 8 years, and its WACC is 13%. What is the project's MIRR? Round your answer to two decimal places. Do not round your intermediate calculations.