1. Suppose you will receive $200 today, $200 in exactly one year and another $200 in 2 years and the interest is 8%. What is the value of these cash flows in exactly one year? a. $641.29 b. $728.2 c. $556.66 d. None of the choices given e. $515.42.
2. Which of the following is a true statement regarding partnerships?
a. Limited partners are responsible for all debts of the partnership.
b. Limited partners generally manage the partnership.
c. The income of the general partner is taxed at the corporate income tax rate.
d. Partnerships are never terminated and they have infinite life.
e. None of the choices given.