1. When you were ten years old, your grandparents put $100,000 into a bank account earning 6.5%. You can’t withdraw the money until the balance has doubled. How long will you have to leave the money in the account (to the nearest whole year)?
2. ABC has net sales of $982,500 and costs of $789,100. The depreciation expense is $124,700 and the interest paid is $23,100. What is the amount of the firm’s operating cash flow if the tax rate is 34 percent?