Norman is a stickler for following the rules because he is sure he will be caught and punished if he doesn't. What is Norman's level of moral development?

Express Airlines is considering the purchase of an aircraft to supplement its current fleet

In estimating the impact of adding this aircraft to the fleet, management has developed the following expected cash flows: Year Cash Flow 1 -$1,000 2 $100,000 3 $100,000 4 $100,000 5 $100,000 6 $100,000 7 -$300,000 If the discount rate is 10%, what is the present value of these estimated flows? (Round to the nearest whole dollar) A) $379,080 B) $224,211 C) $189,760 D) $154,869 E) $199,000

The cost of newly issued common stock is greater than the current cost common equity because of

A) capital gains taxes on retained earnings. B) flotation costs on newly issued common stock. C) capital gains taxes on newly issued common stock. D) all of the above