Flintstone Mining Inc has a weighted average cost of capital of 12%. Flintstone has 40% debt in its capital structure (debt-to-equity is 0.67 ) and the yield on Flintstone bonds is 6%. The corporate tax rate is 40%

An implied contract exists when the parties state the terms and show their intentions using words.

a. true b. false

An owner has been using a parcel of land for heavy industry since 1973. Subsequently, the property is zoned for commercial use. The owner's continued industrial use of the property is a/an

a. violation of the existing zoning b. deviation from the master plan c. example of zoning variance d. an illegal non-conforming use