Ajax Corporation is planning a 10 year project that will have an initial cost of $500,000. During the first 2 years, there will be cash outflows of $40,000. Years 3-6 will see cash inflows of $120,000. Years 7-10 will see cash inflows of $200,000. If the company's required rate of return is 9%, determine the NPV of the project.

Slack variables are only associated with maximization problems

Indicate whether this statement is true or false.

Howard Ferguson is a lawyer who has acted for Joe Gage over the years. Joe wants to retire, sell his house in Canada, and move to Florida. Howard knows the house would sell for about $200,000. He offers Joe $150,000 for it

Joe agrees to this price, but later finds out the house's real value. Which of the following is TRUE? A) There is nothing Joe can do to get the deal because he made a contract. B) Howard was Joe's lawyer and the contract will automatically be set aside. C) The onus will be on Howard to show that the deal was to Joe's benefit. D) Howard stands in a fiduciary relationship to Joe. E) Both C and D