Your partner unexpectedly dies. Your partnership agreement has a buy-sell clause with a "shotgun" provision. Which of the following is TRUE?
A) The value of your partner's shares will be appraised by an expert.
B) The value of your partner's shares will be determined by arbitration.
C) The value of your partner's shares will be determined by the average earnings of the company over a recent period.
D) The shotgun clause is ineffective because of the death of your partner.
E) The person who now owns your partner's shares must make you an offer for your shares. If you choose, you can instead buy his shares at that price.
E
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Article 9 of the UCC does not cover a security interest in the following:
A) Equipment. B) Patents and copyrights. C) Land. D) Inventory.
A project costs $1,000 today and is expected to produce cash inflows of $800 at the end of each of the next two years. If the firm's cost of capital is 10%, what is the modified internal rate of return? Round answer to the nearest whole percent
A) 30% B) 23% C) 13% D) 21% E) 33%