Hartzell inc. had the following data for 2018, in millions: net income = $600; after-tax operating income (ebit (1-t)] = $700; and total assets = $2,000. information for 2019 is as follows: net income = $825; after-tax operating income (ebit (1-t)] = $825; and total assets = $2,500. assume the firm had no excess cash. how much free cash flow di the firm generate during 2019? a. $325 b. $367 c. $257 d. $286 e. $397

Consider a treasury bill with a rate of return of 5% and the following risky securities: security a: e(r) = .15; variance = .0400 security b: e(r) = .10; variance = .0225 security c: e(r) = .12; variance = .1000 security d: e(r) = .13; variance = .0625 the investor must develop a complete portfolio by combining the risk-free asset with one of the securities mentioned above. the security the investor should choose as part of her complete portfolio to achieve the best cal would be a. security a b. security b c. security c d. security d