Which of the following is most likely considered a weakness of present value models?
a. present value models cannot be used for companies that do not pay dividends
b. small changes in model assumptions and inputs can result in large changes in the computed intrinsic value of the security
c. the value of the security depends on the investor’s holding period; thus comparing valuations of different companies for different investors is difficult

Suppose a country's productivity last year was 84. if this country's productivity growth rate of 5 percent is to be maintained, this means that this year's productivity will have to be:

Almeda products, inc., uses a job-order costing system. the company's inventory balances on april 1, the start of its fiscal year, were as follows:

On january 1, 2017, pharoah company issued 10-year, $2,020,000 face value, 6% bonds, at par. each $1,000 bond is convertible into 16 shares of pharoah common stock. pharoah’s net income in 2017 was $317,000, and its tax rate was 40%. the company had 97,000 shares of common stock outstanding throughout 2017. none of the bonds were converted in 2017. (a) compute diluted earnings per share for 2017. (round answer to 2 decimal places, e. g. $2.55.) diluted earnings per share