1. Briefly explain what private action is prohibited regarding "takings" and give one example.
2. Please describe the difference between the substanceand formof financial statements. Give an example of each.
3. XYZ Inc. is considering the purchase of a set of new equipment that will have 4 year life and a total NPV cost of $125,000. Assume a cost of capital of 10%. What is the equivalent annual cost of the equipment (EAC)?