1. Williams, Inc., has an ROA of 6.3 percent and a payout ratio of 47 percent. What is its internal growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Internal growth rate
2. Your Cash Flows. How does each element of financial planning affect your cash flows?
3. Suppose that S(0) =A(0) = 100 (Both S(0) and A(0) is 100) and A(T) =120. Suppose you can enter a forward contract to buy or sell the risky security at time T with F = 100. Describe an arbitrage opportunity and calculate the amount V(T) ( your investment's worth at time T.)