Mike Polanski is 30 years of age and his salary next year will be $40,000. Mike forecasts that his salary will increase at a steady rate of 5% per annum until his retirement at age 60. a. If the discount rate is 8%, what is the PV of these future salary payments? b. If Mike saves 5% of his salary each year and invests these savings at an interest rate of 8%, how much will he have saved by age 60? c. If Mike plans to spend these savings in even amounts over the subsequent 20 years, how much can he spend each yea

Afirm wants to strengthen its financial position. which of the following actions would increase its current ratio? a. reduce the company's days' sales outstanding to the industry average and use the resulting cash savings to purchase plant and equipment.b. use cash to repurchase some of the company's own stock.c. borrow using short-term debt and use the proceeds to repay debt that has a maturity of more than one year.d. issue new stock, then use some of the proceeds to purchase additional inventory and hold the remainder as cash.e. use cash to increase inventory holdings.