1. An independent project initially cost $25,000 and will return cash inflows of $9,000 for three years. In the fourth year, you will need to upgrade the equipment at a net cost (outflow) of $5,000, In the fifth year, the project will generate an additional cash inflow of $9,000. If you knew the firm's discount rate, which of the following methods would determine whether to clearly accept or reject the independent project?

A. NPV and PI

b. NPV, IRR, and Pl

c. NPV. IRR, and Payback Period

D. NPV, Pl, and Payback Period

E. NPV, IRR. Pl. and Payback Period

2. Which of the following financially benefit due to High Frequency Trading? WHY?

a. Mutual funds

b. Foreign investors

c. The Federal Reserve

d. NYSE