1. Intel Corporation reported the following in its 2016 financial statements (in millions): (in millions) December 31, 2016 December 31, 2015 Total assets $113,327 $101,459 Revenues $59,387 $55,355 Research and development expense $12,740 $12,128 Net income $10,316 $11,420 What is the common-size amount for Intel Corporation’s research and development expense for 2016?

A) 17.4% B) 21.5% C) 11.2% D) 78.5%

2. A yen futures contract settles 272 day from today. If spot yen is 97, the one year yen interest rate is 1% and the one year US interest rate is 3%, estimate the futures price you should find on the exchange. (assume a 365 day year). Write all the calculations needed to get the answer.

a) 97

b) 95.59

c) 0.01462

d) 0.01468