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1. What company (example such as Apple or Wal-mart), give a specific example of a real option that the company adopted in the past or might use in the future. If in the past, was it successful? If in the future, what are the risks involved?

2. A firm's dividends have grown over the last several years. 10 years ago the firm paid a dividend of $2. Yesterday it paid a dividend of $6. What was the average annual growth rate of dividends for this firm?

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