Your supervisor makes you remove all of the artificial nesting sites because they are preventing people from rafting on the river. So you decide to save the population of pike minnows by destroying trout nesting sites instead. Assume that 500 natural nesting sites exist for pike minnow and 500 exist for trout.

At what number of trout sites will the pike minnow population start to grow? Assume the competitive effect of trout on pike minnows equals 1.25, the competitive effect of pike minnows on trout equals 0, the per capita growth rate of pike minnows equals 0.25, and the per capita growth rate of trout equals 0.5.

A. 450B. 400C. 350D. 300E. 250

Examine the following book-value balance sheet for university products inc. the preferred stock currently sells for $30 per share and pays a dividend of $3 a share. the common stock sells for $16 per share and has a beta of 0.9. there are 2 million common shares outstanding. the market risk premium is 9%, the risk-free rate is 5%, and the firm’s tax rate is 40%. book-value balance sheet (figures in $ millions) assets liabilities and net worth cash and short-term securities $ 2.0 bonds, coupon = 6%, paid annually (maturity = 10 years, current yield to maturity = 8%) $ 5.0 accounts receivable 3.0 preferred stock (par value $15 per share) 3.0 inventories 7.0 common stock (par value $0.20) 0.4 plant and equipment 21.0 additional paid-in stockholders’ equity 13.6 retained earnings 11.0 total $ 33.0 total $ 33.0 a. what is the market debt-to-value ratio of the firm? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.) b. what is university’s wacc? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.)