A treasurer is evaluating a project that will cost $1,000 but will return cash flows of $225, $225, $300, $750, and $750 in years 1 through 5, respectively. The company's interest rate on its debt is 10% and its marginal cost of capital is 15%. What is the Net Present Value (NPV) of this project?

A major publicly owned U.S. airline announces that it can no longer meet its pension obligations. Which organization will assume control of the airline's pension plan?

A company wants to implement more control over its cash management system. Which aspect of the system is the most susceptible to external fraud?

Examples of fixed assets include which of the following?
I) Inventory
II) Treasury bills
III) Forklift
IV) Goodwill

XYZ Holdco has multiple credit facilities with a bank under a borrowing agreement that includes certain covenants. A fire has destroyed the manufacturing plant owned by ABC, one of the XYZ subsidiaries that is part of the credit facilities. All loans, including the ABC loan, are up to date and being repaid as required. However, after the fire, the bank notified XYZ that it was in default. Which one of the following covenants is MOST LIKELY a term of the borrowing agreement?