两个投资项目(项目A和项目B)的相关数据如下表所示，且两项目的必要回报率均为14%。试根据这些条件解答问题。

项目A和项目B的相关数据
	项目A	项目B
初始成本 年限 现金流	2800万美元 2 1800万美元/年	5500万美元 3 2500万美元/年

A company is investigating the purchase of a banker’s acceptance (BA). The $1000000 face value BA has 150 days to maturity and is quoted at 4.05 percent on a discount-basis yield. If the company’s marginal tax rate is 25 percent, then the money market yield on the BA is closest to:

单项选择题A company has just purchased a banker’s acceptance for $37500. The acceptance will mature in 90 days for $40000. The bank discount yield (BDY) and the bond equivalent yield for this security are closest to: bank discount yield BDY) bond equivalent yield ① 25.0% 22. 6% ② 25.0% 26.7% ③ 25.3% 26.7%

单项选择题An increase in a company’s cash conversion cycle and a decrease in the company’s operating cycle could result from: cash conversion cycle(increase) operating cycle (decrease) ① decreased receivables turnover decreased in days of inventory ② decreased receivables turnover increased payables turnover ③ increased receivables turnover increased payables turnover