44. Based on its target capital structure, Tiger Inc. estimates a WACC of 12% for its average-risk projects, a WACC of 10% for its below-average-risk projects, and a WACC of 14% for its above-average-risk projects. Tiger Inc. is choosing between three mutually exclusive projects. Which of the following projects (A, B, and C) should the company accept? A. Project A, which is of average risk and has a return of 12%. B. Project B, which is of below-average risk and has a return of 11%. C. Project C, which is of above-average risk and has a return of 13%. D. None of the projects should be accepted. E. All of the projects should be accepted

48. Which of the following is the best measure of the risk of a security when held in a diversified portfolio? A. Variance B. Beta C. Standard Deviation D. Correlation Coefficient E. Diversifiable Risk

49. A project requires an initial investment of $1,200. It produces cash flows of $400, $425, $450, and $475 at the end of years 1, 2, 3, and 4. The cost of capital is 14.25%. What is the NPV of the project? A. $56.80 B. $56.24 C. $61.86 D. $64.67 E. $70.29