All else equal, the net present value using real cash flows and a real rate must __________ the net present value using nominal cash flows and a nominal rate.

		be less than
		equal
		be greater than or less than
		be greater than

When evaluating projects with different lives (time horizons), financial managers should use:

		IRR
		Payback period
		NPV
		Equivalent annual cost

When setting the bid price, financial manager should determine the price that results in:

		Taxes equal to 0
		IRR equal to 0
		Net income equal to 0
		NPV equal to 0