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27) Net working capital is defined as: 27) A) current assets minus current liabilities. B) total assets minus total liabilities. C) the depreciated book value of a firm's fixed assets. D) available cash minus current liabilities. E) the value of a firm's current assets. 28) 28) Dixie's Markets offers credit to its customers and charges interest of 1.2 percent per month. What is the effective annual rate? A) 14.61 percent B) 15.10 percent C) 15.73 percent D) 15.51 percent E) 15.39 percent 29) 29) There is sometimes a ranking problem among NPV and IRR when selecting among mutually exclusive investments. This ranking problem only occurs when A) the cost of capital is to the left of the crossover point. B) the NPV is greater than the crossover point. C) the cost of capital is to the right of the crossover point. D) the NPV is less than the crossover point. 30) What is the payback period for a projeet with the following cash flows? Year Cash Flow 0 -$75,000 15,000 23,000 35,000 25,000 A) 2.89 years B) 2.56 years C) 3.08 ycars D) 3.24 years E) Never C-6