if you can only answer one, ANSWER NUMBER #2

Part II: Write in True or False. (3 questions x 3 points each - 9 points total). 1. For both expansion and replacement projects, the change in net operating working capital is always subtracted in the net cash flow because new projects mean that more working capital will be required. 2. The following is considered a non-normal cash flow (... + + + + -) 3. If the discount rate is decreased, the discounted payback period will decrease