Question 3 (9 marks) Company A Enterprise Value $ 70 billion Cash $ 500mil Return on Capital Cost of Capital Trades in US Company B $ 70 billion $ 500mil 5% 10% US 5% Company C $ 70 billion $ 500 mil 34% 10% Argentina 5% In which of these companies is cash most likely to be a neutral asset, a wasting asset, and a potential value creator? Briefly Explain. (9 marks)