Share buy-backs can be a good value-add strategy itf Select one: O a. The company doesn't have suitable projects in which to invest O b. Investors are content with current returns O c. The company is fooking to increase the dividend ratio O d. It can artificially increase the earnings per share Assuming a tax rate of 21%, how will annual depreciation of $400,000 effect a project relevant cash flows? Select one O a. Decrease cash flows by $400,000 O b. Increase cash flows by $400,000 c. Reduce cash flows by $84,000 O d. Increase cash flows by $84,000 O e. Have no effect since depreciation is not a cash expense Although debt is usually the cheapest component of capital, it cannot be used to excess because 8:59 PM 6/13/2018