To develop an explicit financial plan, managers must establish certain basic elements of the firm's financial policy, which of the following elements is related to the amount of borrowing the firm will use to finance its invesments in real assets (capital structure policy). Multiple Choice -The firm's needed investment in new assets -The degree of financial leverage the firm chooses to employ - The amount of cash the firm thinks is necessary and appropriate to pay shareholders -The amount of liquidity and working capital the firm needs on an ongoing basis