Joan begins the month with $100 in her checking account. when she receives a pay check for $1,200 on the 5th of the month, she puts $1,080 in her checking account and $120 in her savings account. during the month, she spends $550 on rent and utilities, $30 on household items, $10 on a t-shirt, and $350 on food, leaving a balance of $240 in her checking account. based on the given information, which statement is not true based on the given information, which statement accurately describes the function of joan's money? her expenditures use funds as a medium of exchange but with no role for money as a unit of account. savings is a store of value measured in units of account. depositing money in savings is using it as a medium of exchange. buying goods and services uses money as a store of value and unit of account

Examine the following book-value balance sheet for university products inc. the preferred stock currently sells for $30 per share and pays a dividend of $3 a share. the common stock sells for $16 per share and has a beta of 0.9. there are 2 million common shares outstanding. the market risk premium is 9%, the risk-free rate is 5%, and the firm’s tax rate is 40%. book-value balance sheet (figures in $ millions) assets liabilities and net worth cash and short-term securities $ 2.0 bonds, coupon = 6%, paid annually (maturity = 10 years, current yield to maturity = 8%) $ 5.0 accounts receivable 3.0 preferred stock (par value $15 per share) 3.0 inventories 7.0 common stock (par value $0.20) 0.4 plant and equipment 21.0 additional paid-in stockholders’ equity 13.6 retained earnings 11.0 total $ 33.0 total $ 33.0 a. what is the market debt-to-value ratio of the firm? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.) b. what is university’s wacc? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.)