Problem 6: Miscellaneous topics including debt prospectuses, IPO activity and underpricing, risk-return relation, capital budgeting, and capital structure (22 points) b) The attached figure (IPOs-France.pdf) shows the average first-day return and the number of IPOs in France for each year from 1983 to 2024. The average first-day return is indicated by the green line (right y-axis), while the number of IPOs is displayed by the red bars (left y-axis). How did the number of firms going public in France evolve over time? How did the average underprizing evolve over time? Compared to the U.S. market  , are French IPOs, on average, fairly priced? (4 points)

Problem 1: Single- and Multiple-Choice Questions (22 points)   d) Single-choice question: Assume you receive an annual risk-free cash flow of $150 that starts in two years (t=2) and that continues up to infinity, i.e., the cash flow is a constant perpetuity. Today you are the time t=0. You will receive the first cash flow in t=2. The risk-free rate is 4% for all maturities. What is today’s (t=0) present value of the stream of future cash flows? (3 points)

Problem 2 – Excel: Bond valuation (13 points) Download the attached Excel file “Problem_2_Template.xslx” and answer the questions stated in the Excel file: Problem_2_Template.xlsx When you have completed your solutions, please upload the Excel file with your solutions to your e-exam using the name “StudentID_Problem_2.xslx” (e.g., “123456789_Problem_2.xlsx”). When you want to upload an updated version of your solutions, please add a version tag (e.g., “_v2”) at the end of the file name (e.g., “123456789_Problem_2_v2.xlsx”). This problem consists of four parts. Parts a), b) , c), and d) yield 3, 4, 3 , and 3 points, respectively.

A viable plate count estimates bacterial numbers by:

Which respiratory pathogen is particularly dangerous for premature infants and young children, often causing bronchiolitis?

Which of the following organisms is a Gram-negative bacillus commonly implicated in urinary tract infections?

The primary role of plasma cells is:

Oral thrush, a common fungal infection of the mouth for immunosuppressed individuals, is most often caused by which organism?

Which cells are responsible for humoral immunity?

Organisms that thrive in salty environments are called: