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Suppose the payoff from a merger arbitrage operation is $5 million if successful, -$20 million if not. The probability of success is 83%. The expected payoff on the operation is
A. $5 million
B. $0.75 million
C. $0 since markets are efficient
D. Symmetrically distributed
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to measure how effectively an entity employs its resources an auditor calculates inventory turnover by dividing average
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