Directions: Please answer the discussion questions in 150 words each, using in-text citation (APA style) and answer reply to the responses using 100 words each. This is for an ESL (English as a Second Language) Education Course. This is due within 26 hours! Discussion Question 1: Explore the National Center on Universal Design for Learning website, particularly noting the principles of UDL. How would employing these principles in lesson planning increase academic achievement of ELLs? Response: Magaly wrote – Universal Design for Learning (UDL) main goal is to make learning more accessible to students, especially those in inclusionary programs (Hallahan, Kauffman, & Pullen, 2019). UDL is a structure that gives flexible and responsive curriculum that will decrease learning barriers. The concept is that with modifications of representation (materials), expression (methods of communication) and engagement (how students respond to curriculum) teachers will be able to include a more diverse range of students in a general education classroom of instructions (Hallahan, Kauffman, & Pullen, 2019). When using UDL, educators and speech-language pathologist (SPLs) can provide curriculum options such as using varies ways to present a lesson. This is important because students can express themselves and their knowledge as well as being able to engage in learning. ELL students need to have variation and choices in their everyday class experience, as educators we should be able to provide different learning styles. Providing different learning styles ensures that ELL students are given the opportunity to have their needs educational goals both daily and by semester. The UDL guidelines can be mixed and matched according to specific learning goals and can be applied to particular content areas and contexts (CAST, 2018). They can be seen as a tool to support the development of a shared language in the design of goals, assessments, methods, and materials that lead to accessible, meaningful, and challenging learning experiences for all (CAST, 2018).  Response: Stefanie wrote – Universal Design for Learning (UDL) is a framework for teachers to build lesson plans that enables all students the opportunity to participate in, and progress in the general-education curriculum by decreasing their specific obstacles to education (Ralabate, 2017). Each student we will encounter within our classroom has their own needs, preferences for learning, and abilities. UDL takes the burden off of the students and teachers to adapt material and puts it on the curriculum and offers options for the ways that information is taught, how students demonstrate their skills and knowledge, and how students are able to engage in learning within their classroom (Ralabate, 2017) The UDL Guidelines offer a framework to optimize learning and teaching for all people based on how humans learn (The UDL Guidelines, 2021). This framework can then be used to look at the why of learning to provide eng ...

1. Directions: Please answer the discussion questions in 150 words
each, using in-text citation (APA style) and answer reply to the
responses using 100 words each. This is for an ESL (English as
a Second Language) Education Course. This is due within 26
hours!
Discussion Question 1: Explore the National Center on
Universal Design for Learning website, particularly noting the
principles of UDL. How would employing these principles in
lesson planning increase academic achievement of ELLs?
Response: Magaly wrote –
Universal Design for Learning (UDL) main goal is to make
learning more accessible to students, especially those in
inclusionary programs (Hallahan, Kauffman, & Pullen, 2019).
UDL is a structure that gives flexible and responsive curriculum
that will decrease learning barriers. The concept is that with
modifications
of representation (materials), expression (methods of
communication) and engagement (how students respond to
curriculum) teachers will be able to include a more diverse
range of students in a general education classroom of
instructions (Hallahan, Kauffman, & Pullen, 2019). When using
UDL, educators and speech-language pathologist (SPLs) can
provide curriculum options such as using varies ways to present
a lesson. This is important because students can express
themselves and their knowledge as well as being able to engage
in learning. ELL students need to have variation and choices in
their everyday class experience, as educators we should be able
to provide different learning styles. Providing different learning
styles ensures that ELL students are given the opportunity to
have their needs educational goals both daily and by semester.
The UDL guidelines can be mixed and matched according to
specific learning goals and can be applied to particular content
areas and contexts (CAST, 2018). They can be seen as a tool to

2. support the development of a shared language in the design of
goals, assessments, methods, and materials that lead to
accessible, meaningful, and challenging learning experiences
for all (CAST, 2018).
Response: Stefanie wrote –
Universal Design for Learning (UDL) is a framework for
teachers to build lesson plans that enables all students the
opportunity to participate in, and progress in the general -
education curriculum by decreasing their specific obstacles to
education (Ralabate, 2017). Each student we will encounter
within our classroom has their own needs, preferences for
learning, and abilities. UDL takes the burden off of the students
and teachers to adapt material and puts it on the curriculum and
offers options for the ways that information is taught, how
students demonstrate their skills and knowledge, and how
students are able to engage in learning within their classroom
(Ralabate, 2017)
The UDL Guidelines offer a framework to optimize learning and
teaching for all people based on how humans learn (The UDL
Guidelines, 2021). This framework can then be used to look at
the why of learning to provide engagement, the what of learning
to provide representation, and the how of learning through
action and expression (The UDL Guidelines, 2021). Learning
expectations lays out the goals for the lesson, instructional
strategies are the methods to accomplish said goals, the
materials that are needed to demonstrate learning is not limited
to one method, and the assessment refers to how the information
pertaining to the student’s progress is gathered and used to
continue to work towards creating expert learners that can
assess what their learning needs are, monitor their own
progress, sustain and regulate their own interest, persistence,
and effort to complete the learning task assigned (Ralabate,
2017).
The UDL guidelines and principles in lesson planning increase
academic achievement of ELLs because it allows for multiple

3. ways for ELL students to engage in the material being taught,
removes barriers that stand in the way of their understanding
what is being taught, and offers multiple ways to show their
understanding of the presented material. Conventional methods
of teaching based on a structured curriculum that does not offer
these supports will leave ELL students behind in the classroom
setting because it does not offer the freedom to meet these
students where they are in the learning process and help them to
succeed.
Discussion Question 2: Provide an example of a project,
assignment, or in-class activity that could be used as a means of
employing multiple assessments of ELLs. Why are multiple
assessments important? ( Subject: Secondary- 11th Grade
History)
Response: Amanda wrote-
When I read this question, I looked at each the project, the
assignment, and the in-class activity as varying levels of
assessments that make up a unit of study. To clarify, if you
were teaching a unit on Historical Fiction and the overall
objective was for students to be able to determine the major
theme of the novel you would design lessons that build up to
that point. You would first use a pre-assessment to gauge what
do my students know about theme, do I need to teach what
theme explicitly, or can I review it and weave theme related
activities throughout the unit. Then I would take that
information and use it to help determine what activities would
help them understand theme, determine how to gauge if they
were understanding it or not. I would use in-class activities and
assignments to assess them (formatively) to determine if they
needed more time, more context, or if they were ready to take
on the next chunk of learning reading the book and using all the
tools to determine theme and submit a final project on that
theme. Each lesson you teach should have layers to it, you

4. should determine what students know (this is your starting line),
assess them with comprehension questions or fun quizzes mid
lesson (this is mid-point assessment) to see if they are on track
or you need to slow the lesson down, and then you have the
final assignment or exit ticket that will show you what they
learned (this is the finisher) and if they made any progress from
the start of the lesson to the end.
Multiple assessments are important because they provide you
real information about the lesson you are teaching. They tell
you where the student started, where they are growing or not
growing so you can switch gears or add in more supports, and
then the final assessment is to show the progress they have
made.
“One assessment generates evidence, which in turn can be used
to make decisions about student learning and development, as
well as improve program quality and effectiveness. However,
the use of multiple measures encourages more comprehensive
and accurate assessment. This benefits not only the students
who are learning but also the instructors who are doing the
teaching” (Whalen, 2016, para. 1).
Multiple assessments serve students and teachers as a way to
demonstrate progress and help educators know when more
support is needed. They are valuable tools that can be done
simply through quick writes, quick multiple-choice quizzes, in-
class discussions, in-class polling, exit tickets, homework
assignments, and final projects.
MGMT 332
Corporate Finance I
1. Capital Budgeting
Final Exam

5. Argo Airlines is looking to buy some gates at a West Coast
airport. The key
financial variables are below. Note that the gates revert back to
the airport
at the end of year 15. Note that any losses trigger tax benefits.
Purchase Price $22M
Yearly Revenue $11M
Operating Costs 43% of revenue
Discount Rate 6.6%
Gate Renovation (Fit-out Costs) $3M (in year 5 and 10)
Revenue Inflator 1.2%
Tax Rate 21%
What are the NPV and IRR of the gates? Should Argo invest in
them? Why or
why not?
2. Company Valuation
BOAC Airline Supply is trading at $15/share but you think that
price may not
be right. You have the following data and you want to use it to
calculate its
share price:
Gross Sales (year 1) $103M
COGS 61% of sales
General & Admin $3.4M
Annual Sales Growth Rate 3.3%
Advertising, Promotion & Selling $3.4M
Yearly Inflation for non-COGS expenses 3.0%
Tax Rate 21%
Discount Rate 6.6%
Cash Balance $2M
Debt $2.4M

6. Shares o/s 33M
Cash Flow
Adjustment
Year
1
Year
2
Year
3
Year
4
Year
5
Year
6
Working Capital (2.1) (2.2) (2.3) (2.4) (2.4) (2.4)
Capital
Expenditures
(1.5) (1.6) (1.9) (2.2) (2.4) (3.0)
Question 2 continues on next page
March 2021 | MGMT 332 | College of Business |
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Page 2 of 3
Calculate the per share price and run sensitivities for growth
rates of
3.0%, 3.5%, and 4% as well as discount rates of 6%, 7%, and
8%.
Put these in a matrix.
3. Bond Valuation
Given the purchase prices, coupons and maturities of four
bonds, calculate the
yields to maturity to you, the investor. Assume a $1,000 par
value. Bonds A, B,
and C are semi-annual. Bond D is a zero but calculate its yield
with a semi-
annual equivalency. Provide your answers to 4 significant digits
(example:
6.1234%)
Bond Price Annual Coupon Maturing in
A 604.00 2.2% 8 years
B 780.00 2.4% 9 years
C 1,001.00 2.8% 10 years
D 455.00 10 years
4. Options and Futures

8. a. Your employer is offering you stock options on the firm as
part of
your pay package. You know the following about this offer:
Current Stock Price $13
Exercise Price $19
Maturity (yrs) 3
Risk-free Rate 2.1%
Stock Volatility 30%
What is the value of the option? Suppose the Fed raises
Treasury rates to
2.3%, what is the new price of the option? After this Fed action,
your
company's share price falls to $12, what is the new price of the
option?
b. Your cousins grow corn in Wisconsin and plan to harvest
10,000,000 bushels at
the end of the season. They are unsure whether to sell the
futures
contracts and lock the price in at $5.40/bushel or take a gamble
and sell it
all at the spot price at season's end. They think they can get
$4.80/bushel
based on historical prices and their own analysis.
Assuming no transaction costs and each contract covers 5,000
bushels,
what will the cousins' profit/loss be if they sell the contracts
and the spot
price is $5.44 at maturity? Ukraine had a bumper harvest and
spot prices
fall to $5.33/bushel, what will the cousins' profit/loss be now?

9. Question 4 continues on next page.
Page 3 of 3
c. Because its financial position has strengthened considerably
very
recently, Argo Airlines is offered an interest rate swap - fixed
to
floating (LIBOR). The details are as follows:
Current Argo Bond Maturity 10 years
Bond Face Value $333M
Current Bond Rate 4.5% per year, fixed
Floating rate LIBOR + 100 basis points
Projected LIBOR rates 3.3% (years 1-2)
3.4% (years 3-4)
3.5% (years 5-6)
3.6% (years 7-10)
Show the cash flows for Argo and the present value gain/loss of
doing the swap.
Calculate the per share price and run sensitivities for growth
rates of 3.0%, 3.5%, and 4% as well as discount rates of 8%,
9%, and 10%. Put these in a matrix.
Prob. 1Argo AirlinesPurchase price22,000,000Fit-out
costs3,000,000.0Yearly revenue11,000,000.0Revenue
inflator1.2%Operating costs (% of revenue)43.0%Discount
rate6.6%Tax
rate21.0%YearsStart123456789101112131415Investment22,000,
000.03,000,000.03,000,000.0Revenues11,000,000.011,132,000.0
11,265,584.011,400,771.011,537,580.011,676,031.011,816,144.

10. 011,957,937.012,101,433.012,246,650.012,393,610.012,542,333
.012,692,841.012,845,155.012,999,297.0Expenses4,730,000.04,
786,760.04,844,201.04,902,332.04,961,160.05,020,693.05,080,9
42.05,141,913.05,203,616.05,266,059.05,329,252.05,393,203.05
,457,922.05,523,417.05,589,698.0Income before
tax(22,000,000.0)6,270,000.06,345,240.06,421,383.06,498,439.
03,576,421.06,655,338.06,735,202.06,816,024.06,897,817.03,98
0,590.07,064,357.07,149,130.07,234,919.07,321,738.07,409,599
.0Taxes(4,620,000.0)1,316,700.01,332,500.01,348,490.01,354,6
72.0751,048.01,397,621.01,414,392.01,431,365.01,448,541.083
5,924.01,483,515.01,501,317.01,519,333.01,537,565.01,556,016
.0Net income after
tax(17,380,000.0)4,953,300.05,012,740.05,072,892.05,133,767.
02,825,372.05,257,717.05,320,809.05,384,659.05,449,275.03,14
4,666.05,580,842.05,647,812.05,715,586.05,784,173.05,853,583
.0NPV29,317,111IRR27%Text answer here.
Prob. 2BOAC Airline SupplyYrs. 1-6Sales growthCash
FlowsCosts:123456Cost of Goods Sold (% of
sales)Sales103.0Advert., Prom., & SellingCost of Goods Sold
General & AdministrativeAdvert., Prom., &
SellingRates:General & AdministrativeTaxNet Income before
TaxDiscountTaxesInflationNet Income after TaxResultsCash
flow adjustments:PV of NCF (incl. TV)Working Capital +
CashCapital Expenditures - DebtNet Cash FlowsTVTotal Equity
(M$)NCF (incl. terminal value) - # of shares outstanding (M) -
Price/share ($)Growth ratePrice/share ($)
for:3.0%3.5%4.0%6.0%Disc. Rate7.0%8.0%
Prob.
3ABCDYTMStart0.51.01.52.02.53.03.54.04.55.05.56.06.57.07.5
8.08.59.09.510.0
Prob. 4a. Option Pricingb. Futures PricesBaseFed Price
dropBaseUkraineExercise
priceBushelsMaturityBushels/contractStock price# of
contractsRisk free rateContract priceVolatilitySpot priceBS
calculations:Profit/(Loss) to
cousinsd1ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!N(d

11. 1)ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!c. Interest
Rate
Swapd2ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!Cash
FlowsN(d2)ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!B
ond outstandingOriginal Swap Pmts.NetPrice of
callERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!Maturity
(yrs.)Year 1Fixed rateYear 2Spread over LIBORYear
3LIBOR:Year 4Years 1-2Year 5Years 3-4Year 6Years 5-6Year
7Years 7-10Year 8Year 9Year 10Present value of net
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