Alex, a senior professional golfer living in Florida, en¬tered into a sponsorship agreement with Golf Pro Associates, a Michigan partnership ("GPA"). The agreement provided that (1) GPA would sponsor Sutton on the PGA Tour, (2) GPA would pay all of Alex’s expenses, (3) GPA and Alex would equally divide his prize money after GPA is re¬imbursed for expenses, and (4) GPA would provide Alex health insurance.
Preliminary negotiations were on the telephone. GPA prepared a written agreement at its office in Michigan and sent it to Alex in Florida, who signed and returned it to GPA. GPA then signed the agreement and sent a copy to Alex. He participated in several senior PGA events, including two in Florida. While playing in Palm Springs, Alex suffered a heart attack and incurred medical costs of $100,000. GPA had not obtained health insurance coverage as agreed, so Alex sued GPA in a Florida state court for breach of contract. GPA moved to dismiss the action for lack of personal jurisdiction.
A. Can the Florida court, under its long arm statute, exercise personal juris­diction over the Michigan defendant in this case? Discuss.

Cardinal company is considering a project that would require a $2,725,000 investment in equipment with a useful life of five years. at the end of five years, the project would terminate and the equipment would be sold for its salvage value of $400,000. the company’s discount rate is 14%. the project would provide net operating income each year as follows: sales $2,867,000 variable expenses 1,125,000 contribution margin 1,742,000 fixed expenses: advertising, salaries, and other fixed out-of-pocket costs $706,000 depreciation 465,000 total fixed expenses 1,171,000 net operating income $571,000 1. which item(s) in the income statement shown above will not affect cash flows? (you may select more than one answer. single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. any boxes left with a question mark will be automatically graded as incorrect.) (a)sales (b)variable expenses (c) advertising, salaries, and other fixed out-of-pocket costs expenses (d) depreciation expense 2. what are the project’s annual net cash inflows? 3.what is the present value of the project’s annual net cash inflows? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 4.what is the present value of the equipment’s salvage value at the end of five years? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 5.what is the project’s net present value? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.)