1. © 2003 The McGraw-Hill Companies, Inc. All rights reserved. Raising Capital Chapter Sixteen

2. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved.

3. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved.

4. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved.

5. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved.

6. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved.

7. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved.

8. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved.

9. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved.

10. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved.

11. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved.

12. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved.

13. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved. FIGURE 16.1

14. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved. FIGURE 16.2

15. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved. FIGURE 16.3

16. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc. All rights reserved. FIGURE 16.4