Please answer item 20 only. 2619. You are the manager in charge of global operations at BankGlobal-a large com-mercial bank that operates in a number of countries around the world. You mustdecide whether or not to launch a new advertising campaign in the U.S. market. Youraccounting department has provided the accompanying statement, which summarizesthe financial impact of the advertising campaign on U.S. operations. In addition, yourecently received a call from a colleague in charge of foreign operations, and sheindicated that her unit would lose $8 million if the U.S. advertising campaign werelaunched. Your goal is to maximize BankGlobal's value. Should you launch the newcampaign? Explain. (LOI, LO6, L07)Financial Impact on U.S. OperationsTotal RevenuesVariable CostTV AirtimeAd development laborTotal variable costsDirect Fixed CostDepreciation-computer equipmentTotal direct fixed costIndirect Fixed CostManagerial salariesOffice suppliesTotal indirect foxed costPre-Advertising Campaign$18,610,9005,750,3501,960,5807,710,9301,500,0001,500,0008,458,1002,003,500$10,461,600Post-Advertising Campaign$31,980,2008.610,4003,102.45011,712,8501,500,0001,500,0008,458,1002,003,500$10,461,60020. According to The Wall Street Journal, merger and acquisition activity in the first quarterrose to $5.3 billion. Approximately three-fourths of the 78 first-quarter deals occurredbetween information technology (IT) companies. The largest IT transaction of the quarterwas EMC's $625 million acquisition of VMWare. The VMWare acquisition broadenedEMC's core data storage device business to include software technology enabling multipleoperating systems such as Microsoft's Windows, Linux, and OS X-to simultaneouslyand independently run on the same Intel-based server or workstation. Suppose that atthe time of the acquisition a weak economy led many analysts to project that VMWare'sprofits would grow at a constant rate of 2 percent for the foreseeable future, and that theompany's annual net income was $39.60 million. If EMC's estimated portunity costof funds is 9 percent, as an analyst, how would you view the acquisition? Would yourconclusion change if you knew that EMC had credible information that the economy wason the verge of an expansion period that would boost VMWare's projected annual growthrate to 4 percent for the foreseeable future? Explain. (LOI, LOS, LO6, L07)21. Recently, European Union (EU) governments approved a five-year EU trade protec-tion against grain-oriented electrical steel (GOES) from Russia, Japan, China, SouthKorea, and the United States. The protection would consist of minimum import priceson shipments of GOES from any of the five listed countries. This measure was enactedas a punishment for exporters in these countries for allegedly dumping their product(i.e., selling below cost) on the European market. The European Steel Associationlauded the plan, noting it would help protect an important subdivision of the steelindustry. However, transformer manufacturers, who use GOES as an input to their pro-duction, have protested the minimum prices. They argue minimum prices will result inprices for GOES that are too high and lead some of these manufacturers to downsizeor move production facilities outside the EU. Describe the various rivalries depictedin this scenario, and then use the five forces framework to analyze the industry.(LOI, LO3, L04, L07)

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Wall Street Journal, merger and acquisition activity in the first quarter…