When preparing the cash flow statement under the direct method, depreciation is ignored since the statement is prepared by reconstructing the income statement from a cash flow perspective.
The statement starts with cash received from customers and works its way down through the income statement.

Let A denote the event she passes the first exam and B denote the event she passes the second exam, then P(A or B) = P(A) + P(B) - P(A and B) = 0.85 + 0.80 - 0.78 = 0.87.

The lessor wants to either recover the fair market value of the asset it is selling or recover whatever is possible. The lessor's implicit rate in the lease is the rate of interest that the lessor charges the lessee for providing financing. The implicit rate is usually higher than the lessor's own borrowing rate so that the lessor makes a profit on the interest spread. The lessee's incremental borrowing rate does not enter into this calculation. The prime rate (8%) is never used unless it happens to be the same as the implicit rate.

While different hedge funds have varying degrees of risk and they take positions in risky derivatives which may be quite speculative, this is not one of their classifications, however.

Price moves are clearly visible in the candlestick chart (compared to a bar chart).