Question: 12) A stock will pay no dividends for the next 6 years. Then it will pay a dividend of $6.61 growing at 1.66%. The discount

12) A stock will pay no dividends for the next 6 years. Then it will pay a dividend of $6.61 growing at 1.66%. The discount rate is 7.7%. What should be the current stock price?

13) A share of preferred stock pays a dividend of $9 and has a discount rate of 9.8%. What is the price?

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