1.PoulterCorporation will pay a dividend of $4.45 per share next year. The company pledges to increase its dividend by 6 percent per year, indefinitely.

If you require a return of 9 percent on your investment, how much will you pay for the company's stock today?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

2.Burkhardt Corp. pays a constant $13.50 dividend on its stock. The company will maintain this dividend for the next 8 years and will then cease paying dividends forever.

If the required return on this stock is 11 percent, what is the current share price?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

3.Smiling Elephant, Inc., has an issue of preferred stock outstanding that pays a $5.60 dividend every year, in perpetuity.

If this issue currently sells for $80.40 per share, what is the required return?(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

4.Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 11 yearsbecause the firm needs to plow back its earnings to fuel growth. The company will then pay a dividend of $12.50 per share 12 years from todayand will increase the dividend by 5.5 percent per year thereafter.

If the required return on this stock is 13.5 percent, what is the current share price?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

5.BiarritzCorp. is growing quickly. Dividends are expected to grow at a rate of 30 percent for the next three years, with the growth rate falling off to a constant 7.5 percent thereafter.

If the required return is 13 percent and the company just paid a dividend of $2.55, what is the current share price?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

6.Antiques 'R' Us is a mature manufacturing firm. The company just paid a dividend of $11.80, but management expects to reduce the payout by 4.75 percent per year, indefinitely.

If you require a return of 9 percent on this stock, what will you pay for a share today?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)