32. A bond will sell at a discount (below par value) if a the market value of the bond is less than the present value of the discount rate of the bond. b. current market interest rates are moving in the same direction as bond values. C investor's current required rate of return is above the coupon rate of the bond d. the economy is booming 9 33. Braun Tube Company just paid a dividend of $2.41 per share at the end of last year. Future dividends are expected to grow at a constant rate of 80% per year for the forseeable future. What is the intrinsic value of the stock if your required rate of return is 12.47%? a. $28.15 b. $24.88 c. $23.21 d. $20.94 34. One year ago Scully bought 500 shares of Hitchcock, Inc. at $38.04 per share. Today Scully decides to sell all of his shares at $36.87 per share. If Hitchcock, Inc, distributed 53.16 per share in dividends over the last year, what is Scully's HPR? a. 4.15% b. 5.23% c. 7.06% d. 8.78% 35. A corporation should use the and non-repeatable projects. decision criteria when ranking independent a. Discounted Payback Period b. Modified Internal Rate of Return Net Present Value d. Profitability Index 9 of 11