Answer the following questions. Table 6-4 or Table 6-5.

Note: Use appropriate factor(s) from the tables provided. Round the PV factors to 4 decimals. Required:

Spencer Company's common stock is expected to have a dividend of $3 per share for each of the next 15 years, and it is estimated that the market value per share will be $133 at the end of 15 years. If an investor requires a return on investment of 10%, what is the maximum price the investor would be willing to pay for a share of Spencer Company common stock today?

Mario bought a bond with a face amount of $1,000, a stated interest rate of 8%, and a maturity date 20 years in the future for $977. The bond pays interest on an annual basis. Three years have gone by and the market interest rate is now 14%. What is the market value of the bond today?

Alexis purchased a U.S. Series EE savings bond for $300, and six years later received $425.53 when the bond was redeemed. What average annual return on investment did Alexis earn over the six years?