Question: Jack bean common stock sells for $55 . 05 a share and pays an annual dividend that increases by 7% annually. The market rate of

  1. Jack bean common stock sells for $55.05 a share and pays an annual dividend that increases by 7% annually. The market rate of return on this stock is 9%. What is the amount of the last dividend paid by Jack bean?
  2. Heather receives an investment with a quoted return of 24% per year. If interestis compounded daily, what is the effective return on this investment?

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