Question $1$: KEY will pay a dividend of $$1\mathrm{.}00$ next year.$$ The following dividends will be $$1\mathrm{.}20$ and $$1\mathrm{.}50.$ The predicted dividend growth rate after the next three years will be $5\%$ indefinitely.$$ What is this stock worth per share to you if you demand a $12\%$ rate of return?$$ Answer without a $ sign and to two decimal places.

Question $2$: Walker Healthcare, Inc. sells canes and walkers. Currently, it sells $10,000$ canes annually at an average price of $$20$ a unit. $$It is considering adding a lower$-$priced line of walkers which sell for $$49$ a unit. The company estimates it can sell $5,000$ units of the lower$-$priced walkers but will sell $250$ less canes and $500$ less of their expensive walkers sold at $$99$ a unit by doing so$.$What is the amount of the sales that should be used when evaluating the addition of the lower$-$priced walkers?

Question $3$: Lassiter$$s Route $66$ Gas is evaluating a project that will increase sales by $$160,000$ and costs $($not including depreciation$)$ by $$90,000.$ The project cost is $$200,000$ and it is depreciable by straight$-$line to a book value of zero over $4-$years.$$ The applicable tax rate is $21\%.$ What is the annual after$-$tax operating cash flow for this project?$$ Answer without a $ sign and without decimal places.

Question $4$: You own some equipment that you purchased three years ago at a cost of $$150,000.$ The equipment is depreciated to a current book value of $$25,000.$ You decide to sell the equipment today for $$32,500.$ What is your tax liability if your marginal rate is $21\%?$ Answer without a $ sign, without a $+$ or $$ sign, and without decimal places.$($Do not try to use the table from question $14$ you do not need it$,$ nor do you know if this is a five$-$year property depreciated using MACRS.$)$