QUESTION 5 Precision Engineering recently announced that its next annual dividend will be $3.88 per share with later dividends increasing by 7 percent annually. What is the current value of this stock to you if you require a 10.7 percent rate of return? (round up your answer to two decimal places) QUESTION 6 Standard, Inc. reported EBIT of $57.00 million for last year. Depreciation expense totaled $20 million and capital expenditures came to $7 million. The company increased net working capital by $2 million, Free cash flow is expected to grow at a rate of 5.30% for the foreseeable future. Standard faces a 40% tax rate and has a 0.40 debt to equity ratio with $200 million (market value) in debt outstanding. Standard's equity beta is 1.24, the risk-free rate is currently 5% and the market risk premium is estimated to be 6%. What is the current value (in millions) of Standard's equity