Tiles Co. has a capital structure that includes bonds, preferred stock, and common stock. Which one of the following rights is most apt to be granted to the preferred shareholders? Right to share in company profits prior to other shareholders. Right to vote on proposed mergers. Right to all residual income after the common dividends have been paid. Right to elect the corporate directors. Tuft Co. has a policy of increasing the annual dividend on its common stock at a constant rate of 2% annually. The firm paid an annual dividend of $4 last week. The required return is 7%. What is the estimated stock price in Year 2 (P2)? Cannot compute it due to insufficient information $84.90 $80.00 $83.23