Your Granny created an endowment fund for you. You would receive AED $50,000$ every year for the next $25$ years. After $25$ years you would get a balloon payment of AED $1,000,000.$ How much is this endowment fund worth right now if the prevailing interest rate in the market is $12\mathrm{.}5\%(10$ marks$)$

$($b$)$ The common stock of Denis and Denis Research Inc. trades for $$60$ per share. Investors expect the company to pay a $$3\mathrm{.}90$ dividend next year, and they expect that dividend to grow at a constant rate forever. If investors require a $10\%$ return on this stock, what is the dividend growth rate that they are anticipating? $(10$ marks$)$

$($c$)$ Assume that a $$1,000-$par$-$value bond has a cou$-$pon rate of $5\%$ and will mature in $10$ years. It has a current price quote of $$810\mathrm{.}34.$ What is the yield to maturity of the bond?