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1 5 . PQR , Inc., has an issue of preferred stock outstanding that pays a $ 6 . 2 7 dividend every year, in

15. PQR, Inc., has an issue of preferred stock outstanding that pays a $6.27 dividend every year, in perpetuity. If this issue currently sells for $71.02 per share, what is the required return in percent?
16. The stock price of XYZ Co. is $45.48. Investors require a 8.65 percent rate of return on similar stocks. If the company plans to pay a dividend of $5.84 next year, what constant growth rate (in percent) is expected for the company's stock price?
17. PQR Co. has current earnings of $7.27 per share, expected to grow at 3.58 percent per year. The benchmark PE for company is 29. What is current stock price?

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