1. A 20-year AA-rated corporate bond was issued at par ten years ago with an 8% semiannual coupon. Over the past ten years, interest rates fluctuated, having risen to about 10%, but then having recently declined right back to where they were ten years earlier when issued. The company's risk (and therefore credit rating) has not changed. What is the present price of the bond?

2. If you can earn 7% on similar-risk investments, what is the least you should be willing to accept at the end of a six-year period (future value), given three equal payments of $1,994 made at the end of years 1, 3, and 5?

3. A stock just paid a dividend of $1.15, has a required rate of return of 17%, and a constant dividend growth rate of 3%. According to Myron Gordon's Constant Growth model for valuing stocks, for what price should this stock be selling?