1, Chipotle's last dividend was $1.00 per share, and the dividend is expected to grow at 10 percent indefinitely. The stock currently sells for $55 per share. What is Chipotle's cost of equity capital?

3, IBM Corporation has a preferred stock outstanding priced at $150 per share. If investors demand a 10 percent return on investments such as this, what is the annual dividend on the preferred stock?

2, 3M Corporation has a cost of equity of 12 percent and a pre-tax cost of debt of 8 percent. The firm's tax rate is 25 percent. Calculate 3M's weighted-average cost of capital (WACC) if the firm has a target debt-equity ratio of 50 percent.