1. Corner Creation Corp preferred stock pays annual dividend of $3 per share. If the current interest rate is 5%, how much is an investor willing to pay for this preferred stock?

2. Dana Software currently pays an annual dividend of $3.50 per share on its common stock. The firm plans to maintain the dividend at this level for the foreseeable future as no growth is anticipated. If the current interest rate is 8%, compute the current price of the common stock.

3. Sam Houston Inc. currently pays an annual dividend of $5. The dividend is expected to grow at a constant rate of 5%. If the interest rate is 10%, compute the current stock price.

Please show your work.