1) Pharsalus Inc. just paid a dividend (i.e., D0) of $ 3.34 per share. This dividend is expected to grow at a rate of 2.5 percent per year forever. The appropriate discount rate for Pharsalus's stock is 11.0 percent. What is the price of the stock?

2) Eight years ago, Camerson and Co. issued 25-year coupon bonds. The yield to maturity at the time of issuance was 8 percent and the bonds sold at 110% of par value. The bonds are currently selling at par value. What is the current yield to maturity for these bonds?

3) Calculate the current price of a $5,000 par value bond that has a coupon rate of 10 percent, pays coupon interest quarterly (i.e., 4 times per year), has 27 years remaining to maturity, and has a current yield to maturity (discount rate) of 6 percent. (Round your answer to 2 decimal places and record without dollar sign or commas).