1. Ultra Fine Furnishings is in the process of selling its peripheral businesses and focusing on its upscale clients. In conjunction with this reorganization, the dividend will be decreased by 10 percent for the next two years. After that, the dividend will resume increasing at an annual rate of 6 percent. The required return on this stock is 14 percent and the last dividend paid was $2.40 a share. What is one share of this stock worth today?

A. 17.34

B. 18.08

C. 18.35

D. 19.68

E. 20.72

2. The price of a stock increased from $32 to $38. Using phi, what are the primary and secondary support areas for the stock.

A. 33.67,35.33

B.35.71,34.29

C.38.14,36.99

D.36.99, 38.14

3. What is the net money flow at the end of the trading day?

Price	Volume
32
33	7000
33	8500
31	3200
34	5600

4. Wilson's Furniture is experiencing good growth so has decided to commence paying dividends starting next year. The first dividend will be $0.50 a share with annual increases of 4 percent in the dividend amount. The discount rate is 10 percent. What will the value of this stock be three years from now?