1. What is the present value of a cash flow if 16,000 yuan will be received in 2 years and the discount rate (interest rate) is 10\%? > 2. What is the present value if the discount rate is 4% ? > 3. What is the price of a stock if the next dividend is 100 yuan, the cost of capital R is 10% and the growth rate is 6% ? What is the price of the stock if the growth rate is 8% ? Use the model, Price =D1/(Rg). What happens to the stock when the growth rate increases