11- A security analyst has forecast the dividends of Hodges Enterprises for the next three years. His forecast is: D = $1.50; D2 = $1.75; D3 = $2.20. He has also forecast a price in three years of $48.50. The rate of return for similar-risk common stock is 14%. What is the value of Hodges common stock? ($36.88) 12- a. TTK Corp. preferred stock pays a $10 annual dividend per share. What is the price of a share of TTK preferred if similar-risk preferred yields 8%? What is the price if comparable preferred yields 11%? ($125., $90.91) b. A share of preferred stock with a $12 annual dividend is selling for $75. What is the required rate of return for the preferred stock? (16%)