15. Suppose you know that a companys stock currently sells for $54 per share and the required return on the stock is 9 percent. You also know that the total return on the stock is evenly divided between a capital gains yield and a dividend yield. If its the companys policy to always maintain a constant growth rate in its dividends, what is the current dividend per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Current Dividend Per Share = $

16.

After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of Schenkel Enterprises. Unfortunately, you will be the only person voting for you. If Schenkel has 435,000 shares outstanding, and the stock currently sells for $52, how much will it cost you to buy a seat if the company uses straight voting? (Do not round intermediate calculations.)

Total Cost = $

17.

After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of Schenkel Enterprises. Unfortunately, you will be the only person voting for you. Schenkel has 425,000 shares outstanding, and the stock currently sells for $50. Assume that Schenkel uses cumulative voting, and there are four seats in the current election. How much will it cost you to buy a seat?

Total Cost = $