15)

The 2008 balance sheet of Maria's Tennis Shop, Inc., showed $810,000 in the common stock account and $6.35 million in the additional paid-in surplus account. The 2009 balance sheet showed $905,000 and $8.55 million in the same two accounts, respectively. If the company paid out $630,000 in cash dividends during 2009, What was the cash flow to stockholders for the year?

21)

You are planning to save for retirement over the next 30 years. To do this, you will invest $1,000 a month in a stock account and $700 a month in a bond account. The return of the stock account is expected to be 10 percent, and the bond account will pay 5 percent. When you retire, you will combine your money into an account with a 7 percent return.

Required:

How much can you withdraw each month from your account assuming a 15-year withdrawal period?

34)

What is the present value of $1,700 per year, at a discount rate of 7 percent, if the first payment is received 6 years from now and the last payment is received 29 years from now?