17. Which of the following features, or benefits, belong to a firm's common stockholders? a. limited liability b. ownership of the firm c. voting rights d. all of the above 18. Based on the constant dividend growth model, the value of a stock will decrease if the growth rate in dividends is expecte return d to or if investors' required rates of a. increase; increase b. increase; decrease c. decrease; increase d. decrease; decrease 19. What is the yield to maturity of a corporate bond with 15 years to maturity, a coupon rate of 6% per year, a $1,000 par value, and a current market price of $1,080? Assume semi-annual coupon payments. a. 4.3% b. 4.8% c. 5.2% d. 5.5% 20. Gakuto Inc. just paid a dividend of $1.20 on its common stock at the end of last year. Dividends next year are expected to be $1.75. You believe you can sell the stock then for $12.50. If your required rate of return on this stock is 1 196, how much are you willing to pay for the stock today? (Hint: are dividends growing constantly?) a. $14.05 b. $12.83 c. $12.50 d. $11.64