1a.Use the following information to answer the question(s) below.

Company	Ticker	Price per Share	Earnings per Share	Book Value per Share
Abbott Labs	ABT	54.35	3.69	13.79
BristolMyersSquibb	BMY	25.45	1.93	7.33
GlaxoSmithKline	GSK	41.3	3.15	6.03
Johnson & Johnson	JNJ	62.6	4.58	18.27
Merck	MRK	36.25	3.81	10.86
Pfizer	PFE	$18.30	$1.20	8.19

Assuming that Novartis AG (NVS) has a book value of $20.00 per share, based upon the pricetobook ratios for its competitors, the lowest expected stock price for Novartis is closest to:

A.$22.95.

B.$7.47.

C.$44.60.

D.$13.00.

1b.Consider the following zerocoupon yields on defaultfree securities:

Maturity (years)	1	2	3	4	5
ZeroCoupon YTM	5.80%	5.50%	5.20%	5.00%	4.80%

The price today of a 4year defaultfree security with a face value of $1000 and an annual coupon rate of 5.25% is closest to:

A.$987.

B.$1008.

C.$1000.

D.$1003.

PLEASE ANSWER ALL QUESTION. NO WORK NEEDED ONLY ANSWER!