1)You will receive $5,500 three years from now. The discount rate is 13 percent. UseAppendix B.

a.What is the value of your investment two years from now?(Round your answer to 2 decimal places.)

Value of investment

b.What is the value of your investment one year from now?(Round your answer to 2 decimal places.)

Value of investment

c.What is the value of your investment today?(Round your answer to 2 decimal places.)

Value of investment

2)Stagnant Iron and Steel Co. currently pays a $9.20 annual cash dividend(D₀). It plans to maintain the dividend at this level for the foreseeable future, as no future growth is anticipated.

If the required rate of return by common shareholders(K_e)is 19 percent, what is the price of each common share?(Round the final answer to 2 decimal places.)

Price of common share-?