21-Gulburg Corporation's current stock price is $18 per share, while its current dividends are $3 per share. If the rate of return is 15%, calculate the dividend growth rate.

Select one:

a. (1.43%)

b. 1.43%

c. 4.56%

d. 3.25%

e. (3.25%)

22-Preferred stock dividends fit the definition of a perpetuity.

Select one:

a. True

b. False

23-A project will produce an operating cash flow of $7,300 a year for three years. The initial cash investment in the project will be $11,601. The net after-tax salvage value is estimated at $3,500 and will be received during the last year of the project's life. What is the net present value of the project if the required rate of return is 11%?

Select one:

a. $10,072.72

b. $13,353.41

c. $8,798.29

d. $20,398.29

e. $9,896.87

-Just the correct answers (Letters), without any explanation at all, please!

- Just answer please if you are 100% sure about the answers; many thanks!