24- A firm has a WACC of 15%. It is financed with 50% debt and 50% equity. The firm's cost of debt is 10% and its tax rate is 40%. If the firm's dividend growth rate is 8% and its current stock price is $52, what is the value of the next dividend the firm is expected to pay?

A) $4.70

B) $6.84

C) $7.35

D) $8.32

E) None of the above.

25- Which of the following is generally true about a firm's cost of debt?

A) It is equal to the yield to maturity on the firm's outstanding bonds.

B) It is greater than the cost of equity.

C) It is equal to the coupon rate on the firm's outstanding bonds.

D) All of the above.

E) None of the above

28- Which of the following would be considered an example of systematic risk?

I. Higher than expected inflation rates

II. Lower consumer spending than expected

III. Higher unemployment, and therefore interest rates, than expected

A) I only

B) I and II only

C) I and III only

D) II and III only

E) I, II and III

29- Which of the following is/are not considered to be market anomalies:

I The January effect.

II The World Cup effect

III The Super Bowl effect

IV The market crash of March, 18^th 1982.

A) I only

B) III only

C) I and III only

D) II and IV only

E) II, III, and IV only

31- A stock produced total returns of 9.78%, 13.61%, 1.19%, and 4.90% over the past four years, respectively. Based on this information, calculate the standard deviation? (use 5 decimal points when calculating variance and standard deviation)

A) 2.10%

B) 3.25%

C) 4.32%

D) 5.45%

E) 8.35%