#3

Show working. The Impulse Shopper recently paid an annual dividend of $1.13 per share. The company just announced that it is suspending all dividend payments on its common stock for the next five years. After that, the company expects to pay $.50 a share at the end of each year. At a required return of 18 percent, what is this stock worth today? A. $0 B. $1.13 C. $2.78 D. $1.03 E. $1.21 There are three open positions on the board of directors of XYZ Enterprises. The company has $4,000 shares of stock outstanding. Each share is entitled to one vote. How many shares of must you own to guarantee your personal election to the board of directors if the firm uses voting