49. You purchased a bond last year which pays a coupon rate of 8%, had 10 years to maturity and sold for $900. Today the bond is selling for $1,200. The most reasonable explanation for this change is? Investors have reevaluated the company that issued the bond and found it riskier than before. b. a. Investors have driven up bond interest rates requiring, therefore, higher prices. Investors have driven down bond interest rates requiring, therefore, lower prices. d. C. Investors have decided not to receive interest payments therefore driving up the price of the bond. e. The company that issued the bond has gone bankrupt. 50. The Ramirez Company's last dividend was $1.75. Its dividend growth rate is expected to be constant at 25% for 2 years, after which dividends are expected to grow at a rate of 6% forever, its required return (r) is 12%, what is the best estimate of the current stock price? a. $41.58 b. $42.64 c. $43.71 d. $44.80 e. $45.92