9. The YTM on bonds similar to that of Hite Corp. is 9%. Hite's bonds have an 11% coupon rate and mature in 20 years. They sell for 120. Do you recommend the purchase of these bonds? Why or why not? 10. Wilhite Co. has issued 11% bonds with 20 years to maturity. The YTM on bonds similar to that of Wilhite Co. is 13%. Would you be willing to pay $900 for a Wilhite bond? Explain. 11. Suppose that AT&T has just paid a dividend of $5 per share. The dividend is projected to grow at 5% per year indefinitely If the required return is 13%, how much is this stock worth? 12. Suppose that Dell Computer's dividends are expected to grow 25% for the next 2 years. After that a normal growth rate of 7% per year forever is expected. If the required return on Dell is 20% and the latest dividend is $3.00, what is the maximum you would pay for a share of Dell Computer? 13. Assume it is July 1997 and you are considering buying a 13% Varma Corporation bond that matures July 2012. The YTM on bonds of similar risk is 14%. Would you be willing to buy this bond if it is selling for 95? Explain