Achi Comp has preferred stock with an anvual dividend of $3.18. If the required retum on Achis peeferred slock is 7.7N, what is its price? (Hint. For a prefereed stock. the divibend grownt rate is zero) Achir stock pilee wil bet (Alound to the nearest cert) Summit Systems will payy a dividend of $1.49 this year. If you expect Summit's dividend to grow by 5.2% per year, what is is price per share if the frm's equity cost of capital is 11.4 \$. The phen per thare is 3 (Round to the nearest cent)