a)Graphical Designs is offering 15-15 preferred stock. The stock will pay an annual dividend of $15 with the first dividend payment occurring 15 years from today. The required return on this stock is 4.45 percent. What is the price of the stock today?

$171.69

$175.43

$167.96

$337.08

$183.24

b)

Braxton's Cleaning Company stock is selling for $31.50 per share based on a required return of 9.6 percent. What is the the next annual dividend if the growth rate in dividends is expected to be 3.8 percent indefinitely?

$1.83

$2.00

$1.67

$1.76

$1.90

c)Stana, Inc., has preferred stock outstanding that sells for $102.63 per share. If the required return is 4.11 percent, what is the annual dividend?

$3.95

$4.22

$4.05

$3.80

$4.39