Answer the following questions. Table 6-4 or Table 6-5. (Use appropriate factor(s) from the tables provided. Round the PV factors to 4 decimals.) Required: . Spencer Co.'s common stock is expected to have a dividend of $4 per share for each of the next 13 years, and it is estimated that the market value per share will be $135 at the end of 13 years. If an Investor requires a return on investment of 10%, what is the maximum price the investor would be willing to pay for a share of Spencer Co. common stock today? b. Manto bought a bond with a face amount of $1,000, a stated interest rate of 6% and a maturity date 11 years in the future for $975. The bond pays Interest on an annual basis. Three years have gone by and the market interest rate is now 12%. What is the market value of the bond today? C. Alexis purchased a U.S. Series EE savings bond for $200, and twelve years later received $779.12 when the bond was redeemed. What average annual return on investment did Alexis earn over the twelve years? No. of Periods Discount Rate 10% 12% 2% 4% 6% 8% 14% 16% 18% 0.8929 0.7972 0.7118 0.6355 0.5674 0.980 0.961 0.942 0.924 0.906 0.888 0.871 0.853 0.837 0.820 0.804 0.788 0.773 0.758 0.743 0.9615 0.9246 0.8890 0.8548 0.8219 0.7903 0.7599 0.7307 0.7026 0.6756 0.6496 0.6246 0.6006 0.5775 0.5553 0.9434 0.9259 0.9091 0.8900 0.8573 0.8264 0.8396 0.7938 0.7513 0.7921 0.7350 0.6830 0.7473 0.6806 0.6209 0.7050 0.6302 0.5645 0.6651 0.5835 0.5132 0.6274 0.5403 0.4665 0.59190 .5002 0.4241 0.5584 0.4632 0.3855 0.5268 0.42890.3505 0.4970 0.3971 0.3186 0.4688 0.3677 0.2897 0,4423 0.3405 0.2633 0.4173 0.3152 0.2394 0.5066 0.4523 0.4039 0.3606 0.3220 0.2875 0.2567 0.2292 0.2046 0.1827 0.8772 0.7695 0.6750 0.5921 0.5194 0.4556 0.3996 0.3506 0.3075 0.2697 0.2366 0.2076 0.1821 0.1597 0.1401 0.8621 0.7432 0.6407 0.5523 0.4761 0.4104 0.3538 0.3050 0.2630 0.2267 0.1954 0.1685 0.1452 0.1252 0.1079 0.8475 0.7182 0.6086 0.5158 0.4371 0.3704 0.3139 0.2660 0.2255 0.1911 0.1619 0.1372 0.1163 0.0985 0.0835 20% 0.8333 0.6944 0.5787 0.4823 0.4019 0.3349 0.2791 0.2326 0.1938 0.1615 0.1346 0.1122 0.0935 0.0779 0.0649 TABLE 6.5 FACTORS FOR CALCULATING THE PRESENT VALUE OF AN ANNUITY OF SI No. of Periods Discount Rate 10% 12% 2% 4% 6% 8% 14% 16% 18% 20% 0.980 1.942 2.884 3.808 4.713 0.9615 1.8861 2.7751 3.6299 4.4518 0.9434 0.9259 1.8334 1.7833 2.67302.5771 .4651 3.3121 4.2124 3.9927 0.9091 1.7355 7355 2.4869 3.16993 3.7908 0.8929 1.6901 2.4018 .0373 3.6048 0.8772 1.6467 2.3216 2.9137 3.4331 0.8621 1.6052 2.2459 2.7982 3.2743 0.8475 1.5656 2.1743 2.6901 3.1272 0.8333 1.5278 2.1065 2.5887 2.9906 5.601 5.2421 4.9173 6.472 6.0021 5.5824 7.325 6.7327 6.2098 8.162 74353 6.8017 8.983 8.11097.3601 4.6229 5.2064 5.7466 6.2469 6.7101 4.3553 4.8684 5.3349 5.7590 6.1446 4.1114 4.5638 4.9676 5.3282 5.6502 4 3.8887 4.2883 .6389 4.9464 5.2161 3.6847 4.0386 4.3436 4.6065 4.8332 3.4976 3.8115 4.0776 4.3030 4.4941 3.3255 3.6046 3.8372 4.0310 4.1925 9.787 10.575 11.348 12.106 12.849 8.7605 7.8869 9.3851 8.3838 9.9856 8.8527 10.5631 9.2950 11.1184 9.7122 7.1390 7.5361 7.9038 8.2442 8.5595 6.4951 6.8137 7.1034 7.3667 7.6061 5.9377 6.1944 6.4235 6.6282 6.8109 5.4527 5.6603 5.8424 6.0021 6.1422 5.0286 5.1971 5.3423 5.4675 5.5755 4.6560 4.7932 4.9095 5.0081 5.0916 4.3271 4.4392 4.5327 4.6106 4.6755