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1. Firm D just paid a dividend of $0.64 per share. The dividend is expected to grow by 3% into perpetuity. If the cost of equity is 9.3%, what is the intrinsic value of the stock - $10.99
   • $10.46
   • $10.16
   • $7.09
2. What is the price of a $100, 12 year, 6%, semiannual bond with a YTM of 6.5%?

$95.88
		$95.92
		$104.23
		$100.00