First: What is the intrinsic value of a zero-growth stock? Second: The common stock of Jennifer's Furniture Outlet is currently selling at $32.60 a share. The company adheres to a 35% dividend payout ratio and has a P/E ratio of 19. There are 21,000 shares of stock outstanding. What is the amount of the annual net income for the firm? Third: What are structural changes in the economy that affect profitability of an industry? Fourth: What the price-to-cash-flow method of stock valuation generally uses as the cash flow value. Fifth: the required return can be sum of what?