1. GM stock is currently selling for $44 per share and the current dividend is $2.00. The dividend is expected to grow at 9.0% per year. The before-tax cost of debt is 7.75% and the marginal tax rate is 40%. Use the data from this balance sheet to answer the following problems:

Assets			Liabilities & Equity
Cash	2,500		Long-Term Debt	42,236
Accounts Rec.	3,500		Equity	31,661
Inventories	12,456
Net Fixed Assets	55,441
Total Assets	73,897		Total Liab. & Equity	73,897

1. Calculate GM