Granger Corp. stock currently sells for $48.29 per share. The market requires a 13 percent return on the firm's stock. If the company maintains a constant 5.5 percent growth rate dividends, what was the most recent annual dividend per share paid on the stock? Better Plastics is a mature manufacturing firm. The company just paid a $4 annual dividend, but management expects to reduce the payout by 3 percent per year, indefinitely. If you require a 12 percent return on this stock what will you pay for a share today? Suppose your company needs to raise $28 million and you want to issue 15-year bonds for this purpose. Assume the required return on your bond issue will be 8 percent, and you're evaluating two issue alternatives: an 8 percent annual coupon and a zero coupon bond. Your company's tax rate is 3 percent. In 15 years, what will your company's repayment be if you issue the coupon bonds? What you issue the zeroes? (Assume annual compounding on the zero coupon bond)