Hansen Inc. issued preferred stock at $500 with a 5.2% dividend. The current rate of return investors require is 4.7%. Calculate the expected price of the preferred stock. Assume the U.S. begins issuing consols, a government security without a maturity date. Assume a consol has a face value of $10,000 and pays interest of 1.8%. Belinda wants a 2.6% return for this investment. Calculate the value of the consol to Belinda. Morrow Corp. is selling a product that it expects will generate cash flows of $680,000 every year. The company's required rate of return is 9.5%. Calculate the value of this product to Morrow Corp. Liu Ltd. has an offer from another company to buy its Jia Juice product. Liu Ltd. expects Jia Juice will continue to generate cash flows of $720,000 every year. Liu Ltd.'s required rate of return is 8.9%. Calculate the minimum price Liu Ltd. would accept to sell Jia Juice.