If the weak form of efficient markets holds, then

technical analysis is useless.

stock prices reflect all information contained in past prices.

stock prices follow a random walk

all of the above.

Martin's Inc. is expected to pay annual dividends of $$2\mathrm{.}50$ a share for the next three years. After that, dividends are expected to increase by $3\%$ annually. What is the current value of this stock to you if you require a $9\%$ rate of return on this investment?

$$39\mathrm{.}47$

$$40\mathrm{.}11$

$$41\mathrm{.}81$