Miller Water Inc. paid out $30,000 common dividends during 2019, and it ended the year with $160,000 of retained earnings. The prior year's retained earnings were $157,000. What was the firm's 2019 net income? A) $30,000 B) $31,000 C) $32,000 D) $33,000 The real risk-free rate of interest is 2.5%. Inflation is expected to be 3% this year and 3.5% during the next three years. Assume that the maturity risk premium is zero. What is the yield on 4-year Treasury securities? A) 9.00% B) 8.50% C) 6.50% D) 5.88% Assume that you wish to purchase a 20-year, semiannual bond with a coupon rate of 8% and a par value of $1,000. If you require a 10 percent nominal yield to maturity on the bond, what should be the bond price? A) $619.80 B) $674.50 C) $828.41 D) $761.78 You want to go to a graduate school 3 years from now. You can save $5,000 per year and deposit in an investment account at the end of each year. If the interest rate is 9%, how much will you have 3 years from now? A) $18,349.15 B) $16,110.34 C) $16,390.50 D) $17,513.68