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Pfender Guitars has a current annual cash dividend policy of $7.00. The price of the stock is set to yield a return of 9%. What

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Pfender Guitars has a current annual cash dividend policy of $7.00. The price of the stock is set to yield a return of 9%. What is the price of this stock if the dividend will be paid a. for 9 years and then the comapny repurchases the stock for $25 ? b. for 14 years and then the comapny repurchases the stock for $25 ? c. for 40 years and then the comapny repurchases the stock for $25 ? d. for 60 years and then the comapny repurchases the stock for $25 ? e. for 100 years and then the comapny repurchases the stock for $25 ? f. forever with no repurchase of the stock

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