Pfender Guitars has a current annual cash dividend policy of $7.00. The price of the stock is set to yield a return of 10%. What is the price of this stock if the dividend will be paid

a. for 10 years and then the company repurchases the stock for $30?

b. For 13 years and then the company repurchases the stock for $30?

c. For 50 years and then the company repurchases the stock for $30?

d. For 60 years and then the company repurchases the stock for $30?

e. for 100 years and then the company repurchases the stock for $30?

f. Forever with no repurchase of the stock?

13. Staton-Smith Software is a new start-up company and will not pay dividends for the first five years of operation. It will then institute an annual cash dividend policy of $4.25 with a constant growth rate of %3, with the first dividend at the end of year six. The company will be in the business for 25 years total. What is the stocks price if an investor wants

A return of 12%?

A return of 14%?

A return of 25%?

A return of 40%?