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1. Johnston Corporation has a perpetual preferred stock with a par value of $150. The preferred stock has an annual dividend of $12 per share. The required rate of return on this preferred stock is 10 percent. What is the market price of the preferred stock? 2. A share of common stock has just paid a dividend of $5.00. If the dividend is expected to grow forever at 4 percent, and if investors require a 12 percent rate of return, what is the price of the stock? 3. Ryan's stock is expected to pay a year-end dividend of $2.50. The required return on the stock is 10%. If the dividend is expected to grow at a constant rate of 5%, what is this firm's stock price? 4. Mack Industries just paid a dividend of $2.00 per share. Analysts expect the company's dividend to grow 10 percent this year, and 20 percent next year. After two years the dividend is expected to grow at a constant rate of 5 percent. The required rate of return on the company's stock is 10 percent. What should be the current price of the company's stock