QUESTION 1 Nova-Norda Corporation's sales are falling and its costs are rising. As a result, the company's dividends are declining at the constant rate of 8% per year. If the last dividend was $5 and minimum required rate of return in the market for similar stocks is 12%, what is the current value of Nova-Norda's stock? $16.80 $23.00 $44.67 $20 QUESTION 2 Rubato's preferred stock pays a dividend of $2 per quarter, and it sells for $100 per share. What is its annual (nominal) rate of return? 8.16% 8% 8.24% 7.83% QUESTION 3 The Ezhel Company just paid a dividend of $1 per share, and that dividend is expected to grow at a constant rate of 5% per year in the future. The company's beta is 1.75, the market risk premium is 5%, and the risk-free rate is 4%. What is the company's estimated stock price now? $15.61 $13.55 $18.16 $8.92