Question 17 1 pts Cortez, Inc., is expecting to pay out a dividend of $2.50 next year. After that it expects its dividend to grow percent to the next four years. What is the present value of dividends over the next five year period of the required rate of return is 10 percent? Do not round Intermediate calculations. Round final answer to two decimal places) $11.50 $11.08 $10.76 $9.80 Question 18 1 pts Ajax Company has issued perpetual preferred stock with a par of $100 and a dividend of 5.5 percent. If the required rate of return is 7.75 percent, what is the stock's current market price? (Round off to the two decimal places.) $62.14 $53.27 $12.90 $70.97