Six years ago, Bradford Community Hospital issued 20-year municipal bonds with a 7 percentannual coupon rate. The bonds were called today for a $70 call premium--that is, bondholdersreceived $1,070 for each bond.

I need the realized rate of return for those investors who boughtthe bonds for $1,000 when they were issued.

California Clinics of Bradford Community Hospital, an investor-owned chain of ambulatory care clinics, just paid a dividend of $2per share. The firm's dividend is expected to grow at a constant rate of 5 percent per year, andinvestors require a 15 percent rate of return on the stock.

a. I need the stock's value.

b. Suppose the riskiness of the stock decreases, which causes the required rate of return to fall to13 percent. Under these conditions, I need he stock's value.

c. Return to the original 15 percent required rate of return. Assume that the dividend growth rateestimate is increased to a constant 7 percent per year. I need the stock's value.