1. The CCC (triple C) Venture has issued convertible preferred stock to its venture investors. Each share of preferred stock is convertible into 0.80 shares of common stock and pays an annual cash dividend of $0.25.
   1. If each share of preferred stock has a market value of $4, what is the minimum price that a share of the CCC Ventures common stock should be selling for (ignore the dividend yield on the preferred stock)?