The first annual payment in a growing annuity is $25,000. The annuity lasts for 10 years, the growth rate in the payments is 3% per year, and the appropriate discount rate 8%. What is the annuity's present value? Select one: a. $ 181,172 b. $ 167,752 c. $ 188,753 d. $ 172,785 e. None of the above McDundee, Inc. is expected to pay its common shareholders an annual $3.40 dividend one year from today. The company pledges to increase its dividend by 3% per year indefinitely thereafter. If your required rate of return for this stock is 14%, what value would you place on the stock today? Select one: a. $ 30.91 b. $ 28.80 c. $20.00 d. $ 24.29 e. $ 25.01