The stock price of Tankonyv, Inc. is $76. Investors require a 4.5 percent rate of return on similar stocks. If the company plans to pay a dividend of $1.10 next year, what growth rate is expected for the company's stock price?

A share of common stock just paid a dividend of $1.25. If the expected long-run growth rate for this stock is 5.4%, and if investors' required rate of return is 9.2%, then what is the stock price?

The textbook writes: Preferred stock is a hybrid cross between a stock and a bond.

Explain, while also answering the questions: What are preferred stocks? How are preferred stocks different from common stocks? How are preferred stocks different from bonds? From an investors perspective which is riskier preferred stocks or bonds, from the issuers point of view, which is riskier?