What is the present value of an annuity of 15 consecutive annual payments of $550 if the annuity does not begin making payments until the end of the fifth year? Use an interest rate of 6%.

An inheritance provides an award of $9,999 at the end of each year forever, beginning in one year. At the reading of the will you learn that you can instead trade this award for a one-time immediate (time 0) payment of $199,999. What interest rate is being applied to value this perpetuity?

A particular stock currently pays no dividend. However, in two years, the dividend is expected to be $1.50, and the dividend is expected to stay at this level forever. The required rate of return is 10%. According to the dividend discount model, which of the following comes closest to the price of the stock today? 2 decimal points