You are considering buying common stock in Grow On, Inc. The firm yesterday paid a dividend of $5.60. You have projected that dividends will grow at a rate of 10.0% per year indefinitely. If you would want an annual return of 22.0% to invest in this stock, what is the most you should pay for the stock now? $46.67 $51.33 $25.45 $28.00 $56.08 Timeless Corporation issued preferred stock with a par value of $1000. The stock promised to pay an annual dividend equal to 11% of the par value. If the appropriate discount rate for this stock is 16%, what is the value of the stock? $1454.55 $687.50 $1132.39 $564.44 $580.25