公司理财的作业和答案(下载).pdf

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1、WashingtonStateUniversityFinance325PracticeProblems(StockValuation)1.Michael’s,Inc.justpaid$1.40totheirshareholdersastheannualdividend.Simultaneously,thecompanyannouncedthatfuturedividendswillbeincreasingby4.5percent.Ifyourequirean8percentrateofreturn,howmuchar

2、eyouwillingtopaytopurchaseoneshareofMichael’sstock?2.Angelina’smadetwoannouncementsconcerningtheircommonstocktoday.First,thecompanyannouncedthattheirnextannualdividendhasbeensetat$2.16ashare.Secondly,thecompanyannouncedthatallfuturedividendswillincreaseby4perce

3、ntannually.WhatisthemaximumamountyoushouldpaytopurchaseashareofAngelina’sstockifyourgoalistoearna10percentrateofreturn?3.Astockpaysaconstantannualdividendandsellsfor$31.11ashare.Iftherateofreturnonthisstockis9percent,whatisthedividendamount?4.Youhavedecidedthat

4、youwouldliketoownsomesharesofGHCorp.butneedanexpected12percentrateofreturntocompensatefortheperceivedriskofsuchownership.WhatisthemaximumyouarewillingtospendpersharetobuyGHstockifthecompanypaysaconstant$3.50annualdividendpershare?5.TurnipsandParsleycommonstocks

5、ellsfor$39.86ashareatamarketrateofreturnof9.5percent.Thecompanyjustpaidtheirannualdividendof$1.20.Whatistherateofgrowthoftheirdividend?6.B&KEnterpriseswillpayanannualdividendof$2.08ashareontheircommonstocknextweek.Lastyear,thecompanypaidadividendof$2.00ashare.T

6、hecompanyadherestoaconstantrateofgrowthdividendpolicy.WhatwilloneshareofB&Kcommonstockbeworthtenyearsfromnowiftheapplicablediscountrateis8percent?7.TheRedBudCo.paysaconstantdividendof$1.20ashare.Thecompanyannouncedtodaythattheywillcontinuetodothisforanother3yea

7、rsafterwhichtimetheywilldiscontinuepayingdividendspermanently.Whatisoneshareofthisstockworthtodayiftherequiredrateofreturnis7percent?8.BillBaileyandSonspaysnodividendatthepresenttime.Thecompanyplanstostartpayinganannualdividendintheamountof$.30asharefortwoyears

8、commencingtwoyearsfromtoday.Afterthattime,thecompanyplansonpayingaconstant$1asharedividendindefinitely.Howmuchareyouwillingtopaytobuyashareofthisstockifyourrequiredreturnis1