Ranch Services just paid its annual dividend of $2.50 per share. The dividends are expected to grow at 24 percent annually for the next 4 years and then level off to an annual growth rate of 7 percent indefinitely. What is the price of this stock today given a required return of 10.25 percent?

Raul wants to join the directors of World Trade but currently owns no shares in the company. He knows that no one else will help elect him. Assume there are 46,000 shares outstanding at a market price of $12.80 per share. What is the minimum amount Raul must spend to acquire a seat on the board of directors if there are three open seats and straight voting applies?

Kerch Company had beginning net fixed assets of $216,558, ending net fixed assets of $211,722, and depreciation of $40,471. During the year, the company sold fixed assets with a book value of $8,038. How much did the company purchase in new fixed assets?

Stoneheart Group is expected to pay a dividend of $3.15 next year. The company’s dividend growth rate is expected to be 4 percent indefinitely and investors require a return of 11.6 percent on the company’s stock. What is the stock price?

Which one of the following determines the standards and procedures with which audited financial statements are prepared?

A prominent alumnus of your university has just donated $2,300,000 to fund a scholarship that will distribute $89,000 per year forever beginning in one year. For this to be true, what rate of return is expected on the donation?

Fifth Fourth National Bank has a savings program which will guarantee you $16,000 in 14 years if you deposit $75 per month. What APR is the bank offering you on this savings plan?

Kim Squared preferred stock pays a constant $5.10 dividend every year. What is the required return if the stock price is $43.73 per share?

Alpha Dog paid $2,380 in interest and $2,200 in dividends last year. The times interest earned ratio is 2.6 and the depreciation expense is $680. What is the value of the cash coverage ratio?

When compiling a pro forma statement, which policy most directly affects the projection of the retained earnings account balance?