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Homework answers / question archive / 1)Monsters Inc
1)Monsters Inc. is a utility company that recently paid a common stock dividend of $2.94 per share. If its divided growth rate is expected to remain at 4 percent per year indefinitely and its equity cost of capital is 7 percent, the current price of a share of Monsters' common stock is closest to $________. Input your answer without the $ sign and round your answer to two decimal places.
2)Suppose you borrow from a bank $1,997.26 today (t=0). You agree to pay back $3,943.65 in 5 years (t=5). The interest rate (%) that the bank charge you is closest to ________%. Input your answer without the % sign and round your answer to two decimal places.
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