Calculate how much money you would need to buy 150 shares of Hi Tech, Inc., which trades at $18.22. 3 Hi Tech, Inc.’s growth for the future is forecast-ed to be a constant 10 percent.
Problems In either a Word document or Excel spreadsheet, complete the following problems. • You may solve the problems algebraically, or you may use a financial calculator or an Excel spreadsheet. • If you choose to solve the problems algebraically, be sure to show your computations. • If you use a financial calculator, show your input values. • If you use an Excel spreadsheet, show your input values and formulas. In addition to your solution to each computational problem, you must show the supporting work leading to your solution to receive credit for your answer. Compute the following: 1 Imagine that on June 4, the Dow Jones Industrial Average closed at 13,598.14, which was up 148.86 points from the previous day’s close of 13,449.28. Calculate the return, in percent to four decimal places, of the stock market for June 4. 2 The cost per stock at a brokerage firm is $0.10. Calculate how much money you would need to buy 150 shares of Hi Tech, Inc., which trades at $18.22. 3 Hi Tech, Inc.’s growth for the future is forecast-ed to be a constant 10 percent. Hi Tech’s next dividend is expected to be $1.18. Calculate the value of HiTech stock when the required return is 12 percent. 4 Preferred stock from HiTech, Inc. pays $1.20 in annual dividend. Calculate the value of the stock if the required return on the preferred stock is 4.5 percent. HiTech, Inc. has earnings per share of $1.82 and a P/E ratio of 31.54. Calculate the stock price.
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