A company paid an annual dividend of $2.50 per share yesterday. The dividend is expected to remain constant for three years. At year three, after receiving the dividend, the stock can be sold for $47 a share. If the appropriate discount rate for the stock is 9.4 percent, what is the price of the stock today

Marcus nurseries inc.'s 2005 balance sheet showed total common equity of $2,050,000, which included $1,750,000 of retained earnings. the company had 100,000 shares of stock outstanding which sold at a price of $57.25 per share. if the firm had net income of $250,000 in 2006 and paid out $100,000 as dividends, what would its book value per share be at the end of 2006, assuming that it neither issued nor retired any common stock?