On January 1, a company issued 3%, 10-year bonds with a face amount of $65 million for $59,685,694 to yield 4%. Interest is paid semiannually. What was the straight-line interest expense on the December 31 annual income statement

Storico co. just paid a dividend of $3.15 per share. the company will increase its dividend by 20 percent next year and then reduce its dividend growth rate by 5 percentage points per year until it reaches the industry average of 5 percent dividend growth, after which the company will keep a constant growth rate forever. if the required return on the company’s stock is 12 percent, what will a share of stock sell for today?