Your bank offers free access to online banking, but they charge you $.02 for each online e-check you send. They charge you $.10 for each paper check you write. You have chosen to write all future checks online. Over the year you have sent an average of 18 checks per month. What have you saved in a year with online checking?

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?