Food Chain, Inc. common stock recently paid a dividend of $2.60. The firm typicallypays out 50% of its earnings as dividends and retains the rest for investment in the firm. Food Chain has a return on equity of 15 percent. If investors require a return of 12percent, what is the intrinsic value of the firm's common stock? Assume dividends will grow at a constant rate. a) $21.67
b) $23.29
c) $62.11
e) $57.78
d) $24.92

Ahospital purchases a $500,000 magnetic resonance imaging (mri) machine that has a useful life of 9 years. the salvage value at the end of 9 years is $77,000. (a) write a linear equation that describes the value y (in dollars) of the mri machine in terms of the time t (in years), 0 ≤ t ≤ 9. (b) find the value, in dollars, of the machine after 6 years. $ (c) find the time, in years, when the value of the equipment will be $140,000. (round your answer to two decimal places.) yr