Which of the following statement is incorrect? a. A high proportion of the value for a growth stock comes from past eamings
b. The convex shape of the bond price-yield curve shows the curve is steeper for lower interest rates
c. Callable bonds give bond issuer the right to retire the bond before its maturity date.
d. Preferred shares typically have a fixed dividend, whereas the dividend from common shares is determined by a firm's board of directors every year.
e. Preferred shares usually have less voting rights than common shares

ABC Inc. just paid a dividend of $1.1. It expects its earnings and dividends to increase at a rate of 8% per year for 3 years and then increase at a rate of 3% per year indefinitely. What is the value of the stock today if the required return is 11%? The value of the stock today is $
Note: Please retain at least 4 decimal places in your calculations and at least 2 decimal places in your answer.

Maldonia has a comparative advantage in the production of , while lamponia has a comparative advantage in the production of . suppose that maldonia and lamponia specialize in the production of the goods in which each has a comparative advantage. after specialization, the two countries can produce a total of million pounds of lemons and million pounds of coffee.

Jackson is preparing for his hearing before the federal communications commission (fcc) involving a complaint that was filed against him by the fcc regarding the interruption of radio frequency. the order to "cease and desist" using the radio frequency has had a detrimental impact on his business. once the administrative law judge prepares his or her initial order, jackson has no further options. no, jackson can request that the matter be reviewed by an agency board or commission. yes, once the initial order is presented, it's only a matter of time before the order becomes final.

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a. what is the firm’s labor demand function? b. if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c. now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]