1. The preferred stock of Denver Savings and Loan pays an annual dividend of $7.70. It has a required rate of return of 7 percent.
Compute the price of the preferred stock. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Price =
2. Given a project planned to cost $12,000 but actual cost to date is $10,000 so far and the project is only 70% complete. Calculate the variances. Should the customer be happy?