1. Today the common stock of Gresham Technology closed at ?$20.80 per? share, down ?$0.31 from yesterday. If the company has 4.4 million shares outstanding and annual earnings of ?$12.2 ?million, what is its? P/E ratio? today? What was its? P/E ratio? yesterday?
2. What is the present value of $4,600 per year, at a discount rate of 10 percent, if the first payment is received 6 years from now and the last payment is received 20 years from now?
3. Given a cumulative wealth index for Treasury bills of $20.21 for the period 1926– 2010, calculate the geometric mean.