1. The common stock of JL Recyclers has a required return of 12 percent and a current value of $18.72. The company pays its dividend annually and increases the amount by 4 percent each year. You own 300 shares of this stock. What was the total amount of the last dividend you received?
$319.00
$360.00
$432.00
$480.00
$513.00
2. "Knit n Needle started paying dividends 4 years ago. The annual dividends thus far have been $0.25, $0.27, $0.30, and $0.33, respectively. What is the arithmetic average dividend growth rate?"
6.33 percent
8.58 percent
9.70 percent
10.80 percent
11.17 percent