Future motors is expected to pay an annual dividend next year of $3.10 a share. dividends are expected to increase by 1.85 percent annually. what is one share of this stock worth at a required rate of return of 15 percent?

Price of stock = $23.57

Explanation:

Given that,

Expected to pay an annual dividend next year() = $3.10 a share

Dividends are expected to increase by 1.85 percent annually

Required rate of return(r) = 15 percent

According to the constant growth dividend discount model,

Where,

- Price of stock

g - Growth rate

                 = $23.57

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'