Robert gillman, an equity research analyst at gillman advisors, believes in efficient markets, he has been following the mining industry for the past 10 years and needs to determine the constant-growth rate that he should use while valuing pan asis minin co. robert has the following information available. pan asis minin co. stock is trading at $23.75the company's stock is expected to apy a year-end divfident of $1.14 that is expected to grow at a certain reat. the stock's expected rate of return is 11.40%based on the information just given, what will be robert's forecast of pamc's growth rate? a. 6.60% b.11.35 c. 5.48% d. 9.90%which of the following statements accurately describes the relationship between earning and dividends when all other factors are held constant? a. growth in earning requires in dividends. b. long-run earnings growth occurs primarily because firms pay dividends to reward their shareholders for investing in the companyc. retaining a higher percentage of earning will result in a higher growth rate.

5. understanding marginal and average tax rates consider the economy of citronia, where citizens consume only oranges. assume that oranges are priced at $1 each. the government has devised the following tax plans: plan a • consumption up to 1,000 oranges is taxed at 50%. • consumption higher than 1,000 oranges is taxed at 20%. plan b • consumption up to 2,000 oranges is taxed at 15%. • consumption higher than 2,000 oranges is taxed at 60%. use the plan a and plan b tax schemes to complete the following table by deriving the marginal and average tax rates under each tax plan at the consumption levels of 300 oranges, 1,200 oranges, and 3,000 oranges, respectively. consumption level plan a plan b (quantity of oranges) marginal tax rate average tax rate marginal tax rate average tax rate (percent) (percent) (percent) (percent) 300 1,200 3,000 complete the following table by indicating whether each plan is a progressive tax system, a proportional tax system, or a regressive tax system. progressive proportional regressive plan a plan b