The Stoudemire Trust reports $145,000 of net investment income (NII) and $160,000 in net profits from an active business operation for 2019. Stoudemire retains all of the business profits but, under the terms of the trust agreement, distributes $17,400 cash from the NII to its sole beneficiary Marshall. The trust's liability under the additional tax on NII is:

Beachballs, inc., expects abnormally high earnings for the next three years due to the forecast of unusually hot summers. after the 3-year period, their growth will level off to its normal rate of 6%. dividends and earnings are expected to grow at 20% for years 1 and 2 and 15% in year 3. the last dividend paid was $1.00. if an investor requires a 10% return on beachballs, the price she is willing to pay for the stock is closest to: