Suppose hornsby ltd. just issued a dividend of $2.56 per share on its common stock. the company paid dividends of $2.06, $2.13, $2.30, and $2.40 per share in the last four years. if the stock currently sells for $75, what is your best estimate of the company's cost of equity capital using arithmetic and geometric growth rates?

Krier industries has just completed its sales forecasts and its marketing department estimates that the company will sell 43,800 units during the upcoming year. in the past, management has maintained inventories of finished goods at approximately 3 months' sales. however, the estimated inventory at the start of the year of the budget period is only 7,300 units. sales occur evenly throughout the year. what is the estimated production level (units) for the first month of the upcoming budget year?