You own $105,000 worth of Smart Money stock. One year from now, you will receive a dividend of $2.75 per share. You will receive a dividend of $2.90 two years from now. You will sell the stock for $70 per share three years from now. Dividends are taxed at the rate of 40 percent. Assume there is no capital gains tax. The required after tax rate of return is 12 percent. How many shares of stock do you own

Many potential buyers value high-quality used cars at the full-information market price of € p1 and lemons at € p2. a limited number of potential sellers value high-quality cars at € v1 ≤ p1 and lemons at € v2 ≤ p2. everyone is risk neutral. the share of lemons among all the used cars that might be potentially sold is € θ . suppose that the buyers incur a transaction cost of $200 to purchase a car. this transaction cost is the value of their time to find a car. what is the equilibrium? is it possible that no cars are sold