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You have finally saved? $10,000 and are ready to make your firstinvestment. You have the three following alternatives for investingthat? money:A Microsoft bond with a par value of $1,000 that pays 9.25percent on its par value in? interest, sells for 1,281.81?, andmatures in 9 years.Southwest Bancorp preferred stock paying a dividend of ?$2.17and selling for ?$23.74.Emerson Electric common stock selling for ?$63.97, with a parvalue of? $5. The stock recently paid a ?$1.68 ?dividend, and the?firm's earnings per share has increased from ?$2.36 to ?$3.78 inthe past 5 years. The firm expects to grow at the same rate for theforeseeable future.Your required rates of return for these investments are 4.00percent for the? bond,10.50 percent for the preferred? stock, and13.00 percent for the common stock. Using this? information, answerthe following questions.a. Calculate the value of each investment based on your requiredrate of return.b. Which investment would you? select? Why?c. Assume Emerson? Electric's managers expect an earnings togrew at 1 percent above the historical growth rate. How does thisaffect your answers to parts ?(a?) and ?(b?)?d. What required rates of return would make you indifferent toall three? options?