1. A motor vehicle has annual depreciation of $2,000, oil changes cost $280, automobile insurance cost $420, and license plates cost $140 . What is the annual amount of the total fixed operating cost for this vehicle?
2. Suppose Nabisco Corporation just issued a dividend of $1.65 per share yesterday. Subsequent dividends will grow at a constant rate of 3.1% indefinitely. If the required rate of return for this stock is 16.9%, what is the value of a share of common stock today? (to nearest cent)