1. Assume that in January 2013, the average house price in a particular area was $290,400. In January 2001, the average price was $207,300. What was the annual increase in selling price.
2. What is the most important step in the research process?
3. Find the after-tax return to a corporation that buys a share of preferred stock at $45, sells it at year-end at $45, and receives a $3 year-end dividend. The firm is in the 30% tax bracket. (Do not round intermediate calculations. Round your answer to 2 decimal places.) After-tax rate of return %