1. Novio the Cat Incorporated reported sales of $117,186,600.00 in 2012. The firm had a net profit margin of 4.00% on these sales. The firm also reports $87,028,250.00 in assets for the year, with shareholder equity measured at $24,000,000. What is the asset turnover for Novio for 2012?
2. Bosh Heat Incorporated has a gross profit margin of 20.00%. It has sales of $795,620.00, and a current inventory level of $290,500.00. What is its inventory turnover ratio?
3. A stock is expected to pay a dividend of $1.00 the end of the year (that is, D1 = $1.00), and it should continue to grow at a constant rate of 4% a year. If its required return is 14%, what is the stock's expected price 4 years from today? Round your answer to two decimal places.