1. What is public approval process in real estate development?
2. Public and wilt dixie both have bond issues outstanding. The public has annual interest payments of $60 and it matures in 15 years. The Wilt Dixie bond also has annual interest payments if $60 but it matures in 5 years. The market rate of interest is currently 4%. What is the difference in the market values of the two bonds?
3. A firm does not pay any dividend right now. It is expected to pay its first dividend of $0.5 per share in two years. This dividend will grow at 10 percent indefinitely. Using a discount rate of 13 percent, compute the value of this stock (at time 0).