1. The 2008 balance sheet of Maria's Tennis Shop, Inc., showed $870,000 in the common stock account and $6 million in the additional paid-in surplus account. The 2009 balance sheet showed $955,000 and $8.35 million in the same two accounts, respectively. If the company paid out $650,000 in cash dividends during 2009, What was the cash flow to stockholders for the year?
2. You are scheduled to receive annual payments of $10,100 for each of the next 23 years. Your discount rate is 10 percent. What is the difference in the present value if you receive these payments at the beginning of each year rather than at the end of each year?
3. Dinero Bank offers you a $39,000, 5-year term loan at 9 percent annual interest.
Required:
What will your annual loan payment be? (Do not round your intermediate calculations.)