1. Michael's, Inc. just paid $2.30 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will be increasing by 5.00 percent. If you require a rate of return of 9.2 percent, how much are you willing to pay today to purchase one share of Michael's stock? $59.80 $57.50 $28.75 $26.25 $17.01.

2. How do you A)Create a call from a put and a forward? B)Create a put from a call and a forward?

3. How does staging of new venture investments create value for the entrepreneur? What about for the investor.

4. Briefly discuss the Istanbul Stock Market.