1. Paychex Inc. (PAYX) recently paid an $0.82 dividend. The dividend is expected to grow at a 10 percent rate. The current stock price is $52.11. What is the return shareholders are expecting?

2. ABC Corporation currently has an inventory turnover of 21.71, a payables turnover of 14.36, and a receivables turnover of 13.94. How many days are in the cash cycle?

3. Dollar return on foreign Investments: Explain the following statements : if inflation differences are the only reason that interest rates are higher in one country than other, it is higly unlikely that arbitrage profits will exists in these countries financial markets.