1. The common stock of Kangaroo Tours is selling for $67.13 a share and has a 14.6 percent rate of return. One-third of the return on this stock is derived from dividends and the other two-thirds is derived from capital gains. What is the amount of the next dividend?

2. A project has the following cash flows for years 0 through 2, respectively: -12,091, 9,780, 9,321. What is the internal rate of return on this project?

3. GDebi Enterprises is thinking of building a chemical processing plant to produce 4-hydroxy-3-methoxybenzaldehyde. The firm estimates that the initial cost of the project will be $10.4 million, and the plant will produce cash inflows of $7.8 million for the next 5 years, after which time the project will terminate. In the 6th year however, the firm will need to clean up the site, which it estimates will cost it $4 million. The discount rate the firm wants to use for the project is 13.8 percent. What is the NPV of this project? (Enter answer in millions.)