1. The fundamental principle applied by courts in settling boundary disputes is

1) good of the neighborhood. 2) recommendation of the local planning commission. 3) intention of the parties. 4) doctrine of agreed boundaries.

2. A plat book is 1) broker's list of property available for sale. 2) part of the public record. 3) surveyor's instructions. 4) document presented to a property buyer.

3. Let’s look at a company that is currently not paying dividends. You predict that in five years the company will pay a dividend for the first time. The dividend will be $0.50 per share. You expect the dividend to grow at an 8% rate per year indefinitely at that time. The required return on companies like this one is 15%. What is the price of the stock today?

$5.39

$7.14

$4.08

$3.45

$1.75