Objective type questions on calculation of beta and stock price

1.      Tom Skinner has $45,000 invested in a stock with a beta of 0.8 and another $55,000 invested in a stock with a beta of 1.4. These are the only investments in his portfolio. What is his portfolio's beta?

a)            0.93

b)            0.98

c)             1.03

d)            1.08

e)            1.13

2.      A share of common stock has just paid a dividend of $2.00. If the expected long-term growth rate for this stock is 7%, and if investors require a (n) 11% rate of return, what is the price of the stock?

a)            $47.50

b)            $49.00

c)             $50.50

d)            $52.00

e)            $53.50

3.      Brandi Co. has an unlevered beta of 1.10. The firm currently has no debt, but is considering changing its capital structure to be 30% debt and 70% equity. If its corporate tax rate is 40%, what is Brandi's levered beta?

a)            1.2549

b)            1.3829

c)              1.5764

d)            1.6235

e)            1.7458