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the dawson corporation projects the following for the year 2005 630877

Items 1 and 2 are based on the following information:

The Dawson Corporation projects the following for the year 2005:

Earnings before interest and taxes

$35 million

Interest expense

5 million

Preferred stock dividends

4 million

Common stock dividend payout ratio

30%

Common shares outstanding

2 million

Effective corporate income tax rate

40%

The expected common stock dividend per share for Dawson Corporation for 2005 is

CMA adapted

  1. $2.34
  2. $2.70
  3. $3.90
  4. $2.10

If Dawson Corporation’s common stock is expected to trade at a price/earnings ratio of eight, the market price per share (to the nearest dollar) would be

  1. $125
  2. $ 56
  3. $ 72
  4. $ 68

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