Answer:
The legislature budget board and the governor are authorize to transfer money from one agency to other.
Explanation:
Given:
Money needs to be transferred from 1 agency to other when legislature is not in session:
Solution:
When Legislature is not in session, the legislature budget board and the governor are authorize to transfer the money from one agency to other during emergencies.
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Answer:
Cost of equity = 10.7%
Explanation:
<em>We will work out the required rate of return using the the dividend valuation model. The model states that the value of a stock is the present value of the future divided discounted at the cost of equity.
</em>
The model is given below:
P = D× (1+g)/(r-g)
P- price of stock, D- dividend payable now, g- growth rate in dividend, r- cost of equity
So we substitute
130 = 5.50× (1+r)/(r-0.06)
cross multiplying
(r-0.06)× 130 = 5.50 × (1+r)
130 r- 7.8 = 5.50 + 5.50r
collecting like terms
130 r - 5.50r=5.50 + 7.8
124.5 r= 13.3
Divide both sides by 124.5
r =13.3 /124.5= 0.1068
r=0.1068 × 100= 10.7%
Cost of equity = 10.7%
