$33.00 per share is the current price for Foster Farms’ stock. The dividend is projected to increase

$33.00 per share is the current price for Foster Farms’ stock. The dividend is projected to increase at a constant rate of 5.50% per year. The required rate of return on the stock, rs, is 9.00%. What is the stock’s expected price 3 years from today?a. $37.19b. $38.75c. $36.96d. $37.42e. $36.50CMS Corporation’s balance sheet as of today is as follows:Long-term debt (bonds, at par)$10,000,000Preferred stock2,000,000Common stock ($10 par)10,000,000Retained earnings4,000,000Total debt and equity$26,000,000The bonds have an 8.1% coupon rate, payable semiannually, and a par value of $1000. They mature exactly 10 years from today. The yield to maturity is 12%, so the bonds now sell below par. What is the current market value of the firm’s debt?a. $7763365b. $7766788c. $7764221d. $7765077e. $7765932