[单项选择]Current dividend per share ( Do) paid on the company common stock $5.00
Required rate of return on the company common stock 15.5%
Expected constant growth rate in earnings and dividends 7.5%
The value of a share of the company's stock and the leading price/earnings (P/E) ratio, respectively, are closest to:
Value of stock Leading P/E ration（）
①A. $40.13 7.5
②B. $67.19 8.0
③C. $67.19 7.5
A. ①
B. ②
C. ③

[简答题]part 2 & 3Describe an advertisement. Why do companies use famous people in Ad Do you feel fair Can famous people affect the company Should children see ads .

[单项选择]An analyst does research about earnings per share and gathers the following information about a company's planned share repurchase using borrowed funds:

Before-tax borrowing	11%
Marginal tax rate	35%
Price / Earnings ratio before share repurchase	13

All else being equal, compared to earnings per share before the repurchase, earnings per share after the repurchase will most likely:（）
A. decrease.
B. remain the same.
C. increase.

[单项选择]

[听力原文]6-7
M: Who do you work for
W: ABC Company.
M: They’re in the dress business, aren’t they
W: That’ s right. I’ m the secretary to the General Manager. What about you
M: I work for IBM.
W: So you’ re in computers.
M: Yes, I’ m a product manager.
W: What are you working on at the moment
M: I can’ t give you all the details, because it’ s a secret, But we are developing a new product for the Chinese market.

Who does the woman work for （）
A. IBM.
B. A supermarket.
C. ABC Company.
D. A bookstore.

[单项选择]The current price of XYZ Inc. is $40 per share with 1000 shares of equity outstanding. Sales are $ 4000 and the book value of the firm is $ 10000. What is the price/sales ratio of XYZ Inc.（）
A. 0.010.
B. 10.000.
C. 4.000.

[单项选择]Baker Computer earned $6.00 per share last year, has a retention ratio of 55 percent, and a return on equity (ROE) of 20 percent. Assuming their required rate of return is 15 percent, how much would an investor pay for Baker on the basis of the earnings multiplier model（）
A. $173.90.
B. Need growth rate to complete calculation.
C. $74.93.

[填空题]______chemical group has the highest per share according to the report
A. A．Mitsubishi Petrpchemical
B．Shin-Etsu
C．Mitsui Petrochemical Industries

[单项选择]______ chemical group has the highest per share according to the report.
A. Mitsubishi Petrochemical
B. Shin-Etsu
C. Mitsui Petrochemical Industries

[单项选择]The executives have repeatedly indicated the company's interest in setting up shops provided the regulatory ______ are removed.
A. provides
B. hurdles
C. handles
D. paddles

[单项选择]

Large, multinational corporations may be the companies whose ups and downs seize headlines. But to a far greater extent than most Americans realize, the economy’s vitality depends on the fortunes of tiny shops and restaurants, neighborhood services and factories. Small businesses, defined as those with fewer than 100 workers, now employ 60 percent of the workforce and expected to generate half of all new jobs between now and the year 2000. Some 1.2 million small firms have opened their doors over the past 6 years of economic growth, and 1989 will see an additional 200000 entrepreneurs striking off on their own.
Too many of these pioneers, however, will blaze ahead unprepared. Idealists will overestimate the clamor(大声的要求) for their products or fail to factor in the competition. Nearly everyone will underestimate, often fatally, the capital that success requires. Midcareer executives, forced by a takeover or a restructuring to quit the corporation and find another way
A. sufficient preparation for his new business
B. the ups and downs of the transnational corporations
C. about 2400 small enterprises alive
D. the number of workers
E. about 2310 small enterprises alive
F. the careful thought about the small enterprises
G. the fate of the small businesses such as small plants and restaurants