Explain the difference between a unilateral contract and a bilateral contract
What will be an ideal response?
A unilateral contract is defined as an exchange of a promise for an act. For example, if City A promises to pay a reward of $5,000 to anyone who provides information leading to the arrest and conviction of the individual who robbed a local bank, the promise is accepted by the act of the person who provides the information. A bilateral contract involves the exchange of one promise for another promise. For example, Jones promises to pay Smith $5,000 for a piece of land in exchange for Smith's promise to deliver clear title and a deed at a later date.
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A share of common stock has an expected long-run constant growth rate of 10 percent and is currently priced at $66 per share. If investors require 15% rate of return, what was the last dividend paid on the stock?
A) $2.20 B) $1.95 C) $6.15 D) $3.00 E) $3.30