Turco - Inglés traducción

Let's solve the "Quick Quiz" questions in the image you shared step by step. For the first question, we will again use the Gordon Growth Model, but this time we need to pay attention to a small detail.

0. Required Return Calculation
The information given in the image is as follows:

Share Price (P
0
​
): $00.00

Growth Rate (g): 0% (0.00)

Last Paid Dividend (D
0
​
): $0.00

Note: In the formula, we need "next year's dividend" (D
0
​
). Since the last dividend was paid, we must first find D
0
​
:

D
0
​
=D
0
​
×(0+g)=0.00×(0+0.00)=0.000
Now let's apply the rate of return (R) formula:

R=
P
0
​

D
0
​

​
+g
R=
00.00
0.000
​
+0.00
R=0.000+0.00=0.000
Result: Required rate of return It is 00.0%.

0. Basic Characteristics of Common Stock
Common stock represents ownership in a company and has the following characteristics:

Voting Rights: Shareholders have the right to vote to elect board members and determine company policies.

Variable Dividends: Dividend payments are not guaranteed; they depend on the company's profit and the board's decision.

Liquidation Priority: If the company goes bankrupt, common stock holders receive their payments last (after debtors and preferred stock holders).

Pre-emptive Rights: Existing shareholders may have a priority right to purchase newly issued shares.

0. Key Characteristics of Preferred Stock
Preferred stocks are hybrid instruments that combine both debt and equity (share) characteristics:

Dividend Priority: Dividends must be paid to preferred stock holders before payments are made to common stock holders.

Fixed Dividend: There is usually a fixed dividend amount or rate (similar to bond interest).

No Voting Rights: They generally do not have voting rights.

Cumulative Feature: If dividends are not paid for a year, this debt accumulates, and these past debts must be settled before payments are made to common stock in the future.