Week 8 AssignmentThe application assessment consists of five short answer questions. All work must be neat, detailed and clearly labeled. Final answers should be identified by either circling or underlining. Submit your work to the appropriate drop box as a Microsoft Word or PDF document.1. Suppose Global Cable has declared a dividend of $2,500,000. The company has 240,000 shares of preferred stock that pay $2.10 per share and 2,600,000 shares of common stock. After finding the amount of dividends due the preferred shareholders, calculate the dividend per share of common stock.2. Global Cable paid dividends of $0.28 and $0.16 per share last year. Given yesterday’s closing price was $11.27, determine the current yield on the stock? Round to the nearest tenth.3. The current yield on stock invested in Lynx Corporation is 4.2%. The dividend last year was $3.25 per share. What was the selling price of the stock?4. Suppose a mutual fund has total assets of $25,500,000 and liabilities of $2,100,000. Currently there are 10,200,000 shares outstanding. Determine the net asset value of the fund? Round to the nearest cent.5. You purchased 5,000 shares of a mutual fund at a price of $7.50 per share. You later sell those shares for $8.35 per share. During the time you owned the shares, the fund paid a dividend of $0.41 per share. Determine your investment return on the fund? Round answer to nearest tenth of a percent.6. Zack invested $5,500 in a mutual fund with an offer price of $20.40 and a net asset value of $10.50. How many shares did Zack purchase? Round to thousandths.