online mock exam- questions

I have a few questions that I do on the online mock, that I don’t understand how I have got wrong. please could you explain the following:

1.

A company has just paid a dividend of $0.23 per share.
Shareholders are expecting the dividend to remain at $0.23 per share next year, but to increase at an average rate 3% per annum thereafter.
Shareholder required return is 12%, and the rate of corp tax is 25%

What will be the current market value per share (to the nearest cent)?

A $2.63
B $2.71
C $2.33
D $2.56- This is the answer, how was it worked out?

Another Question:

2.
A company has credit sales of $45m per year, and cost of sales of $30m per year.
they have calculated working capital measures as follows:

Trade Rec’able days 40 day
Inventory days 30 days
Trade payables days 36 days

there are 360 days in a year.

What is the net investment in working capital?

A $3M
B $4M- This is the answer, how was it worked out?
C $5.25M
D $4.25M

Another Question:

3.
A company has agreed to lease a machine for a period of 8 years, with equal annual payments payable at the start of each year.

The NPV of the agreement at a rate of 10% is $52,000

Wat is the annual lease payment (to the nearest $)

A $8862- This is the answer, how was it calculated?
B $8208
C $9747- I thought this was the answer.
D $13444

Last one:

4.
A project requires an investment of $24k at time 0, and generates an inflow of $5k per year for 8 years (with the first flow occurring in one years time)

What is the internal rate of return (to the nearest %)

A 12%
B 15%- What I thought it was
C 14%
D 13%- This is the correct answer.

Many Thanks for your help John

Stuart