Answer - 1 Current Dividend (per share) $ 1.

45
Dividend growth rate 0.06
Required rate of return 0.11
Current Stock Price $ 30.74

Stock Price in 3 Years $ 34.54

Stock price in 15 Years $ 69.50

Answer - 8 Current Stock Price $ 93.00

Current Dividend (per share) $ 4.75
Required Rate of return 5.1075269

Answer - 13 Dividend growth rate 0.05

Required return (for first three years) 0.15
Required return (for next three years) 0.13
Required return (thereafter) 0.11
Most recent dividend $ 1.00

Dividend for 1st year $ 1.05

Dividend for 2nd year $ 1.10
Dividend for 3rd year $ 1.16
Dividend for 4th year $ 1.22
Dividend for 5th year $ 1.28
Dividend for 6th year $ 1.34
Dividend for 7th year $ 1.41
Dividend for 8th year $ 1.48
Dividend for 9th year $ 1.55

Present Value of dividends for first three years

PV1 $ 0.91
PV2 $ 0.83
PV3 $ 0.76

Present Value of dividends for next three years

PV4 $ 0.75
PV5 $ 0.69
PV6 $ 0.64

Present Value of dividends thereafter

PV7 $ 0.68
PV8 $ 0.64
PV9 $ 0.61

Current Share Price $ 6.52

Answer - 16 Years 1 2 3 4
Dividend 12 8 7 2.5
 Dividend growth rate 0.05 0.05 0.05 0.05
Required rate of return 0.12 0.12 0.12 0.12
Present Value Dividend $ 10.71 $ 6.38 $ 4.98 $ 1.59

Dividend in fifth Year $ 3.19

Present Value Dividend in fifth Year $ 45.58

Present value of dividends $ 69.24

Answer - 18 Dividend growth rate (for 3 years) 0.3

Dividend growth rate (for following year) 0.2
Dividend growth rate (thereafter) 0.02
Required rate of return 0.1
Current stock price $ 76.00

Current Dividend $ 83.60

Dividend Growth Rate 0.1