1. (5 marks) Intel paid $100 per share dividend yesterday. You except the dividend to grow steadily at 4 percent per year. a. (1 mark) What is the expected dividend in each one of the next three years? b. (1 mark) If the discount rate for the stock is 12 percent, at what price will the stock sell? c. (1 mark) What is the expected price three years from now? d. (2 marks) If you buy the stock and plan to hold it for three years (you are selling it at the end of year three), what payments will you receive? What is the present value of those payments? Compare to part (b)