$1.$ Dorne Industries paid a dividend of $$5\mathrm{.}00$ per share of stock recently and expects to grow the dividend by $3\%$ next year and beyond.$$ Assume a discount rate of $7\%,$ Answer should be rounded to the nearest cent, e$.$g$.$ $$1\mathrm{.}23"$

$($a$)$ What is the value of the stock?

$($b$)$ How much value in the current stock price is attributable to the growth rate?

$($c$)$ Assuming no other changes in parameters, explain$$the possible effects of an increase in the discount rate?