1. Vincent Nguyen, an analyst, is examining the stock of Microsoft (MSFT) as of the beginning of 2019. He notices that the consensus forecast by analysts is that the stock will pay a $2.04 dividend per share in 2020 (based on 21 analysts) and a $2.24 dividend in 2021 (based on 10 analysts). Nguyen expects the price of the stock at the end of 2021 to be $243.30. He has estimated that the required rate of return on the stock is 7.8 percent. Assume all dividends are paid at the end of the year. A. Using the DDM, estimate the value of MSFT stock at the end of 2019. (6 points) B. Using the DDM, estimate the value of MSFT stock at the end of 2018. (10 points)