2 A late penalty of 8% will apply to new answers. Intro A stock just paid an annual dividend of $1.7. The dividend is expected to grow by 6% per year for the next 3 years. The growth rate of dividends will then fall steadily (linearly) from 6% after 3 years to 3% in year 6. The required rate of return is 12%. Attempt 1/10 for 9.2 pts. Part 1 What is the value of the stock if the dividend growth rate will stay 0.03 (3%) forever after 6 years? 1+ decimals Submit Part 2 Attempt 1/10 for 9.2 pts. In 6 years, the P/E ratio is expected to be 23 and the payout ratio to be 80%. What is the value of the stock when using the P/E ratio? 1+ decimals Submit