= 2. (a): XYZ Inc. just paid out a dividend (Do) of $4.50. The firm anticipates that its annual dividends will grow at g 15% a year over the next 5 years. From t=5 onwards, the management expects that the firm's dividends will grow in perpetuity at gL = 6% per year. Work out the price of the stock assuming that the risk of its future cash flows justifies a discount rate of r = 10%. [22points] 2. (b): Rework your answer to part (a) assuming that r = 15% [22points]