2. Crowne Plaza Ltd. can distribute stable dividends with a consistent historical growth rate of 2.5% every year for a long period of time. Recently, the market changes the expectation of the growth potential as Crowne Plaza Ltd. just acquired another firm. Its projected constant growth rate is expected to accelerate to 4.5% forever from now. The dividends of the common stock paid recently were $12 per share. The share price of the common stock of Crowne Plaza Ltd. today is $300 a. What is the required rate of return on its common stock today? (4 points) 2.5% 12 10.05% + 4.5% b. What is the theoretical common stock price 5 years later from now? (3 points) 300 x C14 415%) : 373.85 Crowne Plaza Ltd. also issued preferred stocks with a stated value of $100 each with 8% dividend rate 5 years ago. The next dividend will be paid today. The required return on the preferred stocks is as same as the dividend yield of the common stock C. What is the price of the preferred stock if it is purchased after the next dividend paid? (5 points)