(22).

(a) Arcs and Triangles paid an annual dividend of $1.47 a share last month. The company is planning on paying $1.52, $1.58, and $1.60 a share over the next three years, respectively. After that, the dividend will be constant at $1. 95 per share per year. What is the market price of this stock if the market rate of return is 12.7 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

(b)Home Products common stock sells for $37.84 a share and has a market rate of return of 15.8 percent. The company just paid an annual dividend of $2.98 per share. What is the dividend growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

(c) JL Co. stock currently sells for $74 per share and the required return is 12.2 percent. The total return is evenly divided between the capital gains yield and the dividend yield. What is the current dividend per share if it's the company's policy to always maintain a constant growth rate in its dividends? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)