27. What would you pay today for a stock that is expected to make a $2.25 dividend next ycar if the expected dividend growth rate is 4% and you require an 11% return on your investment? A) $28.57 B) $29.33 C) $31.43 D) $32.14 E) $33.43 28. Suppose a firm has just paid a dividend of $4 per share. Subsequent dividends will remain at $4 indefinitcly. Assuming a 5% required ratc, what is the value of one share? A) $22.50 B) $27.25 C) $32.50 D) $37.25 E) $80.00 29. ICM Inc. announced that it will pay a $0.10 per share dividend to holders of record as of Wednesday, July 29, 2020. Holding all else constant, the stock price will be lower by $0.10 per share at the opening of trading on A) Monday, July 27, 2020 B) Tuesday, July 28, 2020. C) Wednesday, July 29, 2020. D) Thursday, July 20, 2020 E) The stock price will not be lower on any of the above days