3) A stock pays a fixed $8.00 dividend a share forever. The required rate of return for this stock is 11%. a. What is the price of the stock? b. Assume the stock pays a dividend of $8.00 in year one, then grows 5% per year. What is the price of the stock? c. Assume now the growth rate is 8%. Now what is the stock price? 4) A stock's dividend yield is 3.5\%. The expected growth of the dividend is 4.5%. Assume the company will last forever and that the dividend discount model holds. What is the expected retum of the syock