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3. Altria Group (ticker:MO) will pay a dividend of $3.44 in one year. Dividends are expected to grow at a constant rate of 3% per

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3. Altria Group (ticker:MO) will pay a dividend of $3.44 in one year. Dividends are expected to grow at a constant rate of 3% per year. If the discount rate on this stock is 11%, how much is the stock worth to you today? (4 points) 4. GlaxoSmithKline plc (ticker: GSK) will pay a dividend of $1.89 per share in one year. The stock's recent closing price was $37.24. If dividends are expected to grow at 6% per year what is the estimated expected return for the stock? In other words, what is the estimatec discount rate? (4 points)

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