3 C. (20 Marks) a) ABC Corp. is expected to pay a dividend of $3 per share next year. Investors anticipate that the annual dividend will rise by 6% per year forever. The required rate of return is 11%. What is the price of the stock today? b) Julie has just been offered a job at $50,000 a year. She anticipates her salary will increase by 5% a year until her retirement in 40 years. Given the interest rate of 8% what is the present value of her lifetime salary