3. The stock price of Jenkins C0. is $53. Investors require a 12.00 percent rate of return on similar stocks. If the company plans to pay a dividend of $3.15 next year, what growth rate is expected for the company's stock price? SHOW ALL WORK: Formula: g=R(D1/P0) 4. Suppose a firm is expected to increase dividends by 15% in one year and by 10% in two years. After that, dividends will increase at a rate of 6% per year indefinitely. If the last dividend was $2 and the required return is 15%, what is the price of the stock? SHOW ALL WORK USE: P^0=(1+R)1D1+(1+R)2D2+(1+R)2P2