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4. (6 points) XYZ Manufacturing paid $4.20 dividend per share in year 2019 but paid only $2.00 per share in 2020 due to the reduced

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4. (6 points) XYZ Manufacturing paid $4.20 dividend per share in year 2019 but paid only $2.00 per share in 2020 due to the reduced profit arising from the pandemic. This dividend growth rate is expected to stay for the next two years (from year 20221 to year 2023)), and then grow at a rate of 5% forever. The requires rate of return is 10%. a. (3 points) What is the current (year 2021) price of XYZ stock? b.(3 points) What is the expected price per share for year 2022

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