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4. A New Concept Inc. forecasts an income of $5.00 per share and will payout 30% as dividends, 40% as a share repurchase and will

4. A New Concept Inc. forecasts an income of $5.00 per share and will payout 30% as dividends, 40% as a share repurchase and will retain the rest. Its growth rate is 6%, and the required return is 12%. What is the price of a share? What will be the new price per share of the stock if the growth rate decreases to 5% and the return on equity increases to 15% due to the change in market interest rates

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