4. Lee Hong Imports just paid a $1.00 per share annual dividend yesterday. Dividends are expected to increase by 5% annually. What is one share of this stock worth to you today if investor required rate of return is 14%? 5. The Merriweather Co. just announced that it wil pay a dividend next year of $1.60 and is establishing a policy whereby the dividend will increase by 3% annually thereafter. How much will one share be worth five years from now if the required rate of return is 12%? 6. The National XRay Company paid $2.00 per share in common stock dividends last year. The company's policy is to allow its dividend to grow at 5 percent for 4 years and then the rate of growth changes to 3 percent per year from year five and on. What is the value of the stock if the required rate of return is 8 percent?(variable growth model)