5. Enbridge currently sells for around 52.50 share. Assume the growth rate on its dividend is constant and is approximately 3% and that their most recent dividend (annualized) was $3.34.

a. Calculate next years dividend.

b. Find implied rate of return on the stock:

c. If you buy at 52.50, and sell a year from now at 56.25, what will have been your one-year ROR?