5. Merck (NYSE: MRK) is selling for $11.40 and is expected to pay a $0.40 dividend next year. The dividend is expected to grow at 15% for the following four years, and then at 7% annually after Year 5. If purchased at its current price, the required rate of return for Merck is 11.56%, assuming price equals value. Set up a spreadsheet and confirm using Goal Seek. Verify this discount rate generates the current price numerically using the appropriate formula on paper