(6) A firm will pay a $3.04 per share dividend next year. The firm pledges to increase its dividends by 3.8% per year indefinitely. If you require 11% return on your investments, how much will you pay for the firms stock today?

(7) A firm is expected to maintain a constant 5.2% growth rate in its dividends indefinitely. If the firm has a dividend yield of 6.3%, what is the required rate of return on the firms stock?

(8) A company pays a constant $9.75 dividend on its stock. The company will maintain the dividend for the next 11 years and will then stop paying dividends forever. If the required rate of return on this stock is 10%, what is the current share price?

(9) There is a young start-up company. No dividends will be paid on the stock over the next nine years because the firm needs to plow back its earnings to fuel growth. The firm will pay a $10 per share dividend in 10 years and will increase the dividend by 5% per year thereafter. If the required return on this stock is 14%, what is the current share price?

(10) A firm is growing quickly. Dividends are expected to grow at a 30% rate for the next three years, with the growth rate falling off to a constant 6% thereafter. If the required return is 13% and the company just paid a $1.80 dividend, what is the current share price?

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