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6. Assume that Universal's dividend in the second half of 2021 will be the same amount as the dividend paid in May 2021. Further assume

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6. Assume that Universal's dividend in the second half of 2021 will be the same amount as the dividend paid in May 2021. Further assume that dividends in 2022, 2023 and 2024 will be the same amount as the total dividend paid in 2021. After 2024 dividends will increase by 2% pa. and the required return is 8%. What is a fair price for a Universal share in 2021? (Assume the full 2021 dividend has already been paid). Show your return calculation in the spreadsheet. 7. What is the percentage return for an investor that purchased Universal shares in the Initial Public Offering and sold them 'today'? Be sure to include the dividend paid in May 2021 in your percentage return calculation and show your return calculation in the spreadsheet

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