7. Consider a stock which just paid a dividend of $5.00. If the firm expects earnings and dividends to grow at a rate of 6%, what price would you pay for the stock if you require a rate of return equal to 9% ? 8. What price would an investor requiring a 4% return pay for a stock which just declared a dividend of $3.00 if the expected dividend and earnings growth rate was estimated at 0% ? 9. If a stock is currently priced at $50 per share and the firm's current earnings per share is $3, what price would you pay if you forecast new earnings per share to be $4.00 ? 10. If a firm just paid a dividend of $2.00 and you require a return of 9% for the risk perceived for the investment, what price would you pay for the stock if you expect the growth rate of dividends to be 11% for the next five years and then 4% thereafter? 11. You purchased a stock when the last paid dividend was $6.00. What was the growth rate of dividends if you required an 8% return for the purchase, assumed a constant rate of growth, and paid $90.00 for the stock