1. Ajax Inc. just issued a dividend of $1.43. Investor analysis suggests that the companys dividend will grow based on its historical average over the past 6 years. If you require a return of 8.2% per year, what price are you willing to pay for this stock assuming it follows the constant growth dividend model? Please use the historical dividends below to answer this question. 2013: $1.20 2014: $1.24 2015: $1.29 2016: $1.33 2017: $1.38 2018: $1.43

   		$31.88
   		$38.25
   		$22.14
   		$26.56
   		$18.45

Please show all work and calculations!