Apple stock was $110 on the 1st of March 2019 The most recent Dividend paid was 60 cents.

Average Monthly Return of Apple shares = 0.73% Compounded Annual return for the stock is = 9.141% =((1+0.73%)^(12)-1) a) Using the Gordon Growth Model (Constant growth) estimate the expected long-term growth in dividend (g).

b) estimate the expected price of Apple on Feb 1, 2020.

Please explain in detail with excel formulas.