As part of the regular rebalancing of its client portfolios, the asset manager Value Parc has set its sights on a so-called dividend aristocrat. These are first-class stocks with reliable dividends. Due to the pursued dividend strategy combined with the industry and business model characteristics, this stock would fit well into the strategic asset allocation of one investor. The last dividend payment was 2,00 . The investor expects a minimum return of 7% on this type of investment. In preparation for a presentation to investors, you are asked for a couple of analyses: 1. What would be the expected dividend stream for the next four periods under the assumption of a constant dividend growth rate of 3%? 2. What would be the share price based on these assumptions? 3. After studying various analyst reports in more detail, you conclude to correct your growth assumptions. You now assume an aggressive growth of 30% for the next three periods. For the subsequent periods, you again assume a more moderate growth of 3%. What would be the share price based on these assumptions? 4. What would be the corresponding TSR (total shareholder return) in period 3?