Assume that a stock's dividend growth stays roughly the same as the average of the last four years. Calculate the expected dividend D and annual dividend growth in the following table. Then figure out the value of the stock to the investor who demands a 6% required rate of return. Annual Dividend 2014 2015 2016 2017 2018 Label D.3 D.2 D.1 $1.00 1.05 1025 1.1576 average dividend growth 9 per share