Assume the following variables on WJE shares of common stock in answering the next four questions. Use the dividend growth model formula. D₀ = $1.50; k = 9%; g = 4%

Calculate the price of these shares? ________________

If the dividend increases next quarter to $3.25 and the growth rate remains the same, what is the new price of WJE shares? _________________

If the required return on WJE falls to 6%, what is the new price of these shares? (Assume the other variables remain the same as they were originally) __________________

If the growth of WJE slows to 3%, what will be the price of the shares? (Assume the other variables remain the same as they were originally) ______________________