(b) Over the next three years, Distant Groves will pay annual dividends of $1.65, $.172, and $1.80 a share, respectively. After that, dividends are projected to increase by 3.5 percent per year. What is one share of this stock worth today at a required return of 10.4 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

(c) Gee-Gee's is going to pay an annual dividend of $2.05 a share next year. This year, the company paid a dividend of $2 a share. The company adheres to a constant rate of growth dividend policy. What will one share of this common stock be worth six years from now if the applicable discount rate is 12.2 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

(d) Gee-Gee common stock returned a nifty 18.45 percent rate of return last year. The dividend amount was $1.8 a share which equated to a dividend yield of 2.16 percent. What was the rate of price appreciation for the year? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)