$($Common stock valuation$)$ The common stock of NCP

paid $$1\mathrm{.}35$ in dividends last year. Dividends are expected

to grow at an annual rate of $7\mathrm{.}60$ percent for an indefinite

number of years.

a$.$ If NCP$\text{'}$s current market price is $$22\mathrm{.}01$ per share, what

is the stock's expected rate of return?

b$.$ If your required rate of return is $9\mathrm{.}6$ percent, what is the

value of the stock for you?

c$.$ Should you make the investment?