Common stock value$-$Constant growth Personal Finance Problem Over the past $6$ years, Elk County Telephone

has paid the dividends shown in the following table, $.$ The firm's dividend per share in $2020$ is expected to be $$1\mathrm{.}34.$

a$.$ If you can earn $11\%$ on similar$-$risk investments, what is the most you would be willing to pay per share in $2019,$ just

after the $$1\mathrm{.}28$ dividend?

b$.$ If you can earn only $8\%$ on similar$-$risk investments, what is the most you would be willing to pay per share?

c$.$ Compare your findings in parts a and $b,$ what is the impact of changing risk on share value?

a$.$ If you can earn $11\%$ on similar$-$risk investments, the most you would be willing to pay per share is $$.($Round to the

nearest cent.$)$

Data table

$($Click on the icon here $$ in order to copy the contents of the data table below

into a spreadsheet.$)$