Common stock value-Variable growth Personal Finance Problem Home Place Hotels, Inc., is entering into a 3-year remodeling and expansion project. The construction will have a limiting effect on earnings during that time, but when it is complete, it should allow the company to enjoy much improved growth in earnings and dividends. Last year, the company paid a dividend of $3.40. It expects zero growth in the next year. In years 2 and 3, 4% growth is expected, and in year 4, 17% growth. In year 5 and thereafter, growth should be a constant 12% per year. What is the maximum price per share that an investor who requires a return of 14% should pay for Home Place Hotels common stock? The maximum price per share that an investor who requires a return of 14% should pay for Home Place Hotels common stock is $(Round to the nearest cent) Common stock value: Constant growth Seagate Technology is a global leader in data storage solutions and a high yield dividend payer From 2015 through 2018, Seagate paid the following per-share dividends: Year 2019 2018 2017 2016 Dividend per share $2.51 2.28 1.78 1.15 1.55 2015 Assume that the historical annual growth rate of Seagate dividends is an accurate estimate of the future constant annual dividend growth rate Use a 20% required rate of return to find the value of Seagate's stock immediately after it paid its 2019 dividend of $2.51 The value of Seagate's stock is $ (Round to the nearest cont.)