(d) assume that the dividend for the next quarter will be 120 yen and that the same dividend will continue after that. The risk-free rate will be 1.5%, and the risk premium will be 1.5%. What is the price? (calculations are required)

(e) < stock for > next dividend 40 yen, since then, the dividend will increase at an annual rate of 0.8% assumption. We will set the free rate at 1.5% and the risk premium at 2.5%. What is the price? (calculation required)