D. Po- + D Du +...+ + 11+) (1+, (1+1 (13 Basically, this equation calculates the present value of dividends received during the nonconstant growth period and the present value of the stock's horizon value, which is the value at the horizon date of all dividends expected thereafter, Quantitative Problem 3: Assume today is December 31, 2019. Imagine Works Inc. Just paid a dividend of $1.35 per share at the end of 2019. The dividend is expected to grow at 15% per year for 3 years after which time it is expected to grow at a constant rate of 6% annually. The company's cost of equity (ra) is 9.5%. Using the dividend growth model (allowing for nonconstart growth), nat should be the price of the company's stock today (December 31, 2019)? Do not round Intermediate calculations. Round your answer to the nearest cont I per share Grade It Now Save & Continue Continue without saving Quantitative Problem 1: Hubbard Industries just paid a common dividend, Do, of $1.50. It expects to grow at a constant rate of 4% per year. If investors require a eturn on equity, what is the current price of Hubbard's common stock? Do not round intermediate calculations. Round your answer to the nearest centi 22.28 per share Zero Growth Stocks