Determine the price of a share of stock whose last annual dividend payment was $1.5 assuming a required rate of return of 15% and considering the following restrictions:

a) The dividend payment is expected to remain constant indefinitely.

b) The dividend payment is expected to grow at a constant rate of 3% per year indefinitely.

c) The dividend payment is expected to grow at a rate of 7% for four years and then immediately decline to 3% indefinitely.

d) How does the calculated intrinsic values compare to the current price of $14? Use an IF statement to display whether the stock is undervalued, overvalued, or fairly valued

(This needs to be done in Excel)