1. Google has just paid a dividend of $5.00 on its stock. Its dividends are expected to grow at a 20 percent rate for the next two years (Year 2022 and 2023). When the dividend growth rate falls off to an 8 percent thereafter (from Year 2024),

1. Figure out the dividend at Year 2024 (20points).

2. The required return of 12 percent. Figure out the stock price in 2023 (SP₂) based on the dividend at Year 2024. (30points)

3.The required return of 12 percent. Figure out the stock price in 2021 (SP₀) based on both the stock price at Year 2023 (SP₂) and dividends at Year 2022 and 2023. (30points)