1. Here are data on two stocks, investor required return is 15 percent:

	Stock A	Stock B
Return on Equity Earnings Per Share Dividends per share	12% $2.00 $1.00	10% $1.50 $1.00

a. What are the dividend payout ratios for each firm?

b. What are the expected dividend growth rates for each firm?

c. What is the proper stock price for each firm?

Please show the complete working instead of using excel formulas