Horse and Buggy Incorporated is in a declining industry. Sales, earnings, and dividends are all shrinking at a rate of 8% per year. a. If r = 12% and DIV = $5, what is the value of a share? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Value of a share b. What price do you forecast for the stock next year? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Stock price c. What is the expected rate of return on the stock? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.

lorse and Buggy Incorporated is in a declining industry. Sales, earnings, and dividends are all shrinking at a rate of 8% per year. a. If r=12% and DIV 1=$5, what is the value of a share? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b. What price do you forecast for the stock next year? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. c. What is the expected rate of return on the stock? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places