I only need question 5 for this question, I already have the rest

Following table is the data of past dividend payments. dividend (in millions) 2012 $1.00 2013 $1.50 2014 $2.00 2015 $2.35 2016 $3.15 2017 $4.00 2018 $4.65 2019 $5.25 2020 $5.96 Using the past dividend data, you will forecast the future growth rate. The most recent dividend paid by New Technologies was an annual dividend of $5.96 million in total and there are 20 million shares outstanding . Assume T-bill rate is 3%, S&P500 market return is 7%, beta of New Technologies is 0.88. #1. What is the appropriate discount rate (required rate of return)?

#2. You forecast that future dividends will grow for 3 years at the geometric average of historical dividend growth rate using the data given. What is the geometric average of historical dividend growth rate? #3. You assume that dividends for the next 3 years will be increased at the rate you just calculated from #2. After that, you assume dividends are expected to increase by 4% each year forever. What should be todays stock price per share? #4. If the H-model is applied to the above question, at what rate should the growth rate decline each year to reach the constant growth rate of 4%? #5. Using the H-model, what should be the stock price per share today? #1. k = 5.54% #1. k = 6.52% #1. k = 9.24% #2. geometric avg growth rate = approx. 25% #2. geometric avg growth rate = approx. 21% #2. geometric avg growth rate = approx. 28% #3. approx. $15.50 per share #3. approx. $40.30 per share #3. approx. $21.10 per share #4. each year it should decline by 5% per year #4. each year it should decline by 7% per year #4. each year it should decline by 9% per year #5. approx. $17.80 per share #5. approx. $20.90 per share #5. approx. $15.20 per share