Intro A stock just paid an annual dividend of $2. The dividend is expected to grow by 8% per year for the next 3 years The growth rate of dividends will then fall steadily (linearly) from 8% after 3 years to 5% in year 6 The required rate of return is 12% Part 1 Attempt 1/10 for 10 pts. What is the value of the stock if the dividend growth rate will stay o 05 (5%) forever after 6 years? 1+ decimals Submit Part 2 Attempt 1/10 for 10 pts in 6 years, the P/E ratio is expected to be 17 and the payout ratio to be 80% What is the value of the stock wnda using the P/E ratio? 1+ decimats Submit