Most corporations pay quarterly dividends on their common stock rather than annual dividends. Barring any unusual circumstances during the year, the board raises, lowers, or maintains the current dividend once a year and then pays this dividend out in equal quarterly installments to its shareholders. a. Suppose a company currently pays a $5 annual dividend on its common stock in a single annual installment, and management plans on raising this dividend by 6 percent per year indefinitely. If the required return on this stock is 12 percent, the current share price is $ _____________. b. Now suppose that the company in (a) actually pays its annual dividend in equal quarterly installments; thus, this company has just paid a $1.25 dividend per share, as it has for the previous three quarters. The value for the current share price is now $______________. (Hint: Find the equivalent annual end-of-year dividend for each year.)