Pakistan State Oil company {PSD} latest annual dividend of 1.25 a share was paid yesterday and maintained its historic T percettt annual rate of growth. You plan to purchase the stock today because you believe that the dividend growth rate will increase to 3 percent for the next three years and the selling price of the stock will be 41} per share at the end of that time. How much should you be willing to pay for the PEG stock if you require a 6 percent return? What is the maximum price you should be willing to pay for the P511] stock if you believe that the 3 percent growth rate can be maintained indenitely and you require a 6 percent renirn'? If the 3 percent rate of growth is achieved, what will the price be at the end of year 3, assuming the conditions in Part b