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Please answer ASAP! Thanks Most corporations pay quarterly dividends on their common stock rather than annual dividends. Barring any unusual circumstances during the year, the

Please answer ASAP! Thanks
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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 instalments to its shareholders. a. Suppose a company currently pays an annual dividend of $3.20 on its common stock in a single annual installment, and management plans on raising this dividend by 2 percent per year indefinitely, If the required return on this stock is 10 percent, what is the current share price? (Do not round intermediote calculations and round your onswer to 2 decimal places, e.g., 32.16.) b. Now suppose the company in (a) actually pays its annual dividend in equal quarterly installments; thus, the company has fust paid a dividend of $.80 per share, as it has for the previous three quarters. What is your value for the current share price now? (Hint: Find the equivalent annual end-of-year dividend for each year) (Do not round intermediate calculations and round your onswer to 2 decimal places, e.9.. 32.16.)

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