Please calculate using an Excel spreadsheet and show ALL work/formulas used. If picture is unclear or information is unreadable please comment and I will re-upload, Thank you. .

2. Consider the following annual dividend growth rates for Vinson (VA): 2014 2015 Annual Dividend Year Growth Rate 68.97% 36.73% 2016 17.91% 2017 15.19% 2018 18.68% 2019 28.70% a. (15 points) Calculate the compound annual (geometric) growth rate for Vinson. b. (10 points) If Vinson's next dividend will be $1.80 per share, and its current stock price is $270.95, what is the company's cost of equity