Please Help, I'm reviewing for a test and I'm a bit confused on what to do.

Computer stocks currently provide an expected rate of return of 23%. Suppose Larrys Laptops, a large computer company, will pay a year-end dividend of $3.30 per share.

If the stock is selling at $63 per share, what must be the market's expectation of the dividend growth rate?

If dividend growth forecasts for Larrys Laptops are revised downward to 9% per year, what will happen to the price of the stock?

Will the P/E ratio go up or down?