Please show work/formulas You are considering the purchase of a common stock that paid a dividend of $2.00 yesterday. You expect this stock to have a growth rate of 15% for the next 3 years, resulting in dividends of D₁ =$2.30, D₂ = $2.645, and D₃=3.04. The long-run normal growth rate after year 3 is expected to be 10 percent (that is a constant growth rate after 3 of 10% per year forever). If you require a 14 percent rate of return, how much should you be willing to pay for this stock? Answer is $62.57 but how do you work the problem? 13.Perrine Industrial Inc. just paid a dividend of $5 per share. Future dividends are expected to grow at a constant rate of 7% per year. What is the value of the stock if the required return is 16%? A. $33.44 B. $59.44 C. $55.56 D. $65.87 16. Kinard