Please show works and answer in finance calculation way (not in excel) and highlight the answers. Thank you

5. How much are you willing to pay for ATT's stock if it currently pays a $2.00 dividend that is expected to grow at a constant rate of 6% a year forever? Assume your required rate of return is 14%. Co= 2.00, g = 0.06, r = 0.14, PV? If the current market price is $28.60, what is the implied growth rate? [Common stock valuation: constant growth DDM] 4. IBM's preferred stock promises a $1.88 dividend that does not change year to year. Estimate it's price if investors require a 9% return. If it currently trades at $28, what is the implied required rate of return? [Preferred stock valuation]