Please show your work, I want to understand each step so I can comprehend the material. Thank you!

a. Because INTC pays dividends quarterly, for each quarter calculate the percentage change in the dividends. Calculate the annual growth rate of the dividend.

b. Calculate the intrinsic value of the stock using an 8% required rate of return and the calculated annual growth rate. Use the sum of the most recent four quarterly dividends as ₀.

c. Now assume that INTC`s dividend growth rate will remain the same for the next five years, then fall to 75% of its current rate. What is the value of the stock using the two-stage dividend discount model (non-constant dividend discount model)?

d. How does the calculated intrinsic value compare to the actual market price of the stock (i.e. whether the stock is undervalued, overvalued, or fairly valued)? Would you buy the stock at its current price?

TODAY Intel Stock Price 8-Apr-19 $50.60 Annual Average annual Growth growth rate Dividends %Change 11.37% 3.61% 6.0% 0.0096" 1.0775 1.04 8.33% 0.96 6.67% 0.9 0.00% 0.9 Required Return (r) Intrinsic Value (Po)-? 81 82 84 86 6.0% D1 D2 Ds 1.2 HVs CFs 1.27 0.00 0.00 1.27 0.00 0.00 0.00 NPV $1.18 Overvalued Sell