Problem 14 Intro A stock just paid an annual dividend of $2.4. The dividend is expected to grow by 8% per year for the next 3 years. The growth rate of dividends will then fall steadily (linearly) from 8% after 3 years to 5% in year 6. The required rate of return is 12%. Attempt 2/10 for 7 pts. Part 1 What is the value of the stock if the dividend growth rate will stay 0.05 (5%) forever after 6 years? 1+ decimals Submit Part 2 | Attempt 1/10 for 10 pts. In 6 years, the P/E ratio is expected to be 16 and the payout ratio to be 80%. What is the value of the stock when using the P/E ratio? 1+ decimals Submit