Quantitative Problem 2i Cortrie Corporetion has perpetual preferred stock outstanding that pars a constant antrual dividend of $1.20 at the end of esch year, if investors require an 7% return on the preferred stodk, whst is the price of the firm's perpetual preferred stockc plound your answer to the nearest cent: per thare Nonconstant Growth Stocks: For many companies, it is not appropriate to aesume that dividends well grow at a constant rate. Most firms go through Lfe cyeles where ther experience different gromts rates during oifferent parts of the cycie. Far valuing these firms, the generalized valuation and the constant growth equations are combened to arrive at the ronconstant growth valuation equationt Basicaliy, this equation calculates the present value of dividends received during the nonconstant growth period and the present value of the stock's horizon value, which ia the value at the horizon date of all dividends expected therrafter. Quantitative Preblem 3: Assume today is December 31, 2019. Imagine Works Inc. just paid a divilend of \$1.35 per share at the end of 2019. The dividend is expected to grow at 15% per year for 3 years, after which time it is expected to grow at a constant rate of 6% annualiy. The campony's cost of equity (r.) is 9%. Using the dividend growth model (aliowing for nenconstact growth), what should be the price of the company's stock today (December 31,2014) ? Do not round intermediate calculations. flound your answer to the nearest cent