Question No: 05 This is a subjective question, hence you have to write your answer in the Texi-Field given below. Procter and Gamble Inc is expected to pay a dividend of $4.00 per share next year on its common stock and this dividend is expected to grow at a rate of 5% per year forever into the future. What is the fair price for a share of Procter and Gamble common stock if a 14% rate of return is required? [2]