SHOW YOUR CALCULATIONS FOR #13 20. You have the option of performing calculations manually or with the use a financial calculator or spreadsheet. Either way, you must specify what is being calculated to earn credit: 13. Bonnie's Ice Cream paid an annual dividend of $6.25 per share last month, and it is anticipated that future dividends will increase by 4% annually. As a shareholder, if you require a 15% return on your investment in Bonnie's Ice Cream, how much are you willing pay to purchase one share of stock today? 14. Analysts project J&J Wholesale will pay an annual dividend of $715 next year with future dividends increasing by 4% annually. If the market rate of return on this stock is 12.4%, what should the stock be currently selling for? 15. Lassiter Enterprises pays an annual dividend of $4.80 per share. The economy is tough but Lassiter promises to continue maintaining this level of dividend every year for the time being How much are you willing to pay for one share of this stock is you want to earn a 15% annual return? 16. CBiz Personnel just paid a $7.26 per share annual dividend with the stated intention of increasing its dividend by 2.5% annually. You would like to purchase stock in this company but realize that you will not have the funds to do so for another 3 years. If you require a 15% annual rate of return, how much will you be willing to pay per share for the stock when you can afford to make this investment