Sia Dance Studios has an annual cash dividend policy that raises the dividend each year by 5%. Last year's dividend, Div0, was $4 per share. The company will be in business for 60 years with no liquidating dividend. What is the price of this stock if

a.an investor wants a return of 8%?

b.an investor wants a return of 10%?

c.an investor wants a return of 12%?

d.an investor wants a return of 15%?

e.an investor wants a return of 18%?