SPECTRE is a startup firm that is still in a period of rapid development. The company plans on retaining all of its earnings and paying no dividends for the next 5 years. Six years from now, the company projects paying an annual dividend of $1.50 a share and then increasing that amount by 2 % annually thereafter. What is the value of their stock if the discount rate is 10%? $11.64 $14.02 $15.19 $17.76 $9.31 Wayne Enterprises paid an annual dividend of $1.95 per share last month. Today, the company announced that future dividends will be increasing by 2.6 percent annually. If you require a 15 percent rate of return, how much are you willing to pay to purchase one share of this stock today? $19.23 $16.88 $17.72 $15.67 $16.13 BioFuels Inc. is growing quickly. Dividends are expected to grow at 24% for the next three years, after which growth and dividends are expected to be a constant 6%. The required return is 11% and the company just paid a $1.90 annual dividend. What is the current share price? $76.80 $45.09 $58.41 $63.30 $98.75