Suppose that the discount rate is 10%. What are the price of following three stocks today? d) Stock X is expected to pay a dividend of 5 per share forever. (10 marks) e) Stock Y will pay a dividend of 4 next year. Dividends are expected to grow at 5% per year forever. (20 marks) f) Stock Z suffers loss due to the pandemic in 2020 and 2021 and cannot pay dividend. But it is expected to be profitable in 2022 and start to pay dividend. Specifically, a dividend of 1 is expected to be paid in 2022, 2 to be paid in 2023, 3 to be paid in 2024, 5 to be paid in 2025, and then stay the same amount afterwards without grow or decline. (40 marks)