Suppose that the next years expected dividend on the S&P 500 ETF fund SPY is 1.08 and that is expected to grow by 3% per year indefinitely. Also assume that the current discount rate for the market is currently 3.5%. If the discount rate were the suddenly jump 4.5% suing a constant growth dividend valuation what would happen to the value of the S&P 500 ETF fund SPY

steps please solution is decrease by 66.66%