Task $5.$ Price a share of a certain company assuming that no dividend is paid for the next three years, but that for the

following years the dividend follows the Gordon model from a value of $15$PLN and an growth rate of $4\%$ per annum.

Assume that the market interest rate $($yield$)$ was $7\%$ for the first three years and $6\%$ for the following years. For what

price should we be able to sell this company $3$ years from now?

Task $6.$ Calculate the net present value $($at $8\%$ cost of capital$)$ of an investment that generates three inflowS of PLN

$46,000$ each every two years $($at the end of the second, fourth and sixth year$),$ while it is planned to sell all remaining

assets from this investment $($e$.$g$.$ machinery$)$ for PLN $25,000$ at the end of the investment horizon. The amount of the

investment is PLN $105000.$ Also provide a simple payback period for this investment. Comment on the results and the

overall investment.