Ted McKay has just bought the common stock of Cullumber Corp. Management of Cullumber expects the company expects to grow at the following rates for the next three years: 35 percent, 30 percent, and 20 percent. Last year the company paid a dividend of $2.60. Assume a required rate of return of 10 percent. (1) Your Answer Correct Answer Your answer is correct. Compute the expected dividend for the first year. (Round answer to 2 decimal places, eg 15.25) D $ 351 e Textbook and Media Solution Attempts: 1 of 1 used Using multiple attempts will impact your score 50% score reduction after attempt 2 (a2) Your Answer Correct Answer Your answer is correct. Compute the expected dividend for the second year. (Round answer to 2 decimal places, eg 1525) D $ 456 e Textbook and Media Solution Attempts: 1 of 1 used Using multiple attempts will impact your score 50% score reduction after attempt 2 (a3) Your Answer Correct Answer Your answer is correct. Compute the expected dividend for the third year. (Round answer to 2 decimal places, eg 15.25.) , ) D $ $ 5.47 e Textbook and Media Solution Attempts: 1 of 1 used Using multiple attempts will impact your score 50% score reduction after attempt 2 (24) Compute the present value of these dividenck if the required rate of return is 10 percent. (Round answer to 2 decimal places.eg. 15.25.) Present value $ Attempts: 0 of 1 used Submit Answer Save for Later Using multiple attempts will impact your score 50% score reduction after attempt 2