The common stock of Denis and Denis Research, Inc., trades for $80 per share. Investors expect the company to pay a $3.90 dividend next year, and they expect that dividend to grow at a constant rate forever. If investors require a 12% return on this stock, what is the dividend growth rate that they are anticipating? end of the 3 years (the end of 2023), she expects the firm's mature product line to result in a slowing of the dividend growth rate to 8% per year, g2, for the foreseeable future. Vicky's required return, rs, is 15%. Required: What is the current (end-of-2020) value of Hawaii's common stock, P0 = P2020