The earnings and dividend growth prospects of Medical Inc. are disputed by analysts. Analyst #1 is forecasting 5% growth in dividends indefinitely. Analyst #2 however, is predicting a 20% growth in dividends but only for the next three years, after which growth rate is expected to decline to 4% for the indefinite future. Medical dividends per share are currently $3. Stocks with similar risk are currently priced to provide a 14% expected return. What is the intrinsic value of Medical stock according to Analyst #1? What is the intrinsic value of Medical stock according to Analyst #2? Assume that Medical stock now sells for $39.75 per share. If the stock is fairly priced at the present time, what is the implied perpetual dividend growth rate? What is the implied P/E_1 ratio (i.e., today's price over next year's earnings), based on this perpetual dividend growth assumption and assuming a 25% payout ratio