The stock has just paid a dividend of $1.50, and the management expects the dividends to grow at 5% forever, thereafter. 1) If investors require a 12% return, they will value this stock at what price? a) $18.5 b) $22.5 c) $28.5 d) $32.5 2) If investors require a 12% return, this stock is: a) Growth b) Value c) Blend d) Cannot be determined 3) The stock has just paid a dividend of $1.50, and the management expects the dividends to grow at 15% the next 3 years, and then at 5% forever, thereafter. If investors require a 14% return, they will value this stock at what price? a) $18.5 b) $22.5 c) $28.5 d) $32.5