The Wareham Corporation has never paid any common dividends. Analysts believe, however, that Wareham will begin paying their first dividend of $1.00 per share 3 years from today. Their dividend is expected to grow rapidly - at a rate of 80% per year- during Years 4 and 5 . After Year 5 , dividends will grow at an annual rate of 6%. The risk-free rate is 4 percent, the company's beta is 1.2, and the stock market's average required rate of return is 9%. 1. What is the company's stock's required return? 2. What is the company's stock's horizon (terminal) value? 3. What is the current company's stock price? (Note: For each question, please show detailed explanations as to how you proceed to your answer along with detailed calculations)