The XYZ Corporation pays a dividend of $1 for each share, and its required rate of return is 8%. Answer the following questions: Assuming zero growth in dividends, what is the value of each share? Now assume a 4% annual growth rate in the dividend paid. What is the value of each share? Assume the growth rate is still 4%, but the required rate of return drops to 6%. What is the new value of each share?