Welch Corporation just paid its annual dividend of $2.00 per share. The firm is expected to grow at a rate of 15 percent for the next three years and then at 6 percent per year thereafter. The required return of Welch Corp. is 12%. What is the expected price of the stock in one year? (6 marks) b. A main assumption of the DDM is that dividends grow at a constant rate indefinitely, which is clearly not true in the real world. Does it make it a not-so-useful model? Explain why or why not.