What constant growth rate in dividends is expected for a stock valued at $37.82 if a $4.00 dividend has just been paid and the discount rate is 15%?

2) What should be the price of a common stock paying $3.50 annually in dividends if the growth rate is zero and the discount rate is 8%?

3) If the next year's dividend is forecast to be $5.00, the constant growth rate is 4%, and the discount rate is 16%, then the current stock price should be: