Year Dividend per Share 2019 $2.28 2018 $2.17 2017 $2.06 2016 $1.97 2015 $1.87 2014 $1.78 2013 $1.70 Integrative Risk and valuation Giant Enterprises' stock has a required return of 13.6%. The company, which plans to pay a dividend of $2.39 per share in the coming year, anticipates that its future dividends will increase at an annual rate consistent with that experienced over 2013-2019 period, when the following dividends were paid: a. If the risk-free rate is 4%, what is the risk premium on Giant's stock? b. Using the constant-growth model, estimate the value of Giant's stock. (Hint: Round the computed dividend growth rate to the nearest whole percent.) c. Explain what effect, if any, a decrease in the risk premium would have on the value of Giant's stock.