a. Suppose a company currently pays an annual dividend of $3.20
on its common stock in a single annual installment, and management
plans on raising this dividend by 6 percent per year indefinitely.
If the required return on this stock is 12 percent, what is the
current share price?
b. Now suppose the company in (a) actually pays its annual
dividend in equal quarterly installments; thus, the company has
just paid a dividend of $.80 per share, as it has...