$3.$ A stock you are evaluating is expected to experience supernormal growth in dividends of $12$ percent over the next three years. Following this period, dividends are expected to grow at a constant rate of $4$ percent. The stock paid a dividend of $$1\mathrm{.}50$ last year and the required rate of return on the stock is $11$ percent. Calculate the stock's fair present value.

A$)$ $$16\mathrm{.}24$

B$)$ $$21\mathrm{.}56$

C$)$ $$24\mathrm{.}25$

D$)$ $$27\mathrm{.}46$

E$)$ None of these choices are correct.

$4.$ You are a financial analyst attempting to compute the fair market value for Cheatem Corp$$s common stock. Cheatem$$s $5-$year Beta has been estimated at $1\mathrm{.}6.$ The current annualized return for $10-$year T$-$Bonds is $5\%$ and the long$-$term historical return for the S&P $500$ Index is $11\%.$ What investor required return will you use to compute fair value for Cheatem$$s common stock?

A$)8\mathrm{.}00\%$

B$)11\mathrm{.}00\%$

C$)14\mathrm{.}60\%$

D$)25\mathrm{.}65\%$

E$)$ None of these choices are correct.

$5.$ The common stock of ACE pays a constant $$1\mathrm{.}50$ per share dividend. The common stock of ACME paid a $$1\mathrm{.}00$ dividend per share last year $($D$0),$ but its dividend is expected to grow at $4$ percent per year forever. ABLE common stock paid a dividend of $$1\mathrm{.}00$ per share last year, but its dividend is expected to grow at $3$ percent per year for ten years and then grow at $5$ percent per year forever. All three stocks have a $12$ percent required return. Which stock should be selling at the highest price in the market? Explain your answer with a numerical solution and short essay.

please explain in detail with calculations.