4. Today is 1/1/2017. Con Edison is expected to pay a dividend of S10 per share exactly one year from today, on 1/1/2018. The second dividend, paid on 1/1/2019, will be 3% higher. The firm will continue paying a dividend on JanuaryT every year each new dividend being 3% higher than the previous one. The discount rate is 8%. Start by drawing the timeline including the first 8 dividends. forever, a. What is the present value today 1/1/2017) of all future dividends paid by Con Edison? b. What is the present value of all dividends on 1/1/2018, immediately before the first dividend is paid? c. What is the present value of all future dividends on 1/1/2018, immediately after the first dividend is paid? d. What is the present value of all dividends on 1/1/2019, immediately before the 1/1/2019 dividend is paid? e. Wha t is the present value of all future dividends on 1/1/2019, immediately afer the 1/1/2019 dividend is paid? f. Compare your answers from parts a, c and e. What is the percentage growth rate from (your answer to part a) to (your answer to part c) and from to (your answer to part e)? g. What is the present value today (1/1/2017) of the first 6 dividends (the dividends that wll be paid on 1/1/2018, 1/1/2019, 1/1/2020, /1/202, 1/1/2022 and 1/1/2023)? h. What is the present value on 1/1/2023, immediately after the 1/1/2023 dividend is paid, of all remaining future dividends? i. What is the present value today (1/1/2017) of all dividends starting with the dividend paid on 1/1/2024? j. What is the relationship between your answers from parts a, g and i? k. What is the present value today (1/1/2017) of the first 100 dividends