9. A company is undergoing a restructuring that is expected to last for T years. During this time it will continue to pay its recently paid dividend, but there will be no dividend growth. Once the restructuring is complete, the dividend is expected to grow at a steady-state rate g. (a) (4 pts) Derive a closed-form expression for the price of this stock in terms of spot and forward preferred stock and a forward Gordon growth model. (b) (4 pts) Your analysts tell you that the restructuring will take 4 years after which steady-state growth at 3%/year is expected. If this stock has a beta of 1.2 and is trading at GBP 32.66 in an economy where the risk-free rate is 2%/year and the equity risk premium is 5%/year, what was the amount of the recent dividend