Analysts forecast that Dixie Chicks, Inc. $($DCI$)$ will pay a dividend of $$4\mathrm{.}00$ a share now, continuing a long$-$term growth trend of $7\%$ per year. If this trend is expected to continue indefinitely, and investors' required rate of return for DCI is $13\%$ :

a$)$ What is themarket value per share of DCI's common stock?

b$)$ What is the market value per share of DCI's common stock if required rate of return is $10\%?$

c$)$ If there is expected to be non$-$constant growth of $35\%$ for the first year, then $25\%$ for the next year, then $15\%$ for next year, finally stabilizing to a constant growth of $8\%$ per year in the $4^{th}$ year what is the market value per share with the original required rate of return?

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