Estimating Intrinsic Share Value Using Dividend Discount Model

Mattel, Inc. is expected to pay a $$1\mathrm{.}60$ dividend per share annually. Estimate its intrinsic value per common share using the dividend discount model $($DDM$)$ under each of the following separate assumptions. $($Assume that Mattel's cost of equity capital is $8\mathrm{.}0\%.)$

Required

a$.$ The $$1\mathrm{.}60$ dividend per share occurs at the end of each of the next three years, after which there are no additional dividend payments.

Round answer to two decimal places.

b$.$ The $$1\mathrm{.}60$ dividend per share occurs at the end of each year in perpetuity.

Round answers to two decimal places, if applicable.

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c$.$ The $$1\mathrm{.}60$ dividend per share occurs at the end of each of the next three years, after which the dividends increase at a rate of $4\%$ per year.

Round answers to two decimal places.