Please answer in excel format.

1. Why can dividends be used to value a firm's stock price? Amazon and Facebook do not pay dividends. Why do they choose not to pay dividends and why are investors willing to purchase their stock even though no dividends are paid? (15 points) 2. Verizon is expected to pay a $2.510 dividend next year. This will grow at 5% a year for the following four years. Afterwards, the company will maintain a constant 1.5% growth rate in dividends in perpetuity. If the required return on the stock is 6%, what is the current share price? (10 points) 3. Allstate preferred offers preferred dividend of 7.52% based on a $10 par. This dividend will be paid in perpetuity stating five years from now. If the market requires a 9.05% rate of return, how much does a share of preferred stock cost today? [5 points)