PLEASE ANSWER THE QUESTION USING EXCEL AND SHOW ALL THE WORK AND FORMULAS USED IN EXCEL.

1. Historical dividends for four companies are given in the following table: Dividend Year Company 1 Company 2 Company 3 Company 4 2013 $0.60 $0.70 $1.20 $1.00 2014 $0.70 $0.77 $1.14 $1.20 2015 $0.80 $0.85 $1.08 $0.90 2016 $0.90 $0.93 $1.03 $1.10 2017 $1.00 $1.02 $0.98 $1.00 Required Return 10% 16% 12% 14% a) Calculate the compound average annual growth rate of the dividend for each company. If you expect the dividend to grow at that rate in the future, what is the price at which you would be willing to buy these companies' stocks? b) Calculate the arithmetic average annual growth rate of the dividend for each company. If you expect the dividend to grow at that rate in the future, what is the price at which you would be willing to buy these companies' stocks? c) Use the TREND function to calculate the dividend growth rate of each company. If you expect the dividend to grow at that rate in the future, what is the price at which you would be willing to buy these companies' stocks