QUESTION 13 Echo Tech. announced today that it is changing is dividend policy in an effort to reinvest in itself. The firm just paid a $3.00 dividend, which is expected to decline by 10% next year and decline another 20% two years from today. The dividend is then expected to grow at a constant 5% rate thereafter. Find the value of the stock today if investors require a 15% rate of return. Round intermediate steps to four decimals. O 21.13 37.30 18.89 14.91 Click Save and Submit to save and submit. Click Save AU Answers to save all answers, Save All Answers QUESTION 16 Danger Corp.just paid $2.20 as its annual dividend. The dividends have been increasing at a rate of 4% annually and this trend is expected to continue. The stock is currently selling for $63.60 a share. What is the rate of return on this stock? Round intermediate steps to four decimals. 0.0346 0.0760 O .0746 0.0360 QUESTION 17 5 points The constant dividend growth model is only meaningful for companies that have a required rate of return that exceeds their dividend growth rate. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save All Answers Save Save