QUESTION 3 Delta Inc is preparing to alter its dividend payout structure due to financial distress. The company plans to pay a dividend every other year for the next four years. The first dividend payment of $5 per share will occur two years from today. Each subsequent dividend paid over this four year period will be 10% greater than the previous dividend paid. After four years, Delta's dividend is expected to grow at a constant 5% rate, indefinitely. Investors require a 20% rate of return. Find the value of the stock today. Round intermediate steps to four decimals. O 21.60 O 33.97 O 36.41 O 24.69 QUESTION 4 The variable growth model assumes that the required rate of return is greater than the constant long-term dividend growth rate. O True O False 5 points 5 points Save Answer Save