Two analysts are given the task to estimate the intrinsic value of firm XYZ. Analyst 1 uses a dividend discount model (DDM) with a constant growth rate of 4% per annum and a required rate of return of 8% per annum. According to his estimation, XYZ's intrinsic value is $20. (a) Calculate the expected dividend per share (according to analyst 1's estimation) to be paid by firm XYZ a year from now. (2 marks) Analyst 2 estimates that shareholders of firm XYZ will only receive the expected dividend per share found in part (a) in 5 years' time (instead of 1 year). She also uses a constant DDM with a higher assumed growth rate of 6% per annum and a required return of 10% per annum. (b) Calculate the intrinsic value of firm XYZ according to analyst 2's estimation