UTG Teaching Company is expected to pay a dividend of $2 in the upcoming year. The risk-free rate of return is 4% and the expected return on the market portfolio is 14%. The beta of UTG Teaching...

UTG Teaching Company is expected to pay a dividend of $2 in the upcoming year. The risk-free rate of return is 4% and the expected return on the market portfolio is 14%. The beta of UTG Teaching Company 1.25. Analysts expect the price of UTG Teaching Company shares to be $22 a year from now.

a) What is the market’s required rate of return on UTG Teaching's stock?

b) What is the intrinsic value of UTG Teaching's stock today?

c) If UTG Teaching Company’s intrinsic value is $21.00 today, what must be

its growth rate?