Show the steps of how got the answer

Step-by-step explanation:

f-  -3u=21 divide each side by (-3)

-3u/-3=-21/3

u=-7

g) 23+a=12  use subtraction method , subtract 23 from both sides

23-23+a=12-23

a=-11

h) -9+b=15  use additional method, add 9 to both sides

-9+9+b=15+9

b=26

Net present value= $25.17

Step-by-step explanation:

We are told that The last dividend paid was $1.55 and that the dividend growth rate is constant at 1.5% for 2 years.

Thus;

1) After 1st year;

1.55 × (1 + 0.015) = 1.57325 Div1

After 2nd year;

1.57325 × (1 + 0.015) = 1.59685 Div2

After that 2 years it grows at 6% Constant rate forever;

1.59685 × (1 + 0.06) = 1.69266 Div3

Let's now use the dividend formula which grows in perpetuity at a rate of "g" since required return is 12%:

Thus;

V = 1.69266/(0.12 - 0.06) = 28.211

Thus; Div2 = 28.211 + 1.59685 ≈ 29.80785

Now, using the financial calculator of the Cash Flow function, we have:

Div0 = 0

Div1 = 1.57325

Div2 = 29.80785

i% = 12

Net present value = (1.57325/(1 + 0.12)) + ((1.59685 + 28.211)/(1 + 0.12)²)

Net present value= $25.17