(Constant growth model) Medtrans is a profitable firm that is not paying a divid

(Constant growth model) Medtrans is a profitable firm that is not paying a dividend on itscommon stock. James Weber an analyst for A. G. Edwards believes that Medtrans willbegin paying a $1.00 per share dividend in two years and that the dividend will increase6% annually thereafter. Bret Kimes one of James colleagues at the same firm is less optimistic.Bret thinks that Medtrans will begin paying a dividend in four years that the dividendwill be $1.00 and that it will grow at 4% annually. James and Bret agree that therequired return for Medtrans is 13%.a. What value would James estimate for this firm?b. What value would Bret assign to the Medtrans stock?