Find the internal rate of return (IRR) of buying a $**100** stock now that's expected to pay annual dividends forever, with the next $**8** dividend to be paid in one year (t=1). The dividend is expected to grow forever at **3**% per annum . Therefore the second dividend (paid at t=2) is expected to be $8.24 (=8*(1+0.03)^1). The IRR of buying this stock now is: