Nachman Industries just paid a dividend of D0 = $1.32. Analysts expect the company's dividend to grow

Question:

Nachman Industries just paid a of D0 = $1.32. Analysts expect the company's to grow by 30% this year, by 10% in Year 2, and at a constant rate of 5% in Year 3 and thereafter. The required return on this low-risk stock is 9.00%. What is the best estimate of the stock’s current market value?

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...