$2,$ and drop to a constam $5\%$ for Year $2$ and all subsequent years. Hamilton has just paid a dividend of $52\mathrm{.}50$ and its stock, has a required returs of $11\%.$

a$.$ What is Harsilton's estimated stock price today?

$\backslash$table$[[,,,,,,,],[,9,1,,5$tort nun g; for Year $1$ only.,$],[,,30\%,],[,91,2,15\%,$Shert$-$run g: lor Year $2$ asly.$],[,9.,$SN$,$Long$-$run $q$; for Yeat $3$ and al following years.$],[,,,,,,,],[,g,,300\%,15\%,5S,,],[,$Year,$0,1,2,3,,],[,$Dividend,,$$325,50\mathrm{.}74,,=>,],[,,,,,,,],[2,\backslash$table$[[$PV of dividends and$],[$PV of horizon value$]],,,,,,],[23,52\mathrm{.}9279,4,,,,$grad,$],[25,\backslash$table$[[30334+$