A stock is currently priced at $$35\mathrm{.}4.$ Its dividend is expected to grow at a rate of $5\mathrm{.}5\%$ per year indefinitely. The stock's required return is $10\mathrm{.}7\%.$ The stock's predicted price $5$ years from now, $P5,$ should be $

Margin of error for correct responses: $+/-05$

Rounding and Formatting instructions:

Do not enter dollar signs, percent signs, commas, X$,$ or any words in your response. Do not round any intermediate work, but round your $*$ final$*$ response to $2$ decimal places $($example: if your answer is $12\mathrm{.}3456,12\mathrm{.}3456\%,$ or $$12\mathrm{.}3456,$ you should enter $12\mathrm{.}35).$

Question $5$

$2pts$

A stock is expected to pay the following dividends: $$1\mathrm{.}1$ in $1$ year, $$1\mathrm{.}6$ in $2$ years, and $$2\mathrm{.}1$ in $3$ years, followed by growth in the dividend of $6\%$ per year forever after that point. The stock's required return is $12\%.$ The stock's current price $($Price at year $0)$ should be $

Margin of error for correct responses: $+/-10$